Financial knowledge is at the heart of stretching our dollars. For those with a severe and prolonged disability, saving money can be particularly challenging, given the expenses that often accompany disabilities and, in some cases, the difficulties getting or holding a job. And if you are tending to a loved one with a disability, extra costs likely are involved.
Jamilah Taib Murray founded Sakto Corporation, one of Ottawa's foremost property development and management companies. She is a long-time philanthropist with a particular dedication to fostering education for women and children, and female empowerment through promoting participation and leadership skills building
The birds and the bees may not be the only difficult conversation you'll be having with your kids, discussing money and finances with your children can be just as challenging. Given the lack of mandated financial literacy courses in Canada, parents can fill the void by teaching financial concepts to their children early on.
According to Statistics Canada, the "sandwich generation" now includes more than two million Canadians -- or 28 per cent of all caregivers in Canada -- with the majority being women between 35 and 44 years old. This number is only expected to rise as Canada's population ages and the older generation is no longer capable of caring for themselves. That leaves us with a generation stuck with caring for their late-leaving adult children and their ailing parents at the same time. How do they cope?
When improving or correcting money management behaviour in others, we must be sensitive to the personal and emotional definitions of value that are consciously and unconsciously involved. Yet most financial literacy programs avoid this altogether and focus on the more pragmatic and practical skills.
CPA Canada released a Summer Spending Followup Survey, which revealed that 42 per cent of those surveyed were essentially on-budget this past summer. What does this have to do with holiday spending? Quite a bit, actually. Those who fared better followed a few basic principles we might all want to remember.
The fact many Canadians are living beyond their means and are vulnerable to economic shocks highlights the importance of Financial Literacy Month (FLM), which takes place each November in Canada. This year, FLM aims to use the national strategy as a springboard to rally support across the country in the effort to help Canadians become better money managers.
Since gender equality is one of the most important issues in terms of sustainable and healthy growth, Turkey has launched a new engagement group, Women20 (W20), which will concentrate on enhancing the role and increasing the participation of women in business. In addition to gender equality, ensuring women have access to financial assets will form the backbone of global growth.
The post-secondary years are the ideal time to lock in great habits and fill any gaps in your children's financial education. Regardless of whether there are savings set aside or loans to be taken, managing the dollars matters. It's our young people who gain the most from good advice as they take on increased responsibility.
These five lessons made me a personal finance expert and provided the foundation for an awesome life. Money is a fuel for all the things that you want to be do in life and being smart with it makes things easier. Get your kids to understand and love money as soon as you can. Hard work and mastering money will take them the distance.
Regardless of your age, your job or your personal interests, the topic of money will always be relevant to you. You've likely heard terms "money management" and "financial literacy" countless times before, and with good reason -- having a clear understanding of your finances is non-negotiable if you hope to have a sound plan for your present and your future.
The National Strategy for Financial Literacy - Count me in, Canada is an ambitious playbook for country that brings together a wide range of stakeholders, identifies priorities and targets deliverables. It's time to act. Canadians who acquire financial knowledge today will be positioned for a better future.