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.
A Canadian girl working hard for her money and learning to make her money work hard for her.
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3 comments:
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."
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.
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.
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