Last post discussed the use of the Canada Education Savings Grant to boost your savings for your child’s education. What if your children are already in school – what advice can you give them to help avoid or reduce student debt?
First you want to teach basic budgeting skills, if you haven’t already. For great online lessons and worksheets, visit The City, a joint project between the British Columbia Securities Commission and the Financial Consumer Agency of Canada. The City teaches financial life skills to teenagers and young adults, either in class or through independent learning.
To teach similar skills to younger children, check out Make it Count: A Parent’s Guide to Youth Money Management, from the Canadian Securities Administrators.
Want more tips for helping students reduce or avoid debt? Read Finish College Without Student Loan Debt
at the Canadian Finance Blog.
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