Here’s a valuable piece I came across on Forbes.com on the subject of Aging Parents in fragile health and the decisions that have to be made for the best outcome.. I wanted to share it as a resource for anyone who may be in this situation with their own parents.
Image by Steve Buissinne from Pixabay
If you have a son or daughter, perhaps a niece or nephew heading off to university this month, here’s a great article to share with them from Practical Money Skills.
Making the transition from living at home where someone else buys groceries and pays essential bills to living on your own is a big step. How much can you afford to spend on groceries in a week? Are you going to need to work extra hours to pay for all of your books?
Create a Budget
This first step in financial planning will help you answer these questions and is absolutely essential in managing your personal finances. Read more
Here’s an important article I wanted to share from CBC News. It addresses some of the scenarios widows and widowers could face if they continue to be reliant on CPP after the death of a spouse.
By, Carla Hindman, Director of Financial Education, Visa Canada
When you’re a kid, a few dollars can seem like all the money in the world. It can take weeks, sometimes months, to save up your allowance. When you finally decide to spend it, you might realize that $10 or $20 isn’t as much as it seems.
As a parent, you can help your children build important money management skills by providing experiences for them at a young age. Leading by example is a good way to start, and it can help instill good values and money habits. However, you’ll also want your children to get their hands dirty. Read more