Sunday, February 1, 2009

It's never too early

We had a slow day at the cafe this Sunday. One of the girls who worked there asked :" What do you know about GICs?" A little unexpected coming from a 14 year old, but I tried to explain the basics and point out some key points to watch out for.

Her plan? She wants to divide the income from her part time job into thirds. A third to save for university. A third to save for long term investing. And a third for spending. That's thinking pretty far ahead for someone her age. I mean I got as far as saving for university at her age but not the long term investment part.

But then, this is the same girl I saw reading a finance book during break a few weeks ago. Yep, at 14, her dad gave a book with a title like "How to get rich by 30".

Financial education can never start too early.

3 comments:

Fabulously Broke said...

Never too early indeed.

I am SO doing that with my kids.

Fabulously Broke in the City

"Just a girl trying to find a balance between being a Shopaholic and a Saver."

Canadian Saver said...

I wish I'd been that smart with my money at 14!! Actually I was pretty good with my money until I turned 23-24... then I had a big big case of wanting to keep up with the Joneses... that's when I got all my debt.

T.W. said...

Wow, what a motivated young lady.

I wish I had the foresight, or someone to teach me about money, at that age.

If I ever have children, I hope to teach them lessons like these.