Grandparents scrambling to buy the “perfect” gift may want to pause and consider something a little more practical than a remote-controlled car or a Frozen Barbie doll. Consider items that help kids learn about money and ways to save, share, and spend it.
Cash or gift cards
While not always the best choice, dollar bills or coins can sometimes hit the right note.
‘If you’re doing money, give cash to young children, as they can connect with the value of money when it’s in cash rather than a gift card or cheque,” says Kathryn Mandelcorn, a certified money coach with Money Coaches Canada in Vancouver (http://moneycoachescanada.ca/about/kathryn-mandelcorn/). “Sometimes giving cash can feel like you are not making an effort in your gift giving but I believe on the contrary. It allows the child to make decisions with money on how to spend or save it.”
It works even better when you help with those decisions, going with them to make choices in a store and even allotting a portion to sharing.
“In many cases, money can be powerful if used in the right way,” says Darren Coleman, certified financial planner, portfolio manager, and assistant branch manager at Raymond James in Toronto (http://raymondjames.com/colemanwealth/index.htm). “You can say, ‘I’d like to go with you to spend it. You are going to give some of it a charity and we’re going to work on who we’re going to give it to and why that is meaningful to you. Certain charities have catalogues where you can buy a well or a medical kit; something tangible like that is especially good for kids.
“Then when you go shopping together, you can say ‘we’re going to talk about what you like, what you’re interested in, so you become educated about how you should make purchases,’” he adds. “They might have $100 to spend at Chapters or Sport Chek and they have to make economic decisions: will they buy one big thing or three smaller things? Gift cards for kids are interesting because they can be an educational tool: if you do it well you can get a child educated on becoming a consumer and being involved in making choices.”
For relatives wanting to give money to preteens but who are worried it will just get squandered, Mandelcorn suggests “dream building”.
“Dream building is a wonderful way to give,” she says. “It may be the child’s dream or it may be a reflection of your dream – a love of travel, for instance. Open an account for your preteen and every month deposit an amount, perhaps $10 a month. By the time they have graduated they have an amount set aside to travel or for whatever other dream they have.”
Money-related games or toys
One of Lee Richmond’s top recommendations for those looking to instill a little financial savvy into their young’uns this holiday season is the Moonjar Savings Bank. The three-part box has sections labelled Save, Share, and Spend.
“This is my all-time favourite,” says the owner of Kaboodles Toy Store (http://www.kaboodlestoystore.com/) in Vancouver and Victoria. “It really teaches younger kids, up to about age 10, how to separate their money. They can visually understand the concept of saving for something in the future, even if that future is in only two weeks. Also, so many parents these days are trying to teach their children about giving to others, and this is one way to do it. It’s also a way to teach fractions and percentages.”
A home-made spin on this, Mandelcorn notes, is to take four mason jars, let the kids decorate them, and label them Spend, Save, Invest, and Give.
Other toys for kids aged three and up, Richmond says, include the Teaching Cash Register by Learning Resources, which contains Canadian play money, an LCD screen that displays transactions, and a talking checkout scanner; and Star Wars Math Workbooks from Thomas Allen Publishers.
Then there are board games.
“Monopoly is a great game for kids to understand the value of money and how to save, spend and invest,” Mandelcorn says. “The traditional game is the best.”
For teenagers, she suggests Living Me to We: The Guide for Socially Conscious Canadians or Craig Kielburger’s Lessons from a Street Kid.
“Find a book that your teen would connect to,” Mandelcorn says. “It can inspire your to give back. Giving is a huge part of receiving, especially when it comes to money.”
This idea is better for older kids, since little ones still like having something to open on Christmas Day.
“A Christmas contribution during the teenage years allows you to start the conversation about post-secondary education,” Mandelcorn says. “What are the expectations? What portion will you pay for? Teaching your children about the cost of education early allows for you to plan together. Show them their RESP account and how they receive grant money and about the power of compound interest and the benefits of investing over the long term.”
Just be sure to check with the parents to make sure the gift doesn’t result in an overcontribution, Coleman notes: there are limits in place and excess contributions will result in negative tax implications.
Purchasing stock for a grandchild isn’t that common a gift these days.
“I think it’s great, but I don’t think kids get much out of it,” Coleman says. “It sounds interesting, but I don’t think the kid cares. They get a stock certificate and they just don’t understand it.”
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SALT LAKE CITY — Ferocious tyrannosaur dinosaurs may not have been solitary predators as long envisioned, but more like social carnivores such as wolves, new research unveiled Monday found. Paleontologists developed the theory while studying a mass tyrannosaur death site found seven years ago in the Grand Staircase-Escalante National Monument in southern Utah, one of two monuments that the Biden administration is considering restoring to their full size after former President Donald Trump shrunk them. Using geochemical analysis of the bones and rock, a team of researchers with the University of Arkansas determined that the dinosaurs died and were buried in the same place and were not the result of fossils washing in from multiple areas. Kristi Curry Rogers, a biology professor at Macalester College, said this research is a “good start” but more evidence would be needed before determining that the tyrannosaurs were living in a social group. “It is a little tougher to be so sure that these data mean that these tyrannosaurs lived together in the good times,” Rogers said. “It’s possible that these animals may have lived in the same vicinity as one another without travelling together in a social group, and just came together around dwindling resources as times got tougher.” In 2014, Bureau of Land Management paleontologist Alan Titus discovered the site, which was later named the Rainbows and Unicorns quarry because of the vast array of fossils contained inside. Excavation has been ongoing since the site's discovery because of the size of the area and volume of bones. “I consider this a once-in-a-lifetime discovery for myself,” Titus told reporters during a virtual news conference. “I probably won’t find another site this exciting and scientifically significant during my career.” The new Utah site is the third mass tyrannosaur grave site that's been discovered in North America and provides even more evidence that tyrannosaurs may have lived in groups, Titus said. The social tyrannosaurs theory began over 20 years ago when more than a dozen tyrannosaurs were found at a site in Alberta, Canada. Another mass death site in Montana again raised the possibility of social tyrannosaurs. Many scientists questioned the theory, arguing that the dinosaurs didn't have the brainpower to engage in sophisticated social interaction, Titus said. “Going that next step to understand behaviour and how animals behave requires really amazing evidence,” Joseph Sertich, curator of dinosaurs at the Denver Museum of Nature & Science, said at the news conference. “I think that this site, the spectacular collection of tyrannosaurs but also the other assembled pieces of evidence ... pushes us to the point where we can show some evidence for behaviour.” In addition to the tyrannosaurs, researchers have also found seven species of turtles, multiple fish and ray species, two other kinds of dinosaurs and a nearly complete skeleton of a juvenile Deinosuchus alligator. These other animals do not appear to have all died together. Paleontology groups have been among those pushing the federal government to restore the Bears Ears National Monument and Grand Staircase-Escalante to their original sizes to protect the region’s rich paleontological and archaeological record. Interior Secretary Deb Haaland visited southern Utah earlier this month as she prepared to submit recommendations on whether to reverse Trump’s decision to downsize the monuments. Titus said he showed Haaland some of the fossils at his lab during her visit and said she “appreciated getting to see the material.” “The (Bureau of Land Management) is protecting these fossils as national treasures.” Titus said. “They’re part of the story of how North America came to be and how ultimately we came to be.” ___ Eppolito is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a non-profit national service program that places journalists in local newsrooms to report on undercovered issues. Sophia Eppolito, The Associated Press
UK to toughen targets on greenhouse gas emissions, sources sayCarbon dioxide to be cut by 78% by 2035 compared with 1990 levels, the prime minister is expected to say later this week Boris Johnson at the launch of Cop26 in 2020. The new target is intended to help spur further action by other governments ahead of Cop26 in November. Photograph: WPA Pool/Getty Images
OTTAWA — A luxury car or expensive boat will soon cost more thanks to a new tax proposed in Monday's federal budget, which also raises taxes on tobacco and looks to put a little more money in the wallets of older and low-income Canadians. Starting Jan. 1, Ottawa plans to charge a luxury tax on new cars and personal aircraft priced over $100,000, and boats, for personal use, priced over $250,000. Federal Finance Minister Chrystia Freeland said it is fair to ask those who have prospered in this bleak year to do a little more for those who still need help. “That is why we are introducing a luxury tax,” Freeland said in the prepared text of her speech. “This budget lives up to our promise to do whatever it takes to support Canadians in the fight against COVID, and it makes significant investments in our future. All of this costs a lot of money.” The Liberals promised a luxury tax in their 2019 campaign platform. The new tax will be calculated as 20 per cent of the value above the threshold or 10 per cent of the full value of the luxury car, boat, or personal aircraft, whichever is lower. The GST/HST would apply to the final sale price, inclusive of the proposed tax. The proposed rules would exempt motorcycles and certain off-road vehicles, such as all-terrain vehicles and snowmobiles, as well as motor homes. Tim Reuss, president and CEO of the Canadian Automobile Dealers Association, said he was disappointed with the proposed tax. "The people that will be hurt the most by this are repair technicians and small businesses," Reuss said in a statement. NDP Finance critic Peter Julian said the NDP supports the idea of a luxury tax, but that the Liberals should have instituted a so-called wealth tax that taxes someone's total assets rather than a specific purchase. "I think Canadians are questioning why the prime minister is so opposed to the ultra-wealthy paying their fair share," Julian said. "A luxury tax is not a bad idea, but it is so small in terms of the challenges that Canada is facing." Smokers are also going to pay more under the budget. The budget increases the tobacco excise duty rate by $4 per carton of 200 cigarettes, along with corresponding increases on other tobacco products. The measure takes effect on Tuesday. However, there are more than tax increases in the budget. The Liberals want to put more money in the pockets of older Canadians with an increased Old Age Security payment for those 75 and older. In addition to a proposed one-time payment of $500 in August to OAS pensioners who will be 75 or older as of June 2022, Ottawa says it will increase OAS payments for those over 75 by 10 per cent on an ongoing basis. Low-wage workers also stand to benefit from changes to the Canada Workers Benefit that extend income top-ups to about a million more Canadians. Ottawa wants to change the rules so that Canadians can earn more before the benefit starts being reduced such that for the first time, most full-time workers earning minimum wage will receive significant support from the benefit. The government also wants to extend the Canada Recovery Benefit, which was created to help Canadians not covered by employment insurance, to provide an additional 12 weeks of benefits to a maximum of 50 weeks, and extend the Canada Recovery Caregiving Benefit by an additional four weeks, to a maximum of 42 weeks. This report by The Canadian Press was first published April 19, 2021. Craig Wong, The Canadian Press
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WILMINGTON, Del., April 19, 2021 (GLOBE NEWSWIRE) -- Rigrodsky Law, P.A. announces that it is investigating American River Bankshares (“American River”) (NASDAQ GS: AMRB) regarding possible breaches of fiduciary duties and other violations of law related to American River’s agreement to be acquired by Bank of Marin Bancorp (“Marin Bancorp”) (NASDAQ GS: BMRC). Under the terms of the agreement, American River’s shareholders will receive 0.575 shares of Marin Bancorp per share. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-american-river-bankshares. You may also contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or email@example.com. Rigrodsky Law, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide. Attorney advertising. Prior results do not guarantee a similar outcome. CONTACT: Rigrodsky Law, P.A.Seth D. RigrodskyGina M. Serra(888) 969-4242 (Toll Free)(302) 295-5310Fax: (302) firstname.lastname@example.org https://rl-legal.com
Carrie Underwood wowed at last night’s American Country Music Awards. While the country star did not receive any nominations this year, her live performance — a gospel medley duet with CeCe Winans — was a highlight from the night. Another talking point in today’s news? Underwood’s ACM Awards ensemble: a white Grecian gown, and waist-grazing, platinum hair extensions. For the performance, the singer looked like a glittering vision sent down from above just to give us summer hair inspiration. Underwood wore a sparkling champagne-colored gown, but it was her hair that stole the stage. Thanks to the expert styling of Melissa Schleicher, Underwood’s blonde strands were styled in a center-parted, cascading blowout with just the right amount of wavy texture. Her makeup, also done by Schleicher, complemented the look with a smoky eye and a glossy, peach-toned lip. Whether your hair is already long or, like the majority of celebrities, you plan to go the extension or weave route to achieve the look, the end result is nothing short of high glamour. Opting for a wig or a weave is a great way to give yourself a quick makeover. There are a lot of options out there online, but luckily, there are some pretty great guides to point you in the right direction. For a look like Underwood’s, it’s about quality and quantity. This isn’t the kind of style you achieve with just a couple of clip-ins. It would require some strategic planning, hence our complete awe and respect for people like Schleicher who can make the rows of hidden hair look seamless. For now, we will be rewatching Underwood’s performance and looking online for extensions that could help us reach that level of just-beamed-down-from-heaven style. Like what you see? How about some more R29 goodness, right here?Maude Apatow Is Unrecognizable As A RedheadI Dyed My Hair "Bridal Blonde" For A COVID WeddingI Tried Olaplex No.8 & The Results Are Incredible
Police arrested a 51-year-old man in Corner Brook on Monday in relation to a home invasion. (Eddy Kennedy/CBC) Police arrested a 51-year-old man for a home invasion that allegedly took place in the Corner Brook area on Monday morning. In a news release, the Royal Newfoundland Constabulary said it responded to a report of a home invasion in progress in the Curling area of the city around 11:30 a.m. Police say the man entered the home while the owner was there. He was later arrested nearby by RNC Patrol Services and an RNC service dog, without incident. Police say the man was in possession of stolen property from an ongoing investigation that was reported in the Humber Road area earlier in the morning. The man is facing charges of break and enter (home invasion), theft, possession of property obtained by crime, mischief to property and three counts of breach of probation. Police say the man remains in custody at the Corner Brook Detention Centre and is expected to appear in court on Tuesday. Read more articles from CBC Newfoundland and Labrador