The Canadian Foundation for Economic Education (CFEE) has a free book for young people—ages 14–18—that helps them learn about money, making decisions, credit cards, moving out, and more.There is also a web site that goes along with the book. You can get a free copy of Money and Youth by calling 1-888-570-7610.You can visit the web site at www.moneyandyouth.cfee.org/en
There are many organizations in Canada that regulate and oversee investment companies and advisers. These organizations protect investors. See DayPlanner website – Links #135 and #140 for more information on investing and advisers.
When you buy a car, you can often arrange financing.That means getting a loan to pay for the car. Car loans often have to be paid back within five years. Look for financing deals when you are buying a car. Dealers will sometimes offer lower borrowing costs to get your business.The business of buying and selling cars is very competitive—and there are many sellers. Compare prices offered by several sellers before you decide where to buy.
The Canadian Foundation for Economic Education (CFEE) has a web site to help with saving—and especially saving for education.The web site has tips for saving and information on government programs that can help with education savings.Visit www.buildingfuturesnetwork.com
When you sell your home, you have three options: • to sell through a real estate agent, who will usually charge from 3% to 6% of the sale price, • to sell through a company that charges a flat fee to help you advertise and list your home, or • to sell on your own privately. You can investigate all these options by talking to the companies and agencies and searching the web.And be sure to get advice from a lawyer when you sell your home. Learn more
Some people prefer to manage their own investments without the help or cost of a professional.You can set up your own investment account at a discount brokerage, or with a financial institution.There are still costs associated with buying and selling these investments but the costs are often less than what it costs to use an adviser. But, in this case, you will not be given any advice on which investments to buy and sell—or when to buy and sell. See page 236 for a list of some of these. Learn more
The value of a car depreciates (goes down) as it gets older and the rate of depreciation is fastest in the first two years of ownership.That is why some people buy used cars rather than new cars. Most car dealers also sell used cars. Used cars are also advertised in newspapers and special magazines. If you buy a used car, see if a “warranty” of any kind applies or is available.
The Canadian Foundation for Economic Education (CFEE) has a web site that answers questions about “MONEY” and “WORK”. It also provides you with other sources of help.To learn more, visit www.virtualadviser.ca
Most people borrow money to buy a home.A loan used to buy a home is called a mortgage.You can get a mortgage through a financial institution.The amount of money you borrow for a mortgage is the “principle.” The amount you can borrow for a mortgage can be limited to a certain percentage of the price you pay. Visit DayPlanner web site – Link #128 to learn more about mortgage savings, preparing an offer, and closing a deal on a home.
Do you have savings that you would like to invest? Investing can help the value of your savings grow more quickly—especially when interest rates are low.There are many types of investments, including GICs, bonds, stocks, and mutual funds. Investments differ in terms of their possible risk and return—the higher the possible return the higher the risk. For more information, visit the web site of the Canadian Securities Administrators www.csa-acvm.ca. Learn more