Our Relationship With Money Our relationship with money can be simple or we can make it complicated. The world tends to complicate things and it is sometimes useful to just step back and think of simpler times and simpler ways of looking at life. If your goal is ‘financial freedom’ then you should really consider […]
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Understanding Opportunity Costs ‘The cost of the next best alternative forgone’ That’s the definition of opportunity cost that I teach my students. But the important addition is to include ‘… when making a decision’. Decisions are everywhere, therefore economics is everywhere. Opportunity cost is the cost of the next best alternative forgone when making a
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Bankruptcy We have all seen examples of financial failures. For some it comes down to unavoidale factors; bad luck, poor timing or a poor economy. The concept of bankruptcy – seeking legal relief for one’s debts, whether personal or in business – dates back at least to the 1500s if not earlier. The term comes
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Your Relationship With Money Is Important We all have different relationships with money. But as Morgan Housel says in his book “The Psychology Of Money”, ‘we’re not all crazy’. We have just had different experiences that have shaped how we feel about money. This also shapes how we treat money and how we see money
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In the realm of personal finance and wealth accumulation, certain principles have stood the test of time. Some of these guiding principles have been passed down through generations, transcending the boundaries of time and culture. Here is where can easily see that wealth wisdom is timeless. But for most people, they have either been lost
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A Student Perspective From Grade 12 Student Arth Tak Imagine what the school curriculum would be like if we let students decide exactly what it is that they were taught. What would you suggest be taught? In my classes, I often get student feedback on the things that they enjoyed and the topics that
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Why Own A Credit Card? Of all of the money-related conversations that I have had with my students, the most misunderstood is probably related to credit cards. Unsurprisingly many students see having and using a credit card as almost a right of passage. They are simply things that adults use – so they must be
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Introduction Interest rates are a fundamental aspect of modern economics that affect our lives in more ways than we might realize. Whether you’re a young person just starting to save, someone interested in investments or planning to retire, understanding them is crucial. In this article, we will delve into how interest rates shape the economy,
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What Is Credit? Will You Need It? Students often ask me about credit, credit cards and credit ratings. As a young person about to embark upon their financial journey, it is quite exciting to consider the fact that banks may provide them with loans to buy the things that they could unlikely afford to buy
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Introduction This post outlines 5 important lessons that you should teach your kids about money. It really is up to you! Who Is This Post For? When I started this blog, I was unsure whether I was writing it for the average person who was struggling with their finances or if it should be written
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