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 […]

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 […]

4 Ways To Lower Your Family’s Back To School Budget

  By: Anna Is what to buy for Back To School on your mind? Yes it’s that time again when the beautiful and blissfully relaxing summer comes to an end. The leaves start to change colour and you know it’s time for your children (or you if you’re an adult learner!) to go back to school, but at what cost? For many children, back to school usually means that they get a new outfit, new backpack, new pencil-case, new stationary, or *gasp* even a new electronic gadget!  The back to school budget can easily be busted with the rising cost of goods and inflation, and how these days, high school children want the best of everything. In fact, this year in 2012, 63% of parents plan to spend an average of $500 (Source) for the back to school budget for their children, this number is more inflated than last year likely because of the same parents polled, 40% plan to buy gadgets and electronics for their kids this year. Back to school can be a great opportunity to engage your child and teach your children about money. Here are some ways in which you can lower your family’s back to school budget […]

Going to Private School Affected My Financial Life

Private School, Yes I attended and it’s a different view from the inside. Money…..It was just something we never talked about. We never had to talk about it but it was everywhere. It was a presence when I went to public school filled with kids from the underprivileged mill community and it was an even bigger monster at the private school I attended later on. I’m not trying to paint with a broad brush and say that all private schools are like mine, but based on the popular novel “Prep” by Curtis Sittenfield and my experience I can tell you that a lot of the time was spent grouping kids into the “Haves” and the “Have- Nots”. My Dad was a successful optometrist and we always had plenty but not the kind of wealth the kids at my school had. I never had the name-brand clothes or the designer purses or the glitzy vacations to ski-resorts and yacht clubs.   I considered myself normal, lucky even to have basic needs met and then some-but at school guess which group I was in? It wasn’t as blatant as I’m making it out to be-but I believe a lot of my insecurity that manifested itself in college […]

Canadian Students College or University Bound Prepare Your Finances NOW!

I remember when I was a young bloke and on my way to University the world was in the palm of my hands (so I thought).  I truly believe I had my head on straight back then and today given the way I continue to pay myself first. That doesn’t’ ring true for most of my school mates, at least what I witnessed even here in Canada. I went back to school for 5 years and learned that debt is debt no matter  what country you live in. Most of my mates who did work while attending University simply blew the money on pints of beer down at the pub and buying crap they didn’t need. I was a simple guy who just wanted an education and a good career. Before cutting the umbilical cord from me mum and dad to start what would be a journey of reality I set some clear goals for myself. I knew I didn’t want to come out of school with any debt. I was young when I started to learn about the value of money so this was a must. I worked on weekends and in the evening to save money for University. I […]

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