It has taken a lifetime – or two – or several million – to witness the recent realization that the government in Newfoundland-Labrador has had in understanding the draconian nature of lending huge sums of money to poor people to get a post-secondary education that’s necessary for finding a job – and doing something about it.
As reported by CBC news on August 3rd 2015, provincial student loans have now been replaced with non-repayable grants.
I’ve often wondered why the major political parties, federal and provincial, have methodically steered away from the issue of student loans for decades. The … Read More >
Also posted in Debt, Saving Money
We spend a lot of money on our kids these days, and a lot of it isn’t necessary. We came up with a list of common mistakes and thrifty solutions for you to save money on kids in a big way. Not all of these will apply to you or will work for you, but hopefully some of them will resonate and help you in your noble quest to save money.… Read More >
Also posted in Blog, Saving Money
Wouldn’t it be great if your child was an entrepreneur, so they could pay for their own school supplies and friends’ birthday gifts?
Joking aside, the reason your child should be an entrepreneur is not to support themselves at an early age, fast forward their childhood to the world of business and get a head start on their empire. No. The reason your child should be an entrepreneur is financial literacy.… Read More >
Lots of good coverage has been happening lately about the many dimensions to money and debt in the modern cellular-cybernetic world. From the Vancouver Sun comes an article supported by the Investor Education Fund Canada group that suggests half of all Canadian students aged 17 to 22 feel they should be better educated on how to handle money. The topic of youth money and debt certainly deserves more attention and action.… Read More >
Before you start:
If your children are still too young to understand handling money (probably under 4 years, but you know your own child best), begin by teaching them that they won’t be rewarded with “wants” by nagging, whining and crying. Say no, and only reward good behaviour with treats, when it fits in your budget that is. Another initial lesson for the younger set is learning patience and delayed gratification – these are the building blocks for controlling impulsive purchases and saving for special things. For example, tell your child she can have a cookie after she and everyone … Read More >
Should kids be rewarded with money? This is a million dollar question. The Globe and Mail brought the familiar topic up in November. As I read the article I couldn’t help thinking about Pavlov and his famous experiments on conditioning behaviour. Money has been widely accepted as a positive reward, but how money influences human behaviour is a little more complex than ringing a bell to get a dog to salivate or getting kids to act in a certain way by waving a dollar bill in front of their noses.… Read More >