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Setting allowances for children: A guide by age groups
Allowances play a crucial role in teaching children about financial responsibility, budgeting, and saving. Determining the right amount of money you should give your child is a challenge for many parents. In this post, we will explore various factors to consider when setting allowances and provide guidance on appropriate amounts for different age groups. Pre-Schoolers…
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How to read a bank statement
A bank statement shows the details of activity in a bank account over a set period of time. This is typically one month. Bank statements are generally issued as electronic account statements (aka ‘e-statements’). Alternatively, sent in the mail as paper documents. It is important to know how to read a bank statement correctly to…
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How to converse with your teen about finances
We know so many of us wished that school had provided us with the knowledge to be better prepared as adults in maybe a lot of ways, one of which was when it came to dealing with finances. Financial literacy is extremely important to set yourself up for success. If you are thinking of having…
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Why is it important for teens to learn about financial literacy?
At a certain age, we become less interested in spending time with our families and want to spend more time with our friends. Now we are not saying any of that is bad – we’ve all gone through this phase. But, teen years are not only extremely formative but important in shaping and influencing who…
