Kids and Money

Teach Your Children Financial Lessons While They're Young

Jeffrey Schwartz | Posted 06.16.2016 | Canada Parents
Jeffrey Schwartz

When your child starts to understand the concept of money, you can give them a monthly allowance to help them save for a new toy or clothes. This way they can start to understand items in the store are not free, you have to pay for them. If your child wants the latest Thomas the Tank Engine train set, explain to him or her, how much it costs and how much money they would need to save up to buy it.

Want Your Kids To Be Money-Smart? You're Their Best Teachers

Cairine Wilson, CPA Canada | Posted 04.19.2016 | Canada Parents
Cairine Wilson, CPA Canada

Our kids are often most receptive to advice when it starts at home. The best time to begin is now. For example, even preschoolers are ready to start thinking about finances. If they know mommy or daddy goes off to work, they can understand why -- the answer is to earn money.

How To Teach Kids Value Of Hard Work

The Huffington Post Canada | Isabelle Khoo | Posted 05.12.2016 | Canada Parents

Parenting expert Alyson Schafer shares the best way to deal with kids' allowance.

How To Teach Your Kids About Smart Spending

The Huffington Post Canada | Isabelle Khoo | Posted 08.06.2015 | Canada Parents

It's never too early to teach kids about money.

8 Tips to Teach Young Kids About Money

Dr Dina Kulik | Posted 10.04.2014 | Canada Living
Dr Dina Kulik

Are your kids dying to go on a special trip? Want a new computer or basketball net? Try 'saving' as a family. Have your kids help you save, and let them help you make smart choices so that you can save towards the common goal.

How the Rich and Famous Can Teach Us to Save

Deborah Nixon | Posted 12.17.2012 | Canada Business
Deborah Nixon

Those who have seen the documentary Queen of Versailles usually laugh at the outrageous lifestyle of David and Jacky Siegal, a billionaire and his trophy wife. The film begins in 2008, before the market crash. The economic downturn froze the construction of their incredible 90,000 sq ft mansion in Florida. But we can learn from them. What kids and adults need are some lessons in the lost art of budgeting, living within your means and learning not to spend what you don't have.

Easy and Fun Ways to Teach Your Kids About Money

Jeffrey Schwartz | Posted 11.28.2012 | Canada Business
Jeffrey Schwartz

The average Canadian owes $1.54 for every dollar earned. Being debt-free or eliminating debt is more than merely a financial battle; for many, it's emotional, psychological and habitual. That's why learning smart spending habits is crucial from a young age. Getting your kids involved in financial planning and shopping gives them impactful, hands-on experience in budgeting. Here are some great tips to teach your younger and university-aged children to budget and save.