Be a Money Mentor

The importance of teaching children about money management

When kids learn about responsible money management at a young age, the lessons will pay dividends throughout their lifetime. Be a Money Mentor and help your child:

Be independent and self sufficient
Make informed decisions and choices
Use good judgement and look at consumption in a realistic way
Acquire the skills and knowledge to be financially secure

Children should not be made to feel that they have to worry about the household bills or that they are a drain on the family's resources. The purpose of Make it Count is to provide your child with a positive and realistic attitude toward money.

Set a good example

You are a role model and your child begins taking cues from you at a very early age. That is why it is important to assess your own financial habits and spending behaviour to make sure you are setting a good example.

Helping children understand how to live within their means and plan for their dreams can make it much easier to cope with life's pressures.

It's not about seeing a difference overnight. It takes time to build habits for life, but it's worth it. Spending your hard-earned money should not happen without thought or care. Take the time to put a plan in place for yourself.

Assess your money situation - Track your spending for one typical month
Develop a budget - Determine your after-tax income, calculate your expenses, assess your long and short-term needs, decide on expenses that can or should be trimmed
Set goals - Establish some short-term and long-term savings goals
Make a plan - Make sure you have a way of reaching your goals that will work with your financial situation
Take action - Put your plan into effect and start on your path to financial security
Be a Money Mentor - Get your child involved in money management and Make it Count!