Financial Goals
It is important that adults and teens set financial goals for the future. For you without a job, it will be saving enough money from part time jobs (mowing lawn, shovelling snow, walking neighbour dogs) or your allowance.
If you have not received an allowance from your parents yet, it is time to ask. Tell them Kwok says that you are old enough to develop some financial responsibility, and the best way to start is to have an allowance. Mini Kwok receives $5 per week.
It does not mean you have to spend every penny from the allowance. The rule of thumb for my son is to “Spend half, Save half”. Parents should not interfere on how you spend your allowance since it is your money. For example, Mini Kwok spends some of his allowance on Robux, and save the rest.
“Spend half, Save half”. Don’t buy junk food after school on your way home. It is a waste of money. You will have snack to eat when you get home.
What are your financial goals? The most important one will be the university or college tuition fee that is needed in four years.
Try to find the following information from the York University website: (4 years to get a degree)
https://futurestudents.yorku.ca/tuition
York University | Domestic students (Can. Citizens or landed immigrants) | International Students | |
Tuition for the program of your choice | |||
Textbooks and supplies (get the average) | |||
Residence, 8 months | |||
Meal Plans (get the average) | |||
Or if you choose to live off campus | |||
Personal expenses (average for on campus and off campus) | |||
Health and dental care | |||
Total (each year) |
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