Ages 13 to 17: Teaching teens to budget Aug 24th

Insurance policy getting you down? There are always sound insurance alternatives.
Latest News

Your complete guide to getting the best car insurance in Canada Sep 13th

Auto Insurance Your complete guide to getting the best car insurance in Canada In under five minutes, get a personalized car insurance quote from one of Canada’s top providers—free of charge. Just tap the button to get started. Get a free quote.... More »

What is short-term disability insurance? Sep 17th

Short-term disability (STD) insurance provides income for someone over a short period of time if they can’t work because they’re ill or injured, have been in an accident, or are in the hospital. STD insurance is often offered by employers as part of their workplace benefits package. It’s not .... More »
Ages 13 to 17: Teaching teens to budgetIt happens so fast you could miss it. But in their teens, kids need to start moving from thinking about money in small amounts (weekly) to larger amounts (monthly). “They should start getting more money for longer periods of time, but now they also need to start taking personal responsibility for some spending categories themselves,” says Certified Financial Planner Trevor Van Nest. So if you were giving them $20 a week, you may want to give them $80 monthly plus a bit extra for new teen expenses like music subscriptions and clothes.

Empowering teens with their money

This is also a time when many teens will get a part-time job. But whether it’s summers at the local fair or a few shifts a week at McDonald’s, you can help them out by talking them through concepts like minimum wage and negotiating hours of work so they maintain a work-school balance. Most teens will also be anxious to know why money is coming off their paycheque for taxes, employment insurance and the Canada Pension Plan…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!