When you were a kid, you probably dreamed of the day you’d be big and would be able to do anything you want. Now that you’re all grown up, though, you find that adulting is tough. Really tough. It’s especially difficult to figure out how to make money and then how to make your money last. If only your parents had told you how! Here are some finance lessons your parents should have taught you but expect you to know anyway.
Saving is the most important money strategy
There are no shortcuts to riches
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Financial slavery starts with being in debt
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Live below your means
Not all debt is bad
Earned money is the best money
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Having stuff doesn’t make you rich
Compound interest is one of the most important financial concepts
It’s important to check your credit score regularly
Financial failure isn’t necessarily bad
Be careful about lending money to friends and family
It’s never too early to start saving for retirement
An RRSP can help you save on taxes
You need to know your net worth
Education alone isn’t enough
Creative thinking can do wonders for your finances
Investing in the stock market isn’t only for rich people
There is value in donating to charity
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