Financial Literacy

Financial literacy – a challenge at any age

Financial literacy - a challenge at any age

An article[1] from the Urban Institute profiled a young woman who “…gave up on her local bank five years ago” and now relies exclusively on store front cheque cashing companies (such as payday loan companies).  Her “bank account” is a pre-paid or re-loadable debit card.  She admits that she sees no need to ever use a bank again.  These less traditional […]

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All I want is to not stress about money

All I want is to not stress about money

Why do so many personal conversations take place in crowded public places?  When I commuted on the GO Train in the Greater Toronto Area I heard many one-sided telephone conversations.  The range of topics was very broad and included romantic arguments (these seemed to attract the largest listening audience on the train), job interviews (I’m not kidding) and personal banking […]

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The global financial crisis and the lasting psychological effects

The global financial crisis and the lasting psychological effects

The 2013 Canadian Unretirement Index Report from Sun Life Canada (www.sunlife.ca/unretirementindex) provides, in my opinion, a fascinating perspective on the psychological health of Canadians aged 30 to 65, at least as it relates to money.  The survey has been in place for five years, starting in 2007, and spanning the global financial crisis (GFC) of 2008-2009.  There is a very […]

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From Home Owner to Renter

From Home Owner to Renter

In the past year I have gone from home owner to renter. This occurred as part of a 4,000 kilometre move. I loved the home I owned in Ontario. With the basement it was about 2,700 square feet. The apartment in BC is about 1,000 square feet, plus storage locker.  This move has given me more perspective on the changes […]

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Top 3 Things Your Should Know About Aging and Government Entitlements

Top 3 Things Your Should Know About Aging and Government Entitlements

I have to admit that when I need to phone either a provincial or federal government office, I generally procrastinate.  I anticipate the worst customer service experience.  I think I’ll get the run around or be left on hold forever.  However, the reality is that almost all of my experiences have been very positive and none have been out-right terrible. […]

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Excellent guide from CFP Board helping seniors protect themselves

Excellent guide from CFP Board helping seniors protect themselves

A recently released guide from CFP Board©, written by consumer advocate Eleanor Blayney provides helpful guidance.  You can access it here: http://cfp.net/docs/publications/financial_self_defense_guide_for_seniors.pdf?sfvrsn=2    The full title is self-explanatory: Financial Self-Defense for Seniors – Know the Red Flags and Avoid Financial Abuse The layout of the booklet helps information to be conveyed very clearly and easily.  There are 10 red flags (or […]

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Don’t blame your parents for your lack of financial education!

Don't blame your parents for your lack of financial education!

This post is about adult children.  Another post about dependent children is here: http://agenomics.ca/?p=450 There is increasing emphasis on financial education and financial literacy.  Main stream media and academic journals are adding their voice to the call for more financial education.  A similar theme weaves through each published piece.  The theme is:  my parents didn’t teach me enough about financial matters.  The […]

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Teaching our children about financial matters – Parents must lead by example!

Teaching our children about financial matters - Parents must lead by example!

This post is about dependent children.  Another post on adult children and financial literacy is here:  http://agenomics.ca/?p=447 66% of respondents to a 2011 poll by the BC Securities Commission indicated that their parents/family taught them about financial matters.  http://www.investright.org/uploadedFiles/resources/studies_about_investors/National_Youth_Survey_Full_Report-25-10-11.pdf  This number isn’t surprising.  Parents should be the teachers of life skills, including financial skills. A more recent initiative – Talk […]

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Gifting – Question #2 – Grandchildren & Step Grandchildren

Gifting - Question #2 - Grandchildren & Step Grandchildren

There is quite a range of opinions on whether gifting should happen for the younger generation (the grandchildren) or just for the children.  It is entirely your personal choice – after all – it’s your money.  However, when gifting to the grandchildren it can be tricky to keep things fair.  One of the issues that arise occurs due to the […]

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