It's a Money Thing™

When you're young, managing your money can be tough! You're balancing everyday expenses while thinking about your financial future. It's a Money Thing™ resources can help you understand your grown-up piggy bank. Common sense and plain English insights are the core that forms ideas for managing your money.

Earning Money Online

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It’s hard to ignore the appeal of making real money online—after all, we live in a world where bloggers land book and movie deals, where top YouTubers are multimillionaires and where celebrities collect thousands of dollars in exchange for a single sponsored tweet.

EKC Its a Money Thing - Earning Money Online Thanks Currency from Jane Davies on Vimeo.

Compound Interest Rule of 72

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The rule of 72 is a shortcut to estimate the number of years required to double your money at a given annual rate of return.
All you have to do is divide 72 by the annual rate of return—that's your interest rate. So if it is 3%, then 72 divided by 3 is 24. OR if the interest rate is 6% then 72 divided by 6 is 12. Therefore it would take 12 years to double.

EKC What is the rule of 72? thanks to Currency Marketing from Jane Davies on Vimeo.

Organizing Your Finances: Keep or Toss?

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Every year, it’s nice to do a bit of “financial spring cleaning” and declutter your filing cabinet, your desk drawers, and the various hiding places where miscellaneous scraps of paper tend to accumulate and multiply.

EKC How Long Should I Hang Onto My Financial Documents? from Jane Davies on Vimeo.

Intro to Insurance

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Depending on the type of insurance you’re looking into, you might find yourself pondering some downright uncomfortable questions.

EKC presents Intro to Insurance... thanks Currency Marketing from Jane Davies on Vimeo.

Understanding Inflation


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Simply put, inflation refers to the rate of change or increase in the average prices of good and services. When the price level rises, every dollar you have buys a smaller percentage of a good or service.

EKC Understanding Inflation from Jane Davies on Vimeo.

 

Predatory Lending


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Before jumping at that fast-cash offer, take a moment to educate yourself about predatory lending. Then breathe, understand that you have alternatives, and make an action plan.

16 EKC Watch Out for Predatory Loans from Jane Davies on Vimeo.

Know Your Chequing Account


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We still keep our money in chequing accounts, we still balance our chequebooks, and new banking technologies (mobile cheque imaging is one example) are being introduced to improve the process of paying by cheque.

15 EKC Know Your Chequing Account from Jane Davies on Vimeo.

Investment Vehicles

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Investing can seem like a very risky, complex and fast-moving process. With endless combinations of investment vehicles to choose from, it can be difficult to take your first step as an investor—especially with the knowledge that all investments carry the risk of losing some or all of your money. So why bother?

14_A_EKC Video Investment Vehicles from Jane Davies on Vimeo.

Loan Basics

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Applying for a loan requires a lot of research—not just on loan specifics, but research on you too! Loans make some of our biggest life decisions possible, so it’s crucial to be realistic about your goals, your financial situation and your future.

13_EKC Loan Basics from Jane Davies on Vimeo.

What's Your Money Persona?

How did you decide where to open your first bank account? Where did you learn to budget or pay bills? If you have a money question now, what do you do? Who do you turn to? If you’re under the age of 30, your answers to the above questions are likely some combination of “my parents”, “the Internet” and “I don’t know—I just kind of figured it out”. Although you might have been lucky enough to take life skills classes in high school, most young adults don’t receive any kind of formal financial education. So, it’s likely that you’ll need to seek guidance when it comes to money management.

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12 EKC Common Money Beliefs What's Your Money Persona? from Jane Davies on Vimeo.

Living on Your Own



Living on your own for the first time can be empowering. It means having independence and all the things that come with it. Some of those things—like not having to share a bathroom—are wonderful. Others—like killing spiders yourself—are not so fun. And leading the pack in the not-so-fun category: bills.

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11 EKC Living On Your Own from Jane Davies on Vimeo.

To Lease or Finance: That is the Question!

When it comes to buying a new car, you have three options: purchasing it with cash, purchasing it through a loan (also known as financing) or leasing it. For most shoppers, the decision comes down to buying or leasing.

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EKC Presents Buying vs Leasing a Vehicle from Jane Davies on Vimeo.

Building an Emergency Fund

Having an emergency fund means having one less thing to worry about when the unexpected happens. If you find yourself in a situation like a medical emergency, an out-of-the-blue home repair or losing a job, you don’t want to be worrying about how you’re going to manage expenses or about going into debt to cover costs. An emergency fund will let you focus on getting your life back to normal.

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09 EKC Be Prepared Because Life Happens from Jane Davies on Vimeo.

Comparing Cards


Well, no payment method is automatically better or worse than any other; it comes down to when and how you use each payment type. Fully understanding each payment type allows you to make smarter decisions, and take advantage of the benefits of each payment type while avoiding any drawbacks.

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08 East Kootenay Community Credt Union & Currency present - Get to know your payment cards from Jane Davies on Vimeo.

Co-operative Principles


Credit unions put their values into practice by following the 7 co-operative principles. This sets credit unions apart from all other financial institutions, strengthens the community and benefits you too!

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07 EKC's Cooperative Principles Video from Jane Davies on Vimeo.

Understanding Compound Interest


In case you haven’t heard, compound interest is the best. You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!

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06 EKC & Currency on Compound Interest from Jane Davies on Vimeo.

Budgeting with Confidence


One of the most common budgeting mistakes is using your gross income instead of your net income as the starting point for your earnings. This can throw off your budget by giving you the impression that you have access to more money than you actually do.

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05 Budgeting Basics Aug EKC from Jane Davies on Vimeo.

Boost Your Credit Score: Four Myths Debunked

Credit scores are an area of personal finance that seem a lot more mysterious than they
actually are. Many people believe that improving them is a matter of trial and error and, as a
result, there’s a lot of “credit score advice” floating around that can end up doing more harm
than good.

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How to Build & Maintain Your Credit Score from Jane Davies on Vimeo.

Foiling Identity Theft

Identity theft is nothing new, and yet it still manages to cost its victims billions of dollars (yes, that’s billions with a “b”) globally each year—not to mention the time and hassle involved in recovering a stolen identity.

The good news is that there are tons of things you can do to deter identity thieves. The bad news is that many of us do little beyond choosing a decent password—and some people don’t even bother doing that! Here are the top 5 information jackpots for identity thieves, along with helpful tips on what you can do right now to protect yourself.

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Foiling Identity Theft from Jane Davies on Vimeo.

What is a Credit Score?

You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what’s the deal with checking them?

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What is a Credit Score from Jane Davies on Vimeo.

Choosing Your Financial Institution

What was the very first financial choice you ever made? It likely took place before your first job, even as far back as when your annual income consisted of money from the tooth fairy and lucky pennies. The very first financial decision you ever made is also one of the most important choices—where to keep your money.

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Choosing a Financial Institution from Jane Davies on Vimeo.

 

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