Because to have good financial habits, you have to start young. And the financial habits you develop now will likely follow you for the rest of your life.
Did you know that:
• 50% of Canadians don't have a budget
• 2 Canadians out of 3 have a hard time paying their debts
• 6 adults out of 10 failed their financial knowledge test
You don't want to be part of the statistics, do you? That's why you should be concerned about finances even if you're not earning much money yet.
November is Financial Literacy Month. I can already hear your question: What's that? It's a big word that means our ability to make sound financial decisions.
5 tips to make better financial decisions
- Ask questions: approach your parents, teachers, youth financial finance advisor.
- Make and stick to budget (even if you're not earning much).
- Observe your relationship with money: are you a saver or a spender? Be honest with yourself!
- Read to find out how well you understand financial vocabulary and basics.
- Sign up for classes to improve your weak areas.
Every step you take will pay off for you. Because when it comes to finances, learning is enriching in more ways than one!