Lessons Learnt as a Business Owner
There are so many lessons that I learn as a business owner.Daily, I am challenged to learn and constantly apply myself in different areas. It’s been a crazy second quarter of the year as we took part in the City of Canning’s business program, networking with other business owners and being facilitated in all areas of business. The time commitment was intensive, but the sessions...Read MoreBuild Financial Resilience as a Young Adult
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 MoreTeaching Teenagers How To Trade – Part 1
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#adulting: The Art of Earning Money as a Teenager
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 For...Read More3 Key Money Lessons To Teach Your Child
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 MoreMoney Lessons for Children with Paid Housework
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
#financialempowerment: Learning Style for Finances
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
#financialempowerment: Risk Tolerance in Finances
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
#financialempowerment: Gratification in Finances
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
