by Pam on August 19, 2010
There are a lot of great resources online that will help you teach your children about money, whether you are a parent or a teacher. One website that is a one-stop shop is MoneyInstructor.com. The website contains all kinds of lesson plans, worksheets, and activities designed to teach kids about finance and other basic subjects. Most of the lesson plans are geared towards elementary school aged children.
You will find worksheets that teach basic math skills, how to count money, how to tell time, how to read a calendar, and a whole lot more. There are also activities that teach kids about bank accounts, different types of investments, and so on.
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by Pam on August 17, 2010
Did you know that there are currently 937 billionaires in the world? Compared to the 6 billion people that live on our planet, that’s an extremely small number. So what do these folks seem to have in common? According to an article on globeinvestor.com, most billionaires share 5 common traits: entrepreneurism, frugality, vision, risk-taking, and patience.
So billionaires are entrepreneurs with a vision who are not afraid to take risks, but are patient enough to know when it’s the right time to make their move, and even though they may be rolling in the dough, they don’t spend their money foolishly. That doesn’t sound so hard, so why do so few of us end up to be billionaires, or even millionaires for that matter?
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by Pam on August 15, 2010
If you enjoy playing video games as a hobby, you may find that it can really hurt your pocketbook if you buy all the latest games at full price. One way to enjoy the games without spending an arm and a leg is to buy used video games online or at stores such as Blockbuster. Patience will always save you money as well. Rather than buying the newest games when they are first available and paying an exorbitant amount of money on them, wait for a while and the prices will go down, especially after another version of the game is introduced.
If you would rather not wait, then buy the game at full price. Play it until you are tired of it, and then sell it on E-bay or on a used website local to your area. Many large cities in Canada have a site where you can post your item for free such as www.usedcalgary.com, www.usedtoronto.com, etc. You won’t get all of your money back, but used video games are usually fairly easy to sell for at least half the price you paid for them, and likely more if you are selling the latest version.
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by Pam on August 13, 2010
After talking to a lot of people about their life goals and dreams, it has become obvious to me that most people are chained to their current jobs due to the benefits and salary. They have lots of other things that they would like to pursue and do, yet they feel that they must continue to work at a job that pays well and possibly has a pension plan. I refer to this type of lifestyle as the golden handcuff syndrome. From conversations I have had with various people recently, I have heard many people say that they would do a different job if they could find one that paid them as well as their current job. Others have said if money wasn’t an issue, they would feel free to pursue their other life goals, but due to their need for a salary, they don’t have the freedom to do the things they love.
It’s clear that many of us are doing what we’ve always been taught to do: work, earn money, pay the bills, and be responsible. I guess I hope that there is something more out there than just paying the bills.
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by Pam on August 11, 2010
While reading 101 Tax Secrets For Canadians 
I stumbled across some really helpful tax tips that could save your family money.
- Have your children file a tax return as soon as they start to earn an income, even if they aren’t earning a lot. By doing so, they will start to accumulate RRSP contribution room which will result in future tax savings. This is also a great learning experience for your children as they have input into their finances.
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Free stuff is always fun, and I recently received an email about My Coke Rewards and the free stuff they are giving away right now. Apparently there’s a promotion going on where they will be giving away one million points over the next two months that can be redeemed for all sorts of fun prizes.
The email I received with the details is as follows:
“I thought you and your readers would be interested in the following information about the launch of Coca-Cola’s My Coke Rewards Million Point Giveaway—its biggest points giveaway to date. During the Million Point Giveaway, My Coke Rewards is thanking its members by awarding thousands of free points every day that people can redeem for things they love, including portable DVD players, gift certificates and free Coca-Cola products.
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101 Tax Secrets For Canadians: Smart Strategies That Can Save You Thousands by Tim Cestnick
I recently borrowed 101 Tax Secrets For Canadians from our local library and have found it to be extremely eye opening in terms of the numbers of ways Canadians can strategize in order to reduce the amount of taxes they have to pay. We can do so much more than just contribute to RRSPs to minimize taxes. The unfortunate thing is that most of us are just not aware of many of these strategies. So the next time you are tempted to complain about paying tax, try implementing some of these tips instead.
The book is written a lot like a textbook. Each chapter focuses on a different aspect of tax planning including strategies for retirement, self –employment, employees, family tax planning, estate planning, and more. The book is fairly easy to understand and it contains practical advice on building tax savings strategies. If you are interested in learning more specifics on how to save on taxes every year, I would definitely recommend that you read this book. Although tax laws continuously change, this book has been revised into a 2010 edition so everything is up to date.
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There are a lot of great resources online that will help you teach your children about money, whether you are a parent or a teacher. One website that is a one-stop shop is MoneyInstructor.com. The website contains all kinds of lesson plans, worksheets, and activities designed to teach kids about finance and other basic subjects. Most of the lesson plans are geared towards elementary school aged children.
