How to manage household finances with step kids

Globe and Mail

Today’s Globe and Mail includes an article on finances when step kids are involved. Blended families, that is those including step kids, now make up 12.6 per cent of all Canadian families with children.

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The bank of mom and dad: Financing your kids’ education

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It costs big bucks to provide your child with a university education. If you have more than one, it costs a small fortune. I know, as my husband and I helped our three children.

Apart from the noble goal of wanting them to value knowledge, we also wanted our kids to be able to look after themselves financially as adults; be debt free at the end of their first degree; and appreciate the cost of education. And not necessarily in that order.

So this is what we did. Read More

The bank of mom and dad: Helping kids financially

My twenty something son, who has a B.A. in anthropology, lives on next to no money. He works shifts at Starbucks and he often doesn’t get 40 hours a week.

But I am in awe of how of how happy he is and how well he lives on so little.  He lives in a $500 rent to income bachelor apartment in downtown Ottawa; he bikes everywhere in the summer and uses public transportation in the winter; he is a vegetarian and cooks with dried lentils and beans and he manages to go to the occasional concert and meet his friends for beer.

We don’t give him money because, not because we can’t afford to, but because we we think it is best for him to fend for himself.                                                                                                                                      
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