Financial literacy is an essential skill that helps children develop money management skills, promotes financial independence, and enables them to make informed financial decisions. It is important for children to learn about Financial concepts and principles at an early age to set them up for financial success as adults. The lack of financial education is…
A good lesson for children to learn early on is the power of saving. That $20 bill Grandma gave them can supplement their allowance, allowing for a bigger purchase in the future if they save it now. To help demonstrate the benefit of saving, brainstorm some ideas with your child about what they might want…
You can kickstart financial literacy at home with books designed for every age to teach your kids the ins and outs of money management.
Here are some things to consider when getting a loan.
If you’re looking for a helpful app to get started check out Mydoh, powered by RBC. It is a helpful tool to educate and show your children the comings and goings of their money while learning how to make smart money choices. It’s a money management app and Smart Cash Card (which includes a digital…
silent alarm of a much-needed diaper change. While you and your other half grapple with who’s taking the night shift and who gets some extra shuteye, a conversation about money will feel like your last priority.
Providing for a family is stressful. Minimizing debt, creating a budget and saving for post-secondary education ASAP are strategies that can help.
Financial psychologist Bradley Klontz and his partner Sonya Britt believe the answer to that question is as complicated as we are. They say that the way we respond to money and the world around us is shaped by the generational forces of our family, culture, and socioeconomic backgrounds.
In late August, the Canadian government warned eligible Canadians who have not yet filed their 2019 tax returns about the possibility of getting cut off from receiving the Canada Child Benefit (CCB) or GST/HST credits moving forward until they file. The 2019 tax filing deadline was delayed earlier this year due to COVID-19, and pushed…
Do you have a child with a learning disability or ADD/ADHD? Is it putting an enormous financial burden on you? If yes, then this article is a must-read, because there is hope and relief for you in the form of the Disability Tax Credit! For over 30 years, the Disability Tax Credit has helped disabled…
The thought of post-secondary education can be terrifying for parents. The idea of their children leaving the nest and becoming adults, coupled with the fear of the, potentially, enormous education bill makes any parent concerned. As we all know, the cost of post-secondary education increases annually. If your child is currently five, the cost of…
Parents Don’t Know the Full Costs of Post-Secondary and Don’t Have a Written Plan - Says Ipsos and Knowledge First Financial Recent findings from an Education Savings Week Ipsos1 Survey commissioned by Knowledge First Financial found that Canadian parents do not know the full cost of a post-secondary education. Two-thirds of parents of children aged 12 and…
Kids are starting on the money track sooner than their parents did, but it’s not helping them to manage money on their own any sooner, says a new CIBC poll. The poll, which surveyed Canadian parents with children aged 24 or under, found that on average, kids are opening bank accounts, receiving allowances, managing their…
The ‘job’ of being a parent comes with many benefits. From re-experiencing the world through the curious eyes of your little one, to always having an excuse if you want to skip a night out with friends (sorry, staying in—couldn’t find a babysitter!), you see the positive aspects of parenting. However, most parents will also…
It's hard to keep track of the changes to our family benefits, but the upcoming change from the new Liberal Government is definitely going to make a difference to your monthly budget. It is supposed to be an increased amount for 9 out of 10 families! The Canada child tax benefit (CCTB) is a tax-free…
As parents, we want to do what’s best for our children, and part of that is ensuring they have a good education. When is comes to saving for their post-secondary education, things get confusing, especially with RESP’s. We polled our Facebook Fans to find out what they were most confused about when it came to…
To help with tax season, we've received some expert advice from the CRA on how to maximize your returns if you are part of the sandwich generation.
