Friday, October 14, 2022
HomeWealth ManagementWhy talk is cheap when it comes to teaching good money habits

Why talk is cheap when it comes to teaching good money habits


Overall, the data shows that financial knowledge (or lack thereof) and accompanying worries can be passed down within families.

Read more: Industry reaffirms collective commitment to financial literacy

“Money carries a lot of stress for Canadians – women and people of colour particularly – and from the survey, we’re seeing that stressors can be passed down through the generations; sometimes unintentionally,” Sammer Haq, Head of Data and Analytics at Mydoh, and Founder and Executive Director at BridgeTO Youth, said.

Most Canadians feel shame, regret, and self-doubt about their own money management abilities, despite the country’s ranking among the top 10 in the world for youth financial literacy.

In addition, 62% of parents surveyed said their financial situation or decisions had a negative impact on their mental health, with this feeling being disproportionately more prevalent among women (65%).

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments