Holistic health and wellness is a hot topic these days as we have come to understand that lifestyle choices, nutrition, stress levels and exercise all contribute to our state of well-being. Did you know that your financial health is also part of your holistic health picture? Financial wellness is a measure of your knowledge and ability around managing money. Low financial wellness can cause stress and have a negative effect on your physical, mental and emotional health. According to a 2015 study conducted by Environics Research Group, about 45% of Canadians surveyed had a low level of financial wellness. What this essentially means is that they don't feel well prepared for emergencies, the unexpected or the future. People with a low level of financial wellness worry about covering bills, and feel stressed about paying for their children's educations, their retirement years and replacing lost income, should they or their spouse...
Top 3 reasons you need to do some estate planning Even if you don't think you have an estate, think again. An estate is simply the totality of an individual's ownership of money, real estate and personal property. These are just a few of the reasons that people are confused and are asking, "Do I need to do estate planning"? In essence, an estate plan establishes your wishes for the transfer of your money and property and the care of your children in the event of your death. As discussed in our blog post 4 Tips for Making Estate Planning Easier, an estate plan provides legal clarity. A well-rounded estate plan includes a will, named executor, power of attorney, a full list of assets and accounts and other financial details. Here are the top 3 reasons you need one. 1. Avoid unnecessary expenses and hassles Though there are no inheritance...
A common scenario. Two teachers meet, fall in love, marry and start a family. Part of the bond between them is they have summers off. Also, they understand one another, including their financial situation with regards to things like income, savings, retirement planning and benefits. It's all good, right? Well, no, not necessarily. If you both have a blind spot with regards to your financial situation, it will be compounded. For example, many educators don't pay as much attention to their savings, retirement planning and insurance coverage as they should because they mistakenly believe their pension and benefits package will cover everything. On top of all the other insurance you have, such as life insurance, it is also important to consider public liability insurance. If you need public liability insurance why not visit constructaquote.com? Here are the five W's of insurance, and what educators need to know about life insurance....
As an Educator or parent, you are in a position to help kids learn Financial Literacy from an early age. Knowing how to manage money is a key skill that everyone needs as they grow up. Following are some key concepts about money, including the concept of money itself. Money What is money? What does it mean to buy something? The two most essential money skills are simply identifying money and knowing how to make change. But it's also helpful if kids understand the concept of money and where it came from. Money has probably been around as a medium of exchange for 3,000 years. Shells, beads, salt and cereal grains have all been used as money. The first coins were made by the Chinese in about 1,000 B.C. and the first official coins were minted in Lydia (now western Turkey) in 600 B.C. Before that, and also alongside it,...
