“For affluent parents, it’s a concern – educating their kids about money,” says Robin Taub, a Toronto-based chartered professional accountant and author of A Parent’s Guide to Raising Money-Smart Kids. “Most parents want their kids to be financially responsible and independent.”
Evan and Todd discuss how parents can improve their financial literacy and teach their children with confidence with Robin Taub, financial consultant and author of “A Parent’s Guide to Raising Money Smart Kids”.
A 2015 survey conducted by Chartered Professional Accountants Canada uncovered similar results: “At the total level, female members have a median total compensation of $99,000 versus $120,000 among their male counterparts.”
Experts say that encouraging children to follow the stocks of established companies that make products they like is a great way to develop an interest in the stock market. It could spark a lifetime appetite for smart investing.
Your children may not always look like they’re listening, but they’re certainly watching. That’s why it’s important to make sure your actions line up with what you say, especially when it comes to managing your money.
When it comes to paying kids an allowance, there’s a lot of disagreement over the best way to go about it. When to start paying allowance, whether to tie it to chores, and how much to pay are all matters up for debate.There’s one thing, though, that financial experts agree on and studies support: Giving kids an allowance is a great way to teach them how to handle money.
If you’re not teaching your kids about money, who will? If it’s someone else, are you comfortable with what they’re teaching? Parents need to be a part of the learning process, so here are ways to help your children avoid money mistakes and learn to be responsible with money.
Robin and Jessica discuss how to raise money-smart kids, what to talk about with your kids at different ages, and how this personal finance education can truly empower your kids and give them confidence.
The most common mistake parents can make when it comes to teaching their kids about personal finance is not teaching their kids about personal finance, says Robin Taub, author of A Parent's Guide to Raising Money-Smart Kids.
Parents and teachers tell children to reach for the stars, but what they don’t tell them is that that’s where tuition fees are headed, too. A recent report by the Bank of Montreal showed a child born in 2013 could look forward to paying $140,000 in tuition fees for a four-year university degree.
The only thing worse than finding out you owe taxes is not being able to pay them. The good news is there are things you can do to address the situation. Just remember: you can run, but you can’t hide.
New Year's resolutions usually focus on food and fitness, but there's no reason they can't also address finances. And to actually follow through on them, financial experts say it takes little soul-searching.
If you've ever worked out with a personal trainer, you've heard all about setting fitness-related goals. And chances are you made them SMART ones — specific, measurable, attainable, relevant, and time-related. Those same concepts are vital when it comes to financial goals. Help kids understand short- and long-term goals and they'll establish smart money habits for later in life.
...whose responsibility is it to educate today’s youth in responsible financial planning? Arguably, parents are having a tough enough time managing their own finances and may lack the skills to educate their kids.
Parents usually know best, but when it comes to setting a good financial example for their kids, a quarter of Canadian parents give themselves a 'C'. A new survey from ING DIRECT revealed that while 92% of Canadian parents believe they should be responsible for teaching their kids about money, 61% feel they could be doing more to educate their kids about the basics of saving and spending.
Should young adults, the ones who earn little or no money, bother filing a tax return? What kinds of tax breaks are available to students and how do they go about getting them?Chartered accountant Robin Taub, the author of A Parent's Guide to Raising Money-Smart Kids, answered your tax-related questions.
Financial Literacy is a big problem across Canada with many young people unable to understand even basic skills like, what does it mean to save, how do you open a bank account and how much do everyday items cost. Money knowledge starts at home. Research shows, if children are exposed to money matters early in life they will be better equipped to handle their finances as they get older.
Rob Carrick of the Globe & Mail interviews Robin in a series of videos on “Let’s Talk Investing”, a co-production with The Investor Education Fund.Part 1: Seniors may want to stash dividend stocks in a TFSA.