oh hello better let me start you off with a little something money money is
with a little something money money is
with a little something money money is all around us
all around us
all around us right we need money to buy that brand
right we need money to buy that brand
right we need money to buy that brand new spankin iPhone 7 that magically
new spankin iPhone 7 that magically
new spankin iPhone 7 that magically bends in their market money is what gets
bends in their market money is what gets
bends in their market money is what gets you that dress they look really good on
you that dress they look really good on
you that dress they look really good on you from forever 21
you from forever 21
you from forever 21 you know exactly what dress I’m talking
you know exactly what dress I’m talking
you know exactly what dress I’m talking about money is what will pay for your
about money is what will pay for your
about money is what will pay for your post-secondary tuition
post-secondary tuition
post-secondary tuition whether if you are going to a university
whether if you are going to a university
whether if you are going to a university or college but how do you ask you
or college but how do you ask you
or college but how do you ask you something this powerful tool that drives
something this powerful tool that drives
something this powerful tool that drives our developing world today are we all
our developing world today are we all
our developing world today are we all ready to fully utilize and possess money
ready to fully utilize and possess money
ready to fully utilize and possess money as its rule hello everybody my name is
as its rule hello everybody my name is
as its rule hello everybody my name is chanel a better high school student here
chanel a better high school student here
chanel a better high school student here at Burrell secondary school today
at Burrell secondary school today
at Burrell secondary school today I want to talk about something a little
I want to talk about something a little
I want to talk about something a little more the practical side of things when
more the practical side of things when
more the practical side of things when we talk about the theme of what now more
we talk about the theme of what now more
we talk about the theme of what now more specifically I want to talk about how we
specifically I want to talk about how we
specifically I want to talk about how we can start prepared for the problem of
can start prepared for the problem of
can start prepared for the problem of financial roadblocks because like I said
financial roadblocks because like I said
financial roadblocks because like I said money money is everywhere and we need a
money money is everywhere and we need a
money money is everywhere and we need a lot of it to get through our daily lives
lot of it to get through our daily lives
lot of it to get through our daily lives in fact let me share with your little
in fact let me share with your little
in fact let me share with your little sisters the governments of Canada
sisters the governments of Canada
sisters the governments of Canada Government of Canada website showed that
Government of Canada website showed that
Government of Canada website showed that on average an Ontario household uses
on average an Ontario household uses
on average an Ontario household uses eighty five thousand dollars on living
eighty five thousand dollars on living
eighty five thousand dollars on living expenses alone every year 2014 and that
expenses alone every year 2014 and that
expenses alone every year 2014 and that number is on the rise
number is on the rise
number is on the rise eighty-five thousand dollars think about
eighty-five thousand dollars think about
eighty-five thousand dollars think about that for a second on average college
that for a second on average college
that for a second on average college tuition cost about ten $10,000 $11,000
tuition cost about ten $10,000 $11,000
tuition cost about ten $10,000 $11,000 plus plus supplies – residence and call
plus plus supplies – residence and call
plus plus supplies – residence and call a for University cost about fifteen to
a for University cost about fifteen to
a for University cost about fifteen to twenty thousand in a single year an
twenty thousand in a single year an
twenty thousand in a single year an average Ontario household uses four
average Ontario household uses four
average Ontario household uses four years worth of university tuition in a
years worth of university tuition in a
years worth of university tuition in a single year an average of arterial
single year an average of arterial
single year an average of arterial household uses the amount of money that
household uses the amount of money that
household uses the amount of money that would set you up for life in education
would set you up for life in education
would set you up for life in education that’s crazy
that’s crazy
that’s crazy that’s a lot of money and despite that
that’s a lot of money and despite that
that’s a lot of money and despite that fact
fact
fact Canadians it shows
Canadians it shows
Canadians it shows we are not saving as much as we should a
we are not saving as much as we should a
we are not saving as much as we should a survey done by Polara for the Bank of
survey done by Polara for the Bank of
survey done by Polara for the Bank of Montreal 2015 found that on average
Montreal 2015 found that on average
Montreal 2015 found that on average Canadians only have 41 thousand dollars
Canadians only have 41 thousand dollars
Canadians only have 41 thousand dollars in savings
in savings
in savings $41,000 at 56% of those people have only
$41,000 at 56% of those people have only
$41,000 at 56% of those people have only $10,000 in savings now it’s even worse
$10,000 in savings now it’s even worse
$10,000 in savings now it’s even worse than America where a Google consumer
than America where a Google consumer
than America where a Google consumer survey found out that sixty sixty-two
survey found out that sixty sixty-two
survey found out that sixty sixty-two percent of people only have $1,000 or
percent of people only have $1,000 or
percent of people only have $1,000 or less in their savings account and 21% of
less in their savings account and 21% of
less in their savings account and 21% of them don’t even have a savings account
them don’t even have a savings account
them don’t even have a savings account they virtually are living a paycheck to
they virtually are living a paycheck to
they virtually are living a paycheck to paycheck lifestyle now telling with you
paycheck lifestyle now telling with you
paycheck lifestyle now telling with you a little story this was about a little
a little story this was about a little
a little story this was about a little co-worker that I usually working with at
co-worker that I usually working with at
co-worker that I usually working with at a retail store she was very smart woman
a retail store she was very smart woman
a retail store she was very smart woman mind you she took a new biology course
mind you she took a new biology course
mind you she took a new biology course at wealth and at that time she was
at wealth and at that time she was
at wealth and at that time she was taking an online course to become an
taking an online course to become an
taking an online course to become an addiction study specialist from McMaster
addiction study specialist from McMaster
addiction study specialist from McMaster I came to the store one day and she was
I came to the store one day and she was
I came to the store one day and she was wearing this to do all black work attire
wearing this to do all black work attire
wearing this to do all black work attire I said oh that looks really good on you
I said oh that looks really good on you
I said oh that looks really good on you and she said thank you I spent five
and she said thank you I spent five
and she said thank you I spent five hundred dollars on this dress and I only
hundred dollars on this dress and I only
hundred dollars on this dress and I only have about twenty dollars left and
have about twenty dollars left and
have about twenty dollars left and savings overall way we hold on hold
savings overall way we hold on hold
savings overall way we hold on hold another minute no twenty dollars overall
another minute no twenty dollars overall
another minute no twenty dollars overall that’s it’s not even up to buy your
that’s it’s not even up to buy your
that’s it’s not even up to buy your groceries or have what happens if
groceries or have what happens if
groceries or have what happens if something came up where your online
something came up where your online
something came up where your online course like supplies or our special to
course like supplies or our special to
course like supplies or our special to wishes they have to pay you won’t be
wishes they have to pay you won’t be
wishes they have to pay you won’t be able to pay for anything your paycheck
able to pay for anything your paycheck
able to pay for anything your paycheck isn’t in the next two weeks what are you
isn’t in the next two weeks what are you
isn’t in the next two weeks what are you gonna do other than the obvious fact
gonna do other than the obvious fact
gonna do other than the obvious fact that money gets your passes like food
that money gets your passes like food
that money gets your passes like food and clothing there are more pressing
and clothing there are more pressing
and clothing there are more pressing benefits as to why we should start
benefits as to why we should start
benefits as to why we should start saving money now and not instead of
saving money now and not instead of
saving money now and not instead of later number one financial independence
later number one financial independence
later number one financial independence now course what I wouldn’t have a
now course what I wouldn’t have a
now course what I wouldn’t have a substantial amount of money saved up
substantial amount of money saved up
substantial amount of money saved up that means you’re financially
that means you’re financially
that means you’re financially independent be financially independent
independent be financially independent
independent be financially independent allows you to make more flexible and
allows you to make more flexible and
allows you to make more flexible and more lenient choices in your lifestyle
more lenient choices in your lifestyle
more lenient choices in your lifestyle compared to other they kept the Paycheck
compared to other they kept the Paycheck
compared to other they kept the Paycheck lifestyle now this doesn’t mean that you
lifestyle now this doesn’t mean that you
lifestyle now this doesn’t mean that you could go to the mall and let obviously
could go to the mall and let obviously
could go to the mall and let obviously spend all your savings but it does mean
spend all your savings but it does mean
spend all your savings but it does mean that you are for example a
that you are for example a
that you are for example a take a vacation from work when you need
take a vacation from work when you need
take a vacation from work when you need it help out your family in a financial
it help out your family in a financial
it help out your family in a financial slump or pay for a secondary tuition if
slump or pay for a secondary tuition if
slump or pay for a secondary tuition if you have ever have a change of career in
you have ever have a change of career in
you have ever have a change of career in a heart number two you’re gonna need a
a heart number two you’re gonna need a
a heart number two you’re gonna need a lot of money or necessities
lot of money or necessities
lot of money or necessities all right at some point in your life
all right at some point in your life
all right at some point in your life you’re gonna have to buy something that
you’re gonna have to buy something that
you’re gonna have to buy something that is that cost a lot of money out of
is that cost a lot of money out of
is that cost a lot of money out of necessity again when I say this SED I
necessity again when I say this SED I
necessity again when I say this SED I don’t mean that $100 jacket from j.crew
don’t mean that $100 jacket from j.crew
don’t mean that $100 jacket from j.crew I don’t mean those shoes from the baton
I don’t mean those shoes from the baton
I don’t mean those shoes from the baton I certainly don’t mean that new gaming
I certainly don’t mean that new gaming
I certainly don’t mean that new gaming console when I say necessity I’m talking
console when I say necessity I’m talking
console when I say necessity I’m talking about a down payment for a house a car
about a down payment for a house a car
about a down payment for a house a car or again university tuition things that
or again university tuition things that
or again university tuition things that have considerable value in our lives do
have considerable value in our lives do
have considerable value in our lives do not come treatment and large sums of
not come treatment and large sums of
not come treatment and large sums of money do not appear out of North and
money do not appear out of North and
money do not appear out of North and even if they do credit card companies or
even if they do credit card companies or
even if they do credit card companies or banks will charge you an interest rate
banks will charge you an interest rate
banks will charge you an interest rate that make sure you suffer those
that make sure you suffer those
that make sure you suffer those consequences later number three not only
consequences later number three not only
consequences later number three not only having any financial plan or any
having any financial plan or any
having any financial plan or any financial savings can lead to
financial savings can lead to
financial savings can lead to materialistic downsides but it can also
materialistic downsides but it can also
materialistic downsides but it can also lead to negative emotional effects
lead to negative emotional effects
lead to negative emotional effects studies that show studies have shown
studies that show studies have shown
studies that show studies have shown that people who are are under debt or
that people who are are under debt or
that people who are are under debt or have no financial plan or under extreme
have no financial plan or under extreme
have no financial plan or under extreme amounts of pressures in everyday life do
amounts of pressures in everyday life do
amounts of pressures in everyday life do their spending and do that pressure that
their spending and do that pressure that
their spending and do that pressure that can result things like anxiety fear
can result things like anxiety fear
can result things like anxiety fear unrest anger all of these things do not
unrest anger all of these things do not
unrest anger all of these things do not have a very good outcome of a human body
have a very good outcome of a human body
have a very good outcome of a human body overall and finally number four it
overall and finally number four it
overall and finally number four it doesn’t care about any plans you have
doesn’t care about any plans you have
doesn’t care about any plans you have you could plan your life fifty years
you could plan your life fifty years
you could plan your life fifty years from now and life will take those notes
from now and life will take those notes
from now and life will take those notes that you’ve made up for the future and
that you’ve made up for the future and
that you’ve made up for the future and it will say oh these are some nice plans
it will say oh these are some nice plans
it will say oh these are some nice plans you made and shucks it out the window
you made and shucks it out the window
you made and shucks it out the window life is an essence of time it does not
life is an essence of time it does not
life is an essence of time it does not care about whether you do or will not do
care about whether you do or will not do
care about whether you do or will not do so when life throws worker ball is it
so when life throws worker ball is it
so when life throws worker ball is it not better to have a reliable asset
not better to have a reliable asset
not better to have a reliable asset saved up such as money to counteract
saved up such as money to counteract
saved up such as money to counteract that curveball rather than not be
that curveball rather than not be
that curveball rather than not be prepared for it at all what I’m trying
prepared for it at all what I’m trying
prepared for it at all what I’m trying to say is money is an important asset in
to say is money is an important asset in
to say is money is an important asset in our
our
our and we start saving now if we start
and we start saving now if we start
and we start saving now if we start saving now not only will we have upset a
saving now not only will we have upset a
saving now not only will we have upset a substantial amount of money
substantial amount of money
substantial amount of money save it for the future but we will have
save it for the future but we will have
save it for the future but we will have learned and mastered the skill of
learned and mastered the skill of
learned and mastered the skill of self-control and financial management
self-control and financial management
self-control and financial management and other than the actual money that you
and other than the actual money that you
and other than the actual money that you are able to put aside that’s still and
are able to put aside that’s still and
are able to put aside that’s still and those skills will set you up for life
those skills will set you up for life
those skills will set you up for life and no amount of financial setback can
and no amount of financial setback can
and no amount of financial setback can hinder you too deeply that there are
hinder you too deeply that there are
hinder you too deeply that there are tons of ways it’s ethics in order to
tons of ways it’s ethics in order to
tons of ways it’s ethics in order to start saving money but to put it bluntly
start saving money but to put it bluntly
start saving money but to put it bluntly don’t start putting your money in a
don’t start putting your money in a
don’t start putting your money in a savings account right now you don’t have
savings account right now you don’t have
savings account right now you don’t have a safe to go go to the bank and make one
a safe to go go to the bank and make one
a safe to go go to the bank and make one actually no no in fact before all this
actually no no in fact before all this
actually no no in fact before all this make a time machine go back 10 years and
make a time machine go back 10 years and
make a time machine go back 10 years and tell your younger self then to start
tell your younger self then to start
tell your younger self then to start saving money now that’s how important it
saving money now that’s how important it
saving money now that’s how important it is even the smallest things like
is even the smallest things like
is even the smallest things like interest rates rack up over 30 to 40
interest rates rack up over 30 to 40
interest rates rack up over 30 to 40 years
years
years things like 0.01 percentage that stuff
things like 0.01 percentage that stuff
things like 0.01 percentage that stuff may look small now but it’ll look like a
may look small now but it’ll look like a
may look small now but it’ll look like a pretty big difference in a long term and
pretty big difference in a long term and
pretty big difference in a long term and a long term view so here’s a little
a long term view so here’s a little
a long term view so here’s a little something to start you off with the
something to start you off with the
something to start you off with the habit of saving do yourself a favor and
habit of saving do yourself a favor and
habit of saving do yourself a favor and pay yourself now more specifically what
pay yourself now more specifically what
pay yourself now more specifically what I mean paying yourself is that whenever
I mean paying yourself is that whenever
I mean paying yourself is that whenever you get any sort of income say from a
you get any sort of income say from a
you get any sort of income say from a picture from an allowance or that $5
picture from an allowance or that $5
picture from an allowance or that $5 bill you picked up on the floor anytime
bill you picked up on the floor anytime
bill you picked up on the floor anytime you get any sort of income set aside a
you get any sort of income set aside a
you get any sort of income set aside a certain percentage of that money save 20
certain percentage of that money save 20
certain percentage of that money save 20 to 30% in this days account even before
to 30% in this days account even before
to 30% in this days account even before you pay you off your expenses even
you pay you off your expenses even
you pay you off your expenses even before you buy the best rest even before
before you buy the best rest even before
before you buy the best rest even before you do anything with that money or it’s
you do anything with that money or it’s
you do anything with that money or it’s in a savings account this will teach you
in a savings account this will teach you
in a savings account this will teach you to live on a tighter budget and adapt
to live on a tighter budget and adapt
to live on a tighter budget and adapt your lifestyle to that type of engine
your lifestyle to that type of engine
your lifestyle to that type of engine paving the road for financial discipline
paving the road for financial discipline
paving the road for financial discipline now other competing choices might be
now other competing choices might be
now other competing choices might be making a budget so record all of your
making a budget so record all of your
making a budget so record all of your purchases
purchases
purchases and transactions that can make you a
and transactions that can make you a
and transactions that can make you a single mom keep your receipts and at the
single mom keep your receipts and at the
single mom keep your receipts and at the end of that month you can figure out
end of that month you can figure out
end of that month you can figure out where in life you’re spending the most
where in life you’re spending the most
where in life you’re spending the most amount of money by soar above going back
amount of money by soar above going back
amount of money by soar above going back under records and from there you could
under records and from there you could
under records and from there you could map out where in life you can start
map out where in life you can start
map out where in life you can start cutting back costs Wow
cutting back costs Wow
cutting back costs Wow and it’s also nice to have a trusted
and it’s also nice to have a trusted
and it’s also nice to have a trusted friend help you under this as well
friend help you under this as well
friend help you under this as well because they could help you with the
because they could help you with the
because they could help you with the choices that the purchases that you make
choices that the purchases that you make
choices that the purchases that you make in your lifestyle then obviously two
in your lifestyle then obviously two
in your lifestyle then obviously two heads are better than one
heads are better than one
heads are better than one Wadley this is something personal that I
Wadley this is something personal that I
Wadley this is something personal that I picked up them over the years when I was
picked up them over the years when I was
picked up them over the years when I was eight years old I wanted a Lego toy set
eight years old I wanted a Lego toy set
eight years old I wanted a Lego toy set I know they go toys says the kids only
I know they go toys says the kids only
I know they go toys says the kids only use them for three days they cost a lot
use them for three days they cost a lot
use them for three days they cost a lot and once the kids are done playing with
and once the kids are done playing with
and once the kids are done playing with it they leave it on the floor and it’s a
it they leave it on the floor and it’s a
it they leave it on the floor and it’s a minefield for everybody but I wanted
minefield for everybody but I wanted
minefield for everybody but I wanted them so I went to my mom and dad and I
them so I went to my mom and dad and I
them so I went to my mom and dad and I said hey I want this leg up so I gave it
said hey I want this leg up so I gave it
said hey I want this leg up so I gave it to me and instead of them just buying it
to me and instead of them just buying it
to me and instead of them just buying it for me straight up for Christmas or
for me straight up for Christmas or
for me straight up for Christmas or giving me an allowance they’d pick me up
giving me an allowance they’d pick me up
giving me an allowance they’d pick me up look me in the car drove me to a
look me in the car drove me to a
look me in the car drove me to a newspaper delivery separate that’s it
newspaper delivery separate that’s it
newspaper delivery separate that’s it here you go son go get a job now we’re
here you go son go get a job now we’re
here you go son go get a job now we’re not paying anything for you so ever
not paying anything for you so ever
not paying anything for you so ever since then since I started hurting my
since then since I started hurting my
since then since I started hurting my own I’ve only made sure to purchase
own I’ve only made sure to purchase
own I’ve only made sure to purchase things that I only really really wanted
things that I only really really wanted
things that I only really really wanted then I or only necessary for me so I
then I or only necessary for me so I
then I or only necessary for me so I thought of every purchase like a tattoo
thought of every purchase like a tattoo
thought of every purchase like a tattoo now what somebody when you say you want
now what somebody when you say you want
now what somebody when you say you want to tattoo something they’ll probably
to tattoo something they’ll probably
to tattoo something they’ll probably have the same where they say if you wake
have the same where they say if you wake
have the same where they say if you wake up in the morning the next three years
up in the morning the next three years
up in the morning the next three years from now and have that same thought of
from now and have that same thought of
from now and have that same thought of game engine two for three years when you
game engine two for three years when you
game engine two for three years when you wake up in the morning
wake up in the morning
wake up in the morning thank you get that tattoo think of your
thank you get that tattoo think of your
thank you get that tattoo think of your purchases in the exact same way if you
purchases in the exact same way if you
purchases in the exact same way if you want to buy something that cost a lot
want to buy something that cost a lot
want to buy something that cost a lot and you really have that temptation
and you really have that temptation
and you really have that temptation control yourself bring that temptation
control yourself bring that temptation
control yourself bring that temptation home with you sleep on it sleep on it
home with you sleep on it sleep on it
home with you sleep on it sleep on it for three months and then if you sleep
for three months and then if you sleep
for three months and then if you sleep on it for three months and every single
on it for three months and every single
on it for three months and every single day of that those three months you wake
day of that those three months you wake
day of that those three months you wake up with the thought abide that thing
up with the thought abide that thing
up with the thought abide that thing then you could buy it if you don’t have
then you could buy it if you don’t have
then you could buy it if you don’t have the temptation
the temptation
the temptation pass the three months don’t even bother
pass the three months don’t even bother
pass the three months don’t even bother getting it you don’t need it you could
getting it you don’t need it you could
getting it you don’t need it you could save money better that way ladies and
save money better that way ladies and
save money better that way ladies and gentlemen final point being I implore
gentlemen final point being I implore
gentlemen final point being I implore you we need a lot of money to survive in
you we need a lot of money to survive in
you we need a lot of money to survive in the
the
the we need a lot of money to live a good
we need a lot of money to live a good
we need a lot of money to live a good life
life
life money doesn’t appear out of nowhere and
money doesn’t appear out of nowhere and
money doesn’t appear out of nowhere and it is better to start saving up and
it is better to start saving up and
it is better to start saving up and building up these skills of financial
building up these skills of financial
building up these skills of financial management and self control now rather
management and self control now rather
management and self control now rather than later and don’t let those credit
than later and don’t let those credit
than later and don’t let those credit card companies get you that’s a story
card companies get you that’s a story
card companies get you that’s a story for me for a whole another day ladies
for me for a whole another day ladies
for me for a whole another day ladies and gentlemen have a good
and gentlemen have a good
and gentlemen have a good [Applause]
”
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