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‘ .1 *$ t . s ' . ‘ > ‘ l H - WATERIAX) (1H RONICLE - Wednesday. My 3. son Financial service professionals start series educating kids about money Erbium = ; 'va;;:_ mat startmg' at theWaterioo Public (hwy; "Z; Libraryonlulyt at6pm. The 90- :33 . minute session for kids aged 12 to Imam thathighllghts ”g - a, _. j is will help them identify the dif- I why Sean long and Douglas ‘ tr § '9 It i g ‘ ferenoe between needsand wants. Pinnell of Waterloo's Mumby T1; 5,] ”if? ’> 'You may want a new iPhone lnsunnoeBrokersthoughtitwas , tfi' - rat‘tce htnwhatymirrmllyneedsisacell- important to host a series talking fl. ,, . . ‘ a phone." said Long. “That‘s a big to kids about money at local pub- s; dilference' lic Ilbnriesthrough the summer. ‘4’? i . It will also include topics like long said he was in line at his ‘5; ‘ v credit/charge cards and how they local Tim Hortons the other day , ‘ . '1 :7 i: are part of the Evil Empire. They when he saw a teen with I "Tim- 5;. . ii; ’ will also talk about banks and sav- mies" card looking to pay. The _. . ~ .. ing. and how interest rates gobble ‘ cashier told him he only had 60 if ..‘ " up your money. cents on the card, and he did a, They will encourage kids to live something that totally dumbâ€" " '~ ‘6‘ below their means to pay for stuff founded the veteran financial i 5 like post-secondary education and phoner -” he threw the card away , . _: g. .-‘ in ; travel theywant to do in the future. and got out another card. ' " Fl 7-; .._ E ‘7 ’ They'll discuss how to buy thrifty ‘I got it out of the garbage and v 51. .f a, ‘ ' Egg and the importance of budgets. said. 'Ercuse me, here you can use , , t: ‘5 a; .4 3' They'll wrap up with good debt that." said Long ”He told me there " .725"? 3“ ' ’3 versus bad debt. While the sessions ‘ was only 60 cents on that. I said ~ .135: ‘1" ‘ a" are geared for kids. they hope that . take that, usethat and then use the ‘1; r ,' some of the parents might also ‘ $5 and. «gs-9'. r 41 . stick around. "He said 'Wow you can do that?’ “a!” ‘ 'How much money do our kids He said he and his friends just ' 3“” throw away?” said Long, getting threw away the cards if they didn't Douglas Pinnell and Sean Long of Wat-docs Munby Mame Broken will be holding a series on educating kids back to the Tim Hortons card story have enough money on it." abOUt "‘0'”! starting July 4 at the WW Wk WON "lt’s like taking a five-dollar hill and “Can you imagine the amount ”W "0'“ setting fire to it. because that's just of money wasted.” said Pinnell. Money appreciation is being it's a common complaint they or you're being charged interest on what you're doing. viceApresident at Mumby lnsur- lost on the next generation ofklds. hear from their clients who tell your overdraft, really isn't there. “They don't know about that ance Brokers Inc. "Their parents said Long. They will eventually them their kids don't know how to “The amount ofconsumer pro» and we need to teach our lels just give them another full mrd but grow up to be adults who won't save and want their own credit posal ads you see and hear these what to do with money" never ask the kids what happened realize that easy credit has a cost cards They treat their parents like days is unbelievable." said Pinnell. The other sessions WI" he at the . to the other one. or tell the kids The ramifications are already ATMs and don't understand when ”And that's just with the adults, and Waterloo Public Library Mall! ‘ howtouaethem. being seen with the record house- they say “no." those adults are twching their kids Branch July 18. noon, luly 24. h ”mars money that‘s just sitting holddebt ofmostCanadians 'When the parents say 'no I about money. pm. Aug 6. noon, and Aug 22 at h thereandrom'ng” Children are growing up with can't aflord it,‘ the kids don't really "We can't do a lot with some of pm. They will also be holding at That's the essential conversa- little on no sense of money man- understand why because the par- these adults but maybe we can do the Kitchener Public library lulf'i tionthnhr’theinghad withalot agenientyetwhentheyleavehigh ents are their personal ATM somethingwiththekids.‘ at noon. oftothy'a kirk said long and Pin- school they’llheswarnped bycred- machines.‘ said Long "Kids know 'The parents blame the kids They've already had some inter nell. m don't know the value of it card companies looking to pro- nothing about money. and where saying this generation just wants est from colleagues and other money, and how much it takes to vide moneytheymght not beable doyouexpectthem to learn it.” everything. but you have to ask clients and hope to address some eamlt. to handle and student loans that That's because the modeling yourself who is teaching them of the unreal expectations their PlundeaidthatfiOoentsisreal» willeventudlyhavetoberepald. theyoftengetathomeisthatevery that.'saidlong kids have about money today ly more like a dollar when you flg- ”It's a subject they're not taught need will be fulfilled. Simply get 'Who is giving it to them." They're own kids and nieces and ure out the government taxes it school.‘ said Long. a Golden out the credit card or the debit That's why they decided to nephewswillalsobeinvited every employment dollar. and Goose specialist at Mumby. 'You cardandbuyit. crime up with a fun money course For more information go in there are a lot ofadditional favors have to identify what you need The essence of what an item called Money for Kids that they'll www.mumhycom or call ”All but” that go into making a buck. versus what you want." really costs if you carry it on credit. be presenting in a workshop for 5956. v V .1 . v ' 1‘ ‘fix‘x‘v‘l‘j‘fimq ‘ o N I E N ow I i ‘ H ‘ _ "3:? . : . ,‘E’. is: ‘ . _ 1.5-} 33., _. . ‘s. 10>,‘L' . z "A, 7’ .3 . ,' . _ 'w ‘ . 20 1 3 fl .5 .;‘- .,. ,5.” is»! in, ' 13. W ~"-: ~ 5': .4 l ‘ . ~ ' ‘ j .1 L . ' t I; 2013 2013" i . i ' If! .