A Financial Management Guide For Canadian Teens
“My daughter is planning to move out to go to university but her expectations of what she can afford is not realistic. It’s All About The Elizabeths showed her the light and now she realizes how much she really needs to save.”– Ellen T. – mother of high school student.
“It’s All About the Elizabeths is a great teaching tool for my students. This should be part of the curriculum in all schools.”—Ann V. – high school teacher
Money is very tight these days. We all need to make it go farther. The better you understand it, the better you master it. So, learning money management in your teens can make the difference between earning interest and paying interest.
With all the credit cards being marketed to teens and young adults these days and growing personal debts, no book could be timelier.“It’s All About The Elizabeth’s” is a new book focusing on teaching today’s youth the basics of successful financial management. There are numerous exercises and easy to understand examples that reinforce the benefits of responsible fiscal planning and the consequences of irresponsible pending.
The first chapter will have the most eye-opening impact. It deals with the difference between what you will get paid in salary. What you will take home on your pay cheque. What a difference taxes make. And, because the book is Canada-specific, it shows how each province and territory differs.
Protecting yourself against fraud and identity theft is a challenge for the most experienced money manager. There are numerous examples of the most common schemes that can potential ruin your financial record. And because youth are the most vulnerable targets, this section is a must-read.
The credit cards section details how the system works and how to avoid getting trapped into high interest and high debt. It also explains in easy-to-understand language what a credit score is, how your spending habits affect it and what it means to your future financial security.
While there are revealing chapters on investments, banking account options and consumer rights, a favourite topic is the one on budgeting. It is probably one of the most challenging things to do in life for people of all ages (and one chore that most people foolishly avoid). This book explains why it is essential to do it right (and often) and gives you a head start with a budget plan that is easy to complete. It also illustrates “needs” vs. “wants” and helps you understand why it is important to know the difference. Most helpful in this chapter are the realistic examples of current cost-of-living expenses such as housing, transit costs, car insurance, etc. Any reader who reads this chapter will have a stronger sense of reality in today’s costly world.
This book is a much needed addition to any teen’s reading list. It is an excellent teaching tool for both teachers and parents. It is easy to follow and highly educational, even for those of us who have been out of school for a while.
For 1/10th of the cost of a course and in ¼ the time, this valuable information can be yours.
Also available on Amazon and Kobo.