Chances are we all have more than one bank account. As the world switches increasingly to being cashless, bank accounts become more important. They are now the new substitute to our traditional wallets.
Depending on your preference, you may have one or many accounts. Choosing suitable accounts is similar to buying wallets that meets your needs. It is important to know what you want and need....Read More
Learning how to trade is increasingly popular as a way of making money. If you have not read our article on the overview of investments and trading, you might wish to look at that first to get the context of today’s discussion.
Today, we are going to look at the benefits and risks of investing versus trading.
At the core of trading/ investing, people earn through this term called...Read More
Building financial resilience is becoming increasingly important. 2020 is turning out to be a year that none of us had expected. There is a lot of uncertainty around when all these will end and go back to ‘normal’. It has also been challenging for individuals to figure out a new way of living. Studies have shown how COVID-19 has impacted our finances.
As spending patterns change, this has...Read More
Many teenagers and young adults are now exploring trading as another way to earn money. It’s thus imperative that they know how to trade and what it is. It was heartbreaking to read the news of Alexander E. Kearns’s suicide! Imagine feeling you had to take your life because of $730,000 in debts. Worst, this was a temporary balance before settlement. Subsequent revelations...Read More
We want more independence as we grow from children into teenagers. Some of us start looking for part-time work as a way to increase income. Straddling between life as a child and as an adult, we then need to learn the different ways to earn money as a teenager. Not learning this in school, this is often an art as we trial and error to figure it out. Here are some ideas:
1) Getting A Job
Teaching kids about money is challenging. We often learn how to teach the value of money by observing our parents, through collective wisdom on social media and having conversations with our children when opportunities arise. This means that children do not get a holistic and complete view about how to manage money. Their learning is limited by what they are exposed to. After talking to...Read More
I recently interviewed two mothers who had contrasting views on the idea of paying their children to do household chores. Both were right in their views – the one who refused to pay wanted her children to learn to help out with housework as a form of contributing to the family without the expectation of being rewarded financially. On the other hand, the other wanted her children to...Read More
The traditional classroom assumes that learners take in new knowledge the same way. Yet research has uncovered that there are numerous learning styles which influences how we retain and process information. This has impacted the way lessons are delivered as we now get exposed to mind-maps, group activities and even writing journals in class! You would have probably found some activities more...Read More
From young, I never really liked the roller coaster nor thrill rides. Due to peer pressure, I found myself on such rides more than once but each time not quite sure why I subjected myself to that kind of trauma! Perhaps you are like me, or perhaps you swing to the other end where you embrace the adrenaline that comes from the unknown/fear factor. Our ability to stomach risk will determine...Read More
I recently had a conversation with a 17 year old who told me that she and her friends knew they needed to save. They even went to the extent of setting up separate bank accounts to isolate money that they try not to touch. However, that didn’t work! They always found themselves dipping into the account to buy stuff.
This experience is not unique. Many of us have been taught to save and...Read More