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Markets Soar to Record Highs as Loonie Rebounds Amid Trade Optimism

North American stock markets kicked off July with a bang, as the TSX, S&P 500, and Nasdaq all closed at record highs  on Monday, buoyed by strong tech performance and renewed optimism around global trade negotiations. The S&P 500 rose 0.52% to 6,204.95 , while the Nasdaq climbed 0.48% to 20,369.73 , both notching fresh all-time highs. The Dow Jones Industrial Average added 275 points , closing at 44,094.77. Canada’s TSX Composite Index also surged , reflecting investor confidence in the domestic economy and easing geopolitical tensions. Driving the rally were heavyweight tech stocks like Nvidia, Meta, and Microsoft, which continued to benefit from investor enthusiasm around artificial intelligence and digital transformation. The momentum was further supported by Canada’s decision to scrap its digital services tax, a move seen as a goodwill gesture to advance trade talks with the U.S.. Meanwhile, the Canadian dollar (loonie) rebounded  from last week’s dip, recovering g...
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How to Raise Money-Smart Kids: A Guide for Parents

 

Money is an essential part of life, but many children grow up without learning the basics of financial literacy. This can lead to poor money habits and financial difficulties in adulthood. As a parent, you have the opportunity to teach your kids about money and help them develop a healthy relationship with it. 

Here are some tips on how to raise money-smart kids:

1. Start early. You can introduce the concept of money to your kids as soon as they can count. Use coins and bills to teach them the value of different denominations and how to exchange them. You can also play games like store or bank with them to make learning fun.

2. Give them an allowance. An allowance is a great way to teach your kids about earning, saving, spending, and budgeting money. You can decide how much to give them based on their age, needs, and chores. You can also encourage them to save for their goals or donate to a cause they care about.

3. Talk about money. Don't shy away from discussing money matters with your kids. You can share your own experiences, challenges, and successes with money. You can also explain how you manage your income, expenses, debts, and savings. This will help your kids understand how money works and why it's important to be responsible with it.

4. Teach them to be smart consumers. Your kids will be exposed to a lot of advertising and peer pressure that may influence their spending decisions. You can help them become smart consumers by teaching them to compare prices, quality, and value of different products and services. You can also teach them to avoid impulse buying and to think twice before making a purchase.

5. Set a good example. Your kids will learn a lot from observing your own behavior with money. If you want them to be money-smart, you need to be money-smart yourself. Show them how you plan, save, invest, and spend your money wisely. You can also involve them in some of your financial decisions and activities, such as shopping, paying bills, or reviewing your bank statements.

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