Comments for Redwood Capital http://www.redwoodcapital.ca Fri, 12 Nov 2010 20:48:16 +0000 hourly 1 http://wordpress.org/?v=3.0.1 Comment on Understanding Your Statement by Jason http://www.redwoodcapital.ca/understanding-your-statement/#comment-64 Jason Fri, 12 Nov 2010 20:48:16 +0000 http://www.redwoodcapital.ca/?p=204#comment-64 A great feature that I'm very happy to see. When are graphs and charts coming? ;) A great feature that I’m very happy to see. When are graphs and charts coming? ;)

]]> Comment on Are Home Prices too High? by Buying a New (or Used) Car | Redwood Capital http://www.redwoodcapital.ca/are-home-prices-too-high/#comment-52 Buying a New (or Used) Car | Redwood Capital Tue, 19 Oct 2010 19:24:17 +0000 http://www.redwoodcapital.ca/?p=185#comment-52 [...] Skip to content HomeAbout UsOur ProcessOur ServicesCareersContact ← Are Home Prices too High? [...] [...] Skip to content HomeAbout UsOur ProcessOur ServicesCareersContact ← Are Home Prices too High? [...]

]]> Comment on Saving vs. Investing by federal grants http://www.redwoodcapital.ca/saving-vs-investing/#comment-5 federal grants Sat, 21 Aug 2010 02:09:54 +0000 http://www.redwoodcapital.ca/blog/?p=43#comment-5 Keep up the good work, I like your writing. Keep up the good work, I like your writing.

]]> Comment on Teaching Children About Money by redwood http://www.redwoodcapital.ca/teaching-children-about-money/#comment-4 redwood Fri, 13 Aug 2010 14:36:04 +0000 http://www.redwoodcapital.ca/blog/?p=80#comment-4 Thanks for the reply Sharon, have a look at this walletpop.com article, http://www.walletpop.com/blog/2010/08/12/money-talk-night-teach-your-kids-financial-responsibility-on-se/ It discusses financial literacy from both the parents and childrens perspective. Also check out www.moneytalknight.com for more information about educating children. Thanks for the reply Sharon, have a look at this walletpop.com article,

http://www.walletpop.com/blog/2010/08/12/money-talk-night-teach-your-kids-financial-responsibility-on-se/

It discusses financial literacy from both the parents and childrens perspective. Also check out http://www.moneytalknight.com for more information about educating children.

]]> Comment on Teaching Children About Money by Sharon Dell'Angelo http://www.redwoodcapital.ca/teaching-children-about-money/#comment-2 Sharon Dell'Angelo Tue, 10 Aug 2010 16:32:08 +0000 http://www.redwoodcapital.ca/blog/?p=80#comment-2 I’d love to put my two cents in on this issue, as I see so many people living above their means and not curbing their bad spending habits…a young woman I work with was complaining a couple of years ago about the fact that she has $10,000 owing on her VISA…I asked her what she’d bought, and she didn’t really know. She’s no better off today. When we won the lottery at work, we each received over $20,000. There were twelve of us in on it, and a couple of people just blew it… My advice – Teach by example. When times were tough I didn’t spend money on anything I didn’t need – big or small. Stress the fact that they can only spend their money once, so spend it wisely. One of my kids decided, after paying for a cell phone while working part time that it just wasn’t worth his hard earned cash. The other three think it is worth it. Don’t buy on credit – if they use their credit cards, they pay them off monthly. I’ve told them the only things they should ever be in debt for would be a home or car. If they have to save for something, by the time they have the money, they may not want it. But then they have the means to buy something else. Buy quality – when buying anything. Make them have a financial investment when it seems appropriate – although we paid for school, they bought their own books. Once they start working (part time), let them start buying some of their own clothes. Don’t buy them gifts impulsively, so they don’t expect them. Children (and adults) develop a sense of entitlement. I would rarely buy them a gift unless it was Christmas or birthdays – then I would really spoil them. When my children were young, when we were going grocery shopping I would give them a loonie to buy gum or a chocolate bar. My oldest would save his loonie, but would buy a piece of gum from one of his siblings. He’s always been frugal (and smart), but when he bought his first car, he paid cash. My kids think I’m cheap (and I wouldn’t disagree), but they respect that fact that we live in a nice home, paid off the mortgage in 12 ½ years, and can see the finish line in paying for their university/college tuitions. Although they can and do waste their money sometimes, I think the seeds are sown. When I read this over, I see it may be directed more to parents than children… Sharon Dell'Angelo I’d love to put my two cents in on this issue, as I see so many people living above their means and not curbing their bad spending habits…a young woman I work with was complaining a couple of years ago about the fact that she has $10,000 owing on her VISA…I asked her what she’d bought, and she didn’t really know. She’s no better off today. When we won the lottery at work, we each received over $20,000. There were twelve of us in on it, and a couple of people just blew it…

My advice –

Teach by example. When times were tough I didn’t spend money on anything I didn’t need – big or small.

Stress the fact that they can only spend their money once, so spend it wisely. One of my kids decided, after paying for a cell phone while working part time that it just wasn’t worth his hard earned cash. The other three think it is worth it.

Don’t buy on credit – if they use their credit cards, they pay them off monthly. I’ve told them the only things they should ever be in debt for would be a home or car.

If they have to save for something, by the time they have the money, they may not want it. But then they have the means to buy something else.

Buy quality – when buying anything.

Make them have a financial investment when it seems appropriate – although we paid for school, they bought their own books.

Once they start working (part time), let them start buying some of their own clothes.

Don’t buy them gifts impulsively, so they don’t expect them. Children (and adults) develop a sense of entitlement. I would rarely buy them a gift unless it was Christmas or birthdays – then I would really spoil them.

When my children were young, when we were going grocery shopping I would give them a loonie to buy gum or a chocolate bar. My oldest would save his loonie, but would buy a piece of gum from one of his siblings. He’s always been frugal (and smart), but when he bought his first car, he paid cash.

My kids think I’m cheap (and I wouldn’t disagree), but they respect that fact that we live in a nice home, paid off the mortgage in 12 ½ years, and can see the finish line in paying for their university/college tuitions. Although they can and do waste their money sometimes, I think the seeds are sown.

When I read this over, I see it may be directed more to parents than children…

Sharon Dell’Angelo

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