Why is financial literacy important for young Canadians?
With the cost of living reaching an all-time high, young Canadians must develop and smartly use financial skills, which means having the ability to manage personal finances, plan, budget, and even invest. Financial literacy should be taught, and early on! It is the key to building a healthy and fruitful relationship with money.
What’s something you wish you told your younger self when it comes to money management?
The movie business has always thrived, but the pandemic served as an unprecedented life lesson. I would tell my younger self “Plan for rainy days” no matter what.
Why is it important for Canadians to invest in their wealth?
Simply saving money may help in case of emergency spending. This has its obvious merit, but it is limited. Smart investing is the way to put Canadians’ money to work, outpace inflation and potentially build their wealth. It’s a question of Security and Peace of mind.
What are your top money management tips for new businesses?
Make sure you have the money before investing. Be organized and focused. Keep a record of everything. Patience and tenacity are key. Surround yourself with talent (you can’t be good at everything!) Invest in the people you hire. And know this: You will work harder for yourself than you would for anyone else. That means you will sacrifice a lot in order to start and develop your business. Make sure you’re ready to take that on.
