How to explain basic budgeting to kids
It's worth repeating these 3 things
Car loan interest rates: What’s the best Canadians can get?
Car loan interest rates can be as confusing as a complicated recipe, and just as daunting to navigate. This...
Spending less than you earn is the bedrock of good financial literacy, but it’s foreign to most kids. Your young child might have trouble grasping this at first, but it’s worth repeating:
1. “Say I give you $16 a week”
2. “You spend $2 each school day on a slice of pizza”
3. “That leaves $6 to put in your piggy bank”*
*Or bring your lunch and save it all!
More on how to explain…
Compound interest to kids » Net worth to kids »Ways your kids can earn and save
Run a successful lemonade stand » Save money at school »Awkward parenting questions
How can I avoid money tantrums? » Should you pay your kids to volunteer? » Should I buy my 10-year-old a smartphone? » Does my kid need a clothing allowance? » Should I give my teen a credit card? » My kid called from college and is broke again »More tips on how to raise money-wise kids:
Ages 0 to 6: My first money moves » Ages 7 to 12: Saving not spending » Ages 13 to 17: Big kids, bigger budget » Ages 18+: Preparing to launch »Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
Auto loans for newcomers—questions to ask when buying your first car in Canada
Buying your first car in Canada is like any other major purchase. Ask a lot of questions, not just...
What is the Canada Carbon Rebate? Plus, dates and amounts for 2025 rebates
The Canadian government is sending out the last carbon rebate of 2024. See who’s eligible and how much you...
Personal Finance For Canadians For Dummies excerpt: How to manage money and stop overspending
Learn how to manage your money, understand your earnings, invest wisely and more, from this excerpt of Personal Finance...
Secured loans vs. unsecured personal loans: Which should Canadians get?
Before taking out a loan, learn the differences between these two types, which has better interest rates, and which...
Year-end tax-saving tips for Canadians for 2024
Tax planning in Canada isn’t just for March and April. These smart tax moves need to be made before...
