What They Didn't Teach Us In School About Money
  
Here’s some common sense about money that kids should hear from their parents.
Don’t confuse net worth with self-worth. It’s only natural to want expensive things. But it’s more important to feel good about yourself, regardless of how much money or stuff you have. People respect you for the person you are, not your flashy lifestyle.
Make the best of the hand you’re dealt. Some rich, successful people claim they earned it. In reality, our destiny is shaped by luck, parenting, health, access to education, and economic factors. Keep this in mind before judging others—or yourself.
Learn from scarcity. Feeling poor at some point in your life helps teach you the value of money. You quickly learn the difference between needs and wants, how to shop for bargains, how to fix what’s broken, and how to handle life’s ups and downs.
Make your goals about more than money. You may think once you’ve saved a million dollars, everything will be great. But then you only want more! Instead of focusing on money, make your goals about fulfillment for you and your loved ones.
Don’t be afraid to change plans. Just because you decided on a career when you were 18 doesn’t mean it has to be a lifetime sentence. Try a few things, stay flexible. If your first career doesn’t fit, move onto something more inspiring.
Owning Versus Renting
It's all about timing
There are many pros and cons to both owning a home and renting a home and this is especially a pressing issue in the case of Vancourites with rising housing (and living) costs.
Not that's it's ever a bad idea to buy, but if buying causes you to be strapped for cash and puts you in jeopardy of walking a very fine line every month with regards to paying basic bills, then it might not be the right time.
The most important thing is to sit down with your advisor and look at the overall picture - see how much you have, how much you can save, and how much you can afford to put aside for not only a downpayment, but also the monthly mortgage, property tax and possibly strata fees that come with being a home owner. When you have a written financial plan created with specific goals in mind, you'll find that you achieve them not only much quicker, but also with less stress.
Don't Give Money Direct To Developer for Pre-Sales
Here is an interesting story of a development going bad in Edmonton and how it was saved. You can view what happened with the link below.
The moral of the story is do not give your deposits direct to a developer. Give it to a lawyer to be held in trust.
http://edmontonjournal.com/news/politics/david-staples-generous-developer-comes-to-the-aid-of-screwed-condo-buyers
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