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Despite different economic stabilities within Canada regions, Cheung said youth overall across the nation are pretty much consistent in Fendi Bag David Jones

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seem to think that credit card abuse among their age group is someone else problem, Cheung said.

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´╗┐Parents are biggest factor in money know

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parents clearly want the best for their kids and they tried hard to teach their teenagers about money but there is definitely room for improvement, Cheung.

frightening considering the double interest rates on many of these cards and the fact that many of these kids don have a lot of income to play around with, said Cheung.

this really says to parents is that youth confidence and responsible credit card use really may not be that justified and parents should definitely keep track of how their teenagers use their credit cards. warned that while interest rates now are relatively low, they will go up and families need to get debt under control sooner rather than later.

them shape their own money management goals.

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A recent survey conducted by Harris Decima for CICA shows 82 per cent of teens and young adults are aware of their parent financial situation and 79 per cent think that has helped Bag Fendi Sale

According to the survey, eight in 10 teenagers found that impulse spending is a big problem for their peers, but were very confident in their own ability to manage a credit card responsibly.

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By Stephanie Froese

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terms of financial knowledge.

who learn good financial values in their child hood are more like to avoid Fendi Karlito Iphone 6 Case Price

A report released earlier this year showed, though parents believed it was important to teach their kids financial responsibility, two thirds of parents believe they had not done good job.

Saskatchewan Youth are learning from their parents but have some room to grow in financial savvy, according to Nicholas Cheung, director of Member Services for the Canadian Institute of Chartered Accountants (CICA).

paNOW Staff

impulse spending, bad debt, and Omega Seamaster Deville Black manage their money more responsibly, Cheung said.

we really found out in this survey is that, number one, Canadian youth are really eager to learn about money management skills at home and they really expect their parents to be good financial role models, Cheung said.

Cheung said the top three financial skills taught by Saskatchewan parents are limiting spending, saving for a major purchase and using credit cards responsibly.

Cheung said one of the keys to teaching youth about financial management is to start when they are younger rather than waiting until the child is in their teens. He said the most successful parents talk to their teens about the family financial situation.

About half of the youth surveyed carried credit cards. For Cheung the worrying part was that one fifth of them had a balance on the card.

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