Co-founder and CFO Money Coaches Canada
Money lessons start at home. Children and lots of young adults learn by watching and imitating their grownups. Just like teenage driving lessons, it’s all too easy to absorb mom and dad’s bad habits when it comes to money management. When polled, 75.9% of young people cite their parents as being a major influence on their money habits. Better to inherit the family nose than less than stellar financial values. Luckily there are plenty of age-appropriate money conversations parents can have with their children. Here are some practical ways to get money conversations rolling.
Bite the bullet and start talking about money
Many of us learned that discussing money is impolite, and that can be a wall when it comes time to teach kids about financial literacy. Just once or twice a week is enough to do the trick. Opening the lines of communication when children are young by showing them how you pay bills online, explaining the correlation between the hydro bill and a warm home in the winter or giving them an allowance to manage, goes a long way towards keeping a healthy dialogue open as they get older. Continue reading
Being grateful has been shown to positively impact our lives. Our ability to experience and express gratitude influences our relationships, our emotional and physical health and even our careers. Yet, we also live in a culture that tells us we need more. This tension is never more obvious than during the Christmas season, with so much pressure for the “perfect” holiday.
Introduction
Here’s what Bruce and his team had to say:
Investing is one of the most popular personal finance topics out there. And why shouldn’t it be? Bitcoin! Tesla! NFTs! Buy! Sell! Hot stock tips! These are so much more exciting than budgeting, taxes and insurance. And investing is a great water cooler or dinner party topic; lots of people have success stories of their aunt or brother-in-law who bought Apple or Amazon or weed stocks when they were at bargain basement prices. It sounds so easy, but the reality is a different story. Successful do-it-yourself (DIY) investing requires a combination of technical savvy, behavioural discipline, and a broad range of related knowledge.
I often get asked ‘how can I save more?’ This might help to get you started. Which statement currently best describes your situation?
I’m not sure when it happened, but several years ago I realized that the tables were turning in my relationship with my parents. Although still extremely healthy and vibrant at the age of 70, my parents were starting to ask me for advice and I could feel a subtle shift in the balance of power.
The Fear Of Missing Out (FOMO) is aliv
