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Address 150 Bloor Street West Suite 501 Toronto ON, M5S 2X9
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Greenwood White Group

September 06, 2023

Money Education Financial literacy Lifestyle
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Back to School

 

Many of us have kids, grandkids, nieces, and nephews who are returning to school this month, so we thought it timely to provide some tips about how to prepare our kids to manage their own finances. 

This can be a struggle for some, owing to taboos about talking about money and a broader concern that learning about their family’s financial status will encourage children to take money for granted.  However, the more you empower your children with the values, skills and knowledge to handle money on their own, the higher the probability is that they will become financially successful in their own right.

Our partners at CIBC U.S. Private Wealth put together an excellent 4-part series on how to talk to your kids about money.  While written for a U.S. audience, most of the lessons, books and apps they provide are applicable to Canadians as well. 

We share their view that “age appropriate transparency,” a positive learning environment and opportunities to put principles into action are the building blocks of a healthy relationship with wealth.  

 

We’d encourage you to learn more, and read on further at the links below:

  • General Principles in Discussing Wealth with the Next Generation
  • How to Engage Children Under the Age of 12
  • Financial Strategies for Teens and Pre-Teens
  • Young Adults and Financial Fluency

 

 

CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc.

The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license. “Wood Gundy” is a registered trademark of CIBC World Markets Inc.

 

This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell, or hold the securities referred to above. © CIBC World Markets Inc. 2023.

 

GWG is an Investment Advisor with CIBC Wood Gundy in Toronto. The views of the GWG do not necessarily reflect those of CIBC World Markets Inc.

 

Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.

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CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.