Ever think about money? Ever think about where you learned the money concepts you follow today. If you live in Canada, you most likely did not learn about money in elementary school. You definitely didn’t learn about savings, investing, TFSA’s or retirement. When it comes to what we know about money it was our families who taught us.
My parents taught me you have to work hard to earn every dollar but both of them lived pay cheque to pay cheque. Savings and investing was never talked about. My grandfather was an astute businessman who bought and sold properties. If you drive an hour north of Toronto, he owned many cottage lots that he sold off in the fifties one by one. He is the one who taught me to work hard but also have your money invested and that it could grow.
How do you pass on what is important to your children?
How are you teaching your children about money?
Money concepts are not part of the curriculum much here in Canada. Financial literacy isn’t taught to our children. It is up to us the parent to teach children about money.
Do you feel you know enough to be able to teach them well?
Even young children can understand basic money conversations. I know I started talking to my own daughter about money when she was five. It all started with a piggy bank and later a bank account. I also instilled in her the importance of giving back no matter the income level.
Here are some great teaser tips from Tangerine to get you started.
Hope to see you at the Twitter Party on Tuesday night for a great conversation with Robin Taub. There is NO RSVP and there are 4 prizes being given away!