What Basic Money Skills Should Be Taught In High School?- The Saturday Weekend Review #216

PERSONAL FINANCE IS MORE THAN JUST BUDGETING YOUR WAY TO FINANCIAL FREEDOM.   Teenagers may find out the hard way in the world of personal finance if they don’t understand finance basics. In the past parents were the financial leaders responsible to teach their kids about money. They still are but things are about to possibly change in Ontario. Personal finance for teenagers has slowly been easing its way into the education system because it’s not just a need it’s critical. This is something that we should all be happy about because not all kids get taught about finance basics at home. The other thing to consider is that the kids are getting taught enough about money or aren’t getting the hands on experience. There’s the learning and then the doing and this is how we build a stronger understanding of what is right and wrong and how to prevent financial disaster or at least avoid it. Personal finance education has long been discussed in Ontario and Education Minister Mitzie Hunter will be announcing the plans for rolling out a Pilot Project teaching 700 teenagers in 28 local high schools about Basic Money Skills in the next week. Personal finance […]

University Student Makes Costly Friendship Mistake

SOMETIMES THE BEST PATH IN LIFE IS TO FIRST BELIEVE IN YOURSELF.   Friendship is a wonderful thing especially when you are networking and keeping doors open for opportunity that might come your way. It’s all about who you know right? In most cases, yes but you can’t just rely on friends. Do you tell yourself, “I need a friend” or ” I want a friend”? There is a difference between Needs vs. Wants that we talk about in the finance world and the same can be applied here. If you don’t need it then don’t waste your time, energy or money on it. If you want something then you have to work hard to save money to pay for it. Compare this to earning the friendship of someone new in your life. Don’t get me wrong, having friends is great but at the end of the day they do their thing and I do mine. Contrary to what you’ve read in children’s books growing up life isn’t all about rainbows. There are no unicorns, dolls and talking cars who will watch your back and give you advice. At one point you probably imagined that Spiderman was your hero and […]

The Ultimate Back To School Savings Guide : The Saturday Weekend Review #187

GET YOUR BACK TO SCHOOL BUDGET READY BECAUSE STORE SHELVES ARE STOCKED AND WAITING FOR YOU!   The back to school promotion campaign for your hard-earned money is on as just about every store in Canada is ready for their biggest sales event during the month of August. I’ve been in and out of the education system over the years and with this experience I’ve come up with some frugal ways to keep back to school expenses low. Just a fair warning but a beverage is essential when reading this post because it’s longer than normal. For those of you who want to stick to a limited school budget it’s worth the read especially for those heading back to class or have kiddos they need to get ready for back to school. Back to School Tip #1 Don’t get a credit card! You don’t need one especially if you’ve worked your butt off all summer and saved your money. All a credit card will do is create debt for you which you don’t need especially if you have student loans to pay back. Stick to personal financial safety and walk away from the credit card. By now you should already […]

grocery game monthly challenge

30 Must-Have Student Food Pantry Staples : The Grocery Game Challenge 2016 #1 Aug 1-7

Create your own student cookbook: University and College Cooking 101   You may or may not be a student but if your child is off to College or University don’t pass on the opportunity for them to spend 10 minutes reading this post about cooking and living independently away from the family home. I’ve been a student in University twice in my life and both times I made sure to have a stocked food pantry to stop me from eating out which is a HUGE waste of money for any student. It’s one thing to be social and another to be lazy in the kitchen if you are able to cook at home. I had many friends who considered themselves the starving student only because most of their student budget went to booze, partying and eating fast food. That’s a sure-fire way to starve your budget and your tummy of nutritious food. What I’ve learned throughout my frugal student years in the kitchen may serve as a handy reminder that you CAN eat decent meals at home and kick the fast-food habits many students take on when they move away for school. First off you need a student budget and […]

Parents ask son to save money after they were homeless and poor

SAVING MONEY IS YOUR CHOICE   If you want to save money then don’t wait until things come crashing down and you need that money, do it now! Being homeless and poor is not something to take lightly because it happens all around us. For those who have survived and experienced this life many go on to motivate others how NOT to land themselves on the streets. Today’s fan question shares some deep secrets about the time his parents found themselves living on the streets with no savings and nowhere to go. It’s either the parents writing to me or their children because for one reason or another money is a big problem. It doesn’t matter whether you are a student or have a high-profile job if you don’t know where your money is going it’s your own fault when you don’t have anything at the end to show for it all. I’m not talking “stuff” either. I’m talking about cash and investments. If you earn money you should have some sort of system to save money and budget or in the least know your expenses and track them.   Life Choices   It seems from my experience with fan […]

Is it wise to stay home and pay off my student debts?

I WANT, I WANT, I WANT   Ah, the student debt fever doesn’t hit until school is done and reality hits the young adults of today. End of the school year 2014 is quickly approaching which means many graduates will be free from their education but not from their student debts. Today’s post is based on a question in the CBB mailbox from a student fan who was looking to me and all of you for some advice on what he/she should do after University because of student debt load. It’s funny how many people when given lump sums of money or money in general will live in the moment especially if they don’t have any savings to back them up. The feeling of happiness that money brings to most people overrides anything that will happen after the fact such as paying it back. I know a friend of ours who year after year gets in a financial bind and has to get a loan from whoever is silly enough to give it to them. In the months leading up to actually finding someone to give them a loan to pay off their debt they are miserable, have no money […]

How my co-op program shaped my work ethics

EXPERIENCE LASTS A LIFE-TIME   Co-op programs have been around for ages now and the kids that do get involved have for the most part come out from the placement with a positive learning experience. We’ve talked about career choices and how they should be your own and not up to your parents and taking advantage of any co-op program experience might be your ticket to self-learning. While relaxing a little last night and watching some programs that had been previously recorded the show “Undercover Boss Canada” came on. The television program is based on a British television show called “Back to the Floor” from a several years ago and encourages the Boss to get back to the nitty-gritty. The Undercover Boss segment in question was about the “Toronto Zoo” which in itself was very interesting but also made me think about my involvement in a ‘Work Experience‘ as we call it in the UK a ‘Co-op Program‘ in Canada when I was still in school.   Co-op program   What is a co-op program? Also known as co-operative education in Canada securing a co-op placement is a head start above the competition when it comes time to look for […]

Should your career choice be up to your parents?

WALK YOUR OWN PATH IN LIFE   When trying to pick a career choice for the rest of your life it’s not an easy task for someone who may still be a teenager and still in high school. The reality is that many people go on to change careers over the course of their life for many reasons. Does money and success buy you happiness? Sure, everyone wants that great career that pays out more money than the actual amount of effort put in. However, not everyone is built the same and one persons passion will be different from another. The work ethic, studying philosophy and creativeness begins at an early age, depending on what your child finds an interest in. I can quite easily say that there is also some inherent genetics that play a part as my own brain and interests are definitely similar to my fathers.   How to encourage your child   I can remember as a child growing up that my parents had obviously seen that I had an interest and certain developing skills that led them to encourage and pursue similar activities for me. They also bought toys and encouraged my interest in activities related to […]