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 […]

Summer Jobs For Students: Tips For Finding The Perfect Job

By: Katrina Now that school is over, at least for College and University students, it’s time once again to find those perfect summer job opportunities.  For the majority of students, the summer means 4 solid months of money-making time that should not be wasted. So, what can you do to make the most of those months to save up tuition money and expenses for the following school year or to start paying down OSAP loans or other school debts? If you are University or College bound prepare your finances now rather than later because money can mount up fast when you don’t have a plan. It’s also a great way to plan ahead for your student budget before heading back to University or College if you know how much money you have earned over the summer months. Below are some tips that I’ve learned over the years which worked for me or others that I know to find summer season jobs to make money. Don’t be afraid to put yourself out there, after all most employers are looking for employees that are creative, go-getters and want to work hard for their organization. Seasonal Jobs Many landscaping, painting, and window washing companies as […]

PF Weekly Reading List #11- Free Money, Want Some?

Free Money, imagine how fast that would spread like wildfire at the office. I had a laugh then a jolt of concern this morning while I was reading the news about this 12-year-old student who was handing out money at school to her classmates. I’m sure you can imagine hoards of kids running up to this student wanting to see what she had in her bag. The article  states it was quite the “show and tell” but I say likely none of the kids cared where she got it from so “show and get it while you can” was on the playground agenda. It’s free money after all who would turn that down? Most kids that age know that money can buy “stuff” so why not get in on the action. The money was later all retrieved by the school so they could hand it over to the police to investigate. To shorten up the plot a girl who lives in Detroit, Michigan (Student B) is given a backpack from her friend (Student A) who lives across the street from her. The scenario below is what I imagined going down with the money although likely far from it. I just like […]

How I Paid Off My OSAP Loan Fast

A STUDENT LOAN IS A BIG DEAL   I never dreamed that I’d have such a large OSAP (Ontario Students Assistance Program) loan when I finished my education. Sure I would sign off twice a year to receive the money but when you are only accepting a couple of thousand at a time it is hard to picture the total amount of money that I had been given. If I only knew then what I know now than I may have made different choices when it came to my personal finances. I hope that all the parents and students who read my story can take away some valuable tips to use along their path towards financial freedom. My OSAP loan story   My name is Carla and I grew up in a second generation Italian home in a nice neighbourhood with my parents and two siblings in the Greater Toronto Area. As kids we never went without, our parents put us in many activities, sports, etc. We did not go on fancy trips but we still had a great lifestyle. My parents never involved us in finances nor explained budgets or bills, everything was always paid for and that was just what was expected. My parents saved for some […]

Lessons Learned From My First Retail Credit Card

Guest Post By: Bog Of Debt – A 27 year old tackling debt head on and sharing her journey. When I was able to open my first credit card, I was on top of the moon. The card was entirely for “building credit” or so I told myself.  I eventually slipped farther away from the goal of building credit and closer to buying things with money I didn’t have. Then came this offer while I was shopping at JC Penny. The conversation went similar to this……. Store Clerk:  Do you have our store retail credit card? Me: No? Store Clerk: Well would you like to sign up for our retail credit card? Me: Well that depends….hmmm Store Clerk: We offer 20% off your first purchase if you’re approved plus there are many deals only valid for our card holders. What is a retail credit card? A retail credit card is a card offered by a specific store or department store and they offer you special deals and discounts for using their credit card! Instantly dollar signs started going off in my eyes! I had the cash money for the clothes I was purchasing and my bank credit card was almost maxed out so I couldn’t […]

Back to School Student Budget For College or University

GRADUATE DEBT FREE   Do you need a back to school budget? I always say yes but it’s up you what you want to do with your life. I don’t think schools offer debt management degrees so either you buckle down or risk more debt than you can handle after school. A school budget is essential for most students I’ve talked to but the hard part is getting started and I’m going to show you how today.   Back to school Budget   I get so many emails from students wanting to know how they can budget their money when they go to school. You may graduate with student loans BUT you don’t need to graduate with tonnes of consumer debt. Budgeting doesn’t need to be stressful as it is fairly simple.Sometimes we put too much emphasis on not being able to spend money when we can IF we spend it wisely and budget our money. Now is the time to prepare your finances if you are University or College bound. Some people make a budget look harder than it actually is but for some just starting a budget is the most terrifying part of the process. A budget can […]

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 […]

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