It’s Financial Literacy Week so I began thinking about how I learned about money. I can think of a couple things I learned from my Mom:

• Keep track of the hours you work – especially if you are paid hourly (it is easy to have a conversation about a discrepancy with your pay check if you have the dates and hours recorded).
• Never pay interest to a credit card company – pay the balance in full each month.
• Never owe a friend money.
• If you choose to lend money to a friend, lend it without the expectation of repayment – otherwise have a written agreement.
• If you don’t have the money for something you want, you can’t buy it yet. Save for it.
• Always have a some money for emergencies.
• Keep your own bank account and your own credit card.

I also clearly remember sitting at a round table with a couple classmates learning the value different coin denominations and how to make change – A Grade 2 teacher took the opportunity to give us a challenge and teach us a very valuable life lesson. Much better than more Grade 2 math!

All fundamentals of sound money management and basic budgeting.

Thanks Mom!