Making sense of the markets this week: September 27, 2021 + MORE Sep 25th

There’s more to college and university than classes. Navigating the costs that come with a post-secondary program is just as much a learning experience as Psych 101—for both students, and the adults in their lives. The best time to start—both saving for school, and learning how to handle money—is when kids are still young. That’s why our Student Money Guide begins with the basics: How to help kids understand the value of money; set them up with their first bank accounts; and all about registered education savings plans (RESPs).

When kids are grown and ready to live on their own, check out the sections on applying for student loans, scholarships and bursaries; covering tuition costs, handling housing expenses; and more. 

What do you need help with today? Click on any topic in the list below to jump to the full information in this guide:

For parents and other adults:

The best ways to help kids financiallyHow to set kids, teenagers and young adults up for success with moneyHow to get kids in the habit of savingWhat is an RESP?How to withdraw from an RESPHow to make RESP withdrawals for kids with different educational pathsHow to save money on student housing costs

For students:

Everything you need to know about financial aid in CanadaHow to apply for OSAPHow to save money while you’re in schoolThe best credit cards for studentsThe best bank accounts for studentsIs owning a car worth it for students?

The best ways to help kids financially

Regardless of whether your kids are fast approaching their post-secondary schooling or just graduating from kindergarten, the sooner you and your child start saving for education costs, the better…

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. 

What was behind this week’s “mini-crash”

The big story of the week fizzled out. Investors had been taking a breather over the last month or so, with markets down slightly over the period. U.S. stocks dipped  just over 2% for the month, heading into this week. Then came a “mini-crash” on Monday, Sept. 20, with stocks falling by some 3% from the close on Friday, Sept. 17, giving us the first 5% correction in 2021. 

Canadian and international stocks followed suit. 

Here’s a one month chart for the S&P 500 ETF, ticker IVV, courtesy of Seeking Alpha. 

Source: Seeking Alpha

The main source of concern was the imminent collapse of Chinese property developer Evergrande, which has been scrambling to raise funds to pay its lenders, suppliers and investors. It has $305 billion worth of bills (liabilities) coming due, and that’s stoked fears of contagion and broader risks to the financial system…