Talking about money
A new national survey reveals that 25% of adults rank their current financial situation as their main source of stress and that this stress is inadvertently impacting their children. To help kids understand finances and potentially challenging times:
1) Go slowly and encourage open conversations.
2) Create a welcoming space where children can ask money questions.
3) Discuss cost differences between buying one toy or two and the evils of overspending.
4) Talk about saving part of the money they’re given.
5) Encourage budgeting and financial tools, beginning with piggy banks and gradually transitioning to digital.
6) In good times and bad, involve kids in family discussions on spending and saving.
7) Set goals together and emphasize that achieving them often requires making sacrifices.
Sources: FP Canada
Furry friends and growing minds
Pets have long been cherished companions, but their value goes beyond mere companionship. Research suggests that owning a pet can enhance physical activity through play and foster empathy, responsibility, and social skills. In fact, the bond a child forms with a pet can provide a sense of security, unconditional love and a boost to self-esteem. Moreover, caring for a pet fosters a routine, teaches kids about commitment and compassion and instills a sense of responsibility as they contribute to their care.
8 tips for starting the school year
1. Scour your home for school supplies.
2. Buy in bulk and split the cost with friends.
3. Check out the dollar store or buy second hand.
4. Spread purchases throughout the year.
5. Shop around and compare prices or use price matching.
6. Take advantage of student discounts
7. Plan low-cost lunches.
Reducing eco-anxiety
In bustling cities where concrete towers scrape the sky, youngsters often feel the pressing weight of environmental distress. Coined ‘eco-anxiety’, it presents as feelings of fear, hopelessness, and distress which are often accompanied by the burden of guilt. Climate psychologists recommend that rather than scare children, parents and caregivers should support them with hopeful ‘climate change conversations’ that end with the family making energy and waste saving changes together.
Sources: Canadian Mental Health Association
Are children in your future?
A Canadian Social has suggested that post-COVID, almost 25% of young adults changed their minds about having children. Overall, those over 25 showed higher levels of optimism regarding the likelihood of having children in the next few years. Younger adults raised concerns about financial capacity, housing, and work-life balance when considering starting a family. The general consensus: Canadians are planning on having fewer children or are prepared to delay things.
Source: StatsCan
Did you know?
In Canada, approximately 35% of young adults aged 20 to 34 live with at least one parent, according to the 2021 census. Many of these young adults are “boomerang kids,” who have returned to their family home after residing elsewhere.
Source: culturalatlas.sbs.com.au
