ASPiRE: Financial Wellness for Canadian Teens
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ASPiRE: Financial Wellness for Canadian Teens

Learn how to identify, plan, and achieve financial goals.
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1 student enrolled
Created by John Crosser
Last updated 3/2015
English
Current price: $10 Original price: $75 Discount: 87% off
1 day left at this price!
30-Day Money-Back Guarantee
Includes:
  • 5 hours on-demand video
  • 151 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Establish a rational decision making process to set and achieve financial goals.
  • Understand income and expense sources and how they relate to achieving financial goals.
  • Understand credit uses and their associated costs.
  • Understand the purpose of insurance and other risk management tools.
  • Understand savings and investing as they pertain to achieving financial goals.
View Curriculum
Requirements
  • Students should have a calculator and a basic arithmetic background (adding, subtracting, multiplying, dividing, and exponents).
Description

Are you excited to begin writing the script to the next chapter of your life? Are you eager to begin moving closer to living the life you have always imagined? Do you want to:

  • Find a career that best suits you and your skills?
  • Pay for post-secondary schooling?
  • Take a vacation?
  • Own a car?
  • Buy a house?
  • Stop working permanently on your terms?

THIS IS THE COURSE FOR YOU!

Join me as we uncover the secrets to controlling your own personal finances. Imagine a life where you are in control of achieving your own goals and designing your life's book. What does it look like? Discover how you can invest in your future self.

Learn to:

  • Set and Achieve Goals
  • Manage Cash Flow
  • Manage Debt and Use Other People's Money Effectively
  • Protect Your Assets
  • Build Wealth

Overview

This course is broken into 5 units and 20 lessons containing 75 easy to understand activities that will change the way you think about money management. Each lesson begins with specific outcomes to be discovered and ends with a recap of what was learned. What will it feel like when you can afford to buy and do the things you want, when you want?

“I believe we were all created to accomplish great things and be extraordinary people. Our ability to achieve greatness is only limited by the size and purity of our canvases, the harnessing of talents, and the intention of our strokes."—John Crosser

Who is the target audience?
  • This course is designed for Canadian teens that want to understand the moving parts of a financial game plan and how they come together to help achieve financial goals. This course will require a lot of working requires lots of effort as financial concepts and strategies are often discovered after working through examples.
Students Who Viewed This Course Also Viewed
Curriculum For This Course
Expand All 266 Lectures Collapse All 266 Lectures 09:03:26
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Introduction to ASPiRE
6 Lectures 15:00

Looking for information that will help you achieve visions and goals? Are you trying to make sense of all the moving parts to achieving goals, keeping cash flow....flowing, understanding the ins and outs of debt, how insurance can be used to protect what you have worked so hard to accomplish, or building wealth to help live life ever after? This is definitaly the place to start.

Preview 01:05

John Crosser, the owner of Knights Financial Management, is a business owner, teacher, coach, parent, financial advisor, independent mutual fund and insurance agent, and your guide to helping you better understand personal finances. As a financial coach for over 10 years John is passionate about helping people discover the hidden secrets to developing life plans.

Preview 1 page

What if more Canadian's understood the ins and outs of personal finances what would happen to our communities and families. What if teens better understood their own financies before they joined accounts with someone else?

Preview 01:24

Having your own goals should require you to find your own way to pay the costs of achieving them.

Preview 06:46

  1. Establish a rational decision making process to set and achieve financial goals
  2. Understand sources of income and expenses and how they relate to achieving financial goals
  3. Understand credit uses and costs
  4. Understand the purpose of insurance and risk management
  5. Understand, savings, investments, and retirement planning
Preview 05:45

View this page to see how your financial game plan will be developed through 5 units, 20 lessons, and 75 self directed activities.

Preview 5 pages
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Goal Setting
51 Lectures 01:25:15

What do you want our of life? Of all components involved when constructing a financial game plan goal setting is the most important. After completing the Goal Setting section students will:

  • Begin to see themselves in a better light with visualization and positive self talk.
  • Identify things that define who they are by understanding what they value and their skill sets.
  • Learn to determine what they want out of life and how to lay out a road map to get what they want.
  • Discover coping mechanism to help the successfully achieve their goals by learning to celebrate successes, overcome obstacles, and determine financial costs a head of time.
Preview 02:47

After completing lesson 1 students should be able to a) describe the importance of creating a clear vision, b) Identify & describe a variety life plans, c) Describe personal & social factors contributing to stress and have tools to reduce it. It all begins with seeing yourself in a better light.

Preview 00:54

Having the ability to see what you want in terms of career/work, physical/self-image, family/relationship, social/community, intellectual/personal pursuit, and financial/home visions is the starting point to any life plan.

Lesson 1 Presentation-What Do You See?
03:39

Complete this activity to begin to see how visions can be created.

Lesson 1-Activity 1
1 page

Lesson 1-Activity 1 Solutions
02:58

Discover the secret athletes and musician have been using for years to help them perform at a higher level. Vision boards are discussed with links to; samples (www.aspirebook.ca---not set up yet) and apple's vision board application from itunes (https://itunes.apple.com/ca/app/vision-board-pro/id463248118?mt=8). The author does not receive compensation from your purchase of any apple products.

Lesson 1 Presentation-Visualization
03:01

Complete this activity to learn the importance of visualization and how it can be used to help achieve visions.

Lesson 1-Activity 2
1 page

Lesson 1-Activity 2 Solutions
03:30

One way to control your thoughts is to use positive self talk. Learn how in this lesson.

Preview 02:41

Complete this activity to learn how to reprogram your thinking to help reduce stress.

Preview 2 pages


This lesson outlines how to:

  1. Identify & describe a variety life plans
  2. Describe personal & social factors contributing to stress.
  3. Describe the importance of creating a clear vision
Preview 3 pages

After completing lesson 2 students should be able to a) list the advantages of designing and following a personal plan, b) Describe the importance of personal values as they relate to careers, c) identify and describe work opportunities matching skills sets, d) develop career plans that include educational requirements and skill development, e) identify skills, traits and work habits. Theses outcomes will help students better understand what makes them unique.

Preview 01:05

This lesson focuses on how knowing and understanding what you value will help you choose an appropriate career, a job, and even a life partner. This lesson will also list and describe common characteristic that typical employers are looking for when they hire employees.

Lesson 2 Presentation-What Are Your Values?
07:47

Complete this activity to discover what you value.

Lesson 2-Activity 4
1 page

Lesson 2-Activity 4 Solutions
02:35

This lesson focuses on identifying your personal skill set. You will discover what skills match best with which careers and professions. In addition a link is offered to provide more informartion regarding future skills needed in Canada. (http://news.gc.ca/web/article-en.do?nid=838379)

Lesson 2 Presentation-What Are Your Skills?
02:21

Complete these activities to identify your skill set.

Lesson 2-Activity 5/6
4 pages

Lesson 2-Activity 5/6 Solutions
10:10

This lesson focuses on creating a personal statement that states what you value and what is skills set is. Keeping this statement in a place that can be routinely reread will help keep you grounded.

Lesson 2 Presentation-Who Are You?
01:49

Complete this activity to create a written statement of who you currently are. This lesson includes a link to discovering volunteering opportunities (http://www.youth.gc.ca/eng/topics/jobs/volunteer.shtml).

Lesson 2-Activity 7
1 page

Lesson 2-Activity 7 Solutions
03:32

This lesson focuses on identifying your personal and professional visions.

Lesson 2 Presentation-Laying Out Your Visions
01:58

Complete this activities to identify your professional and personal visions.

Lesson 2-Activity 8
1 page

Lesson 2-Activity 8 Solutions
02:01

This lesson outlines how to:

  1. List the advantages of designing and following a personal plan.
  2. Describe the importance of personal values as it relates to careers.
  3. Identify skills, traits, and work habits
  4. Identify and describe work opportunities matching skill set.
  5. Develop career plans that include education requirements and skill development.
Lesson 2 Recap
3 pages

After completing lesson 3 students should be able to a) compare short and long term financial goals, b) explain how aquiring experience in the community can help achieve future goals. c) analyze how personal goals, priorities, needs, and wants affect time talent and money, d) apply goal setting and an action planning process to planning a career. Theses outcomes will help students be more successful in getting what they want.

Preview 01:11

This lesson introduced goal setting using the STAR method. The art of goal setting is learning to combine clearly defined steps along a path with stepping stones spaced far enough apart as to make the next step look easy. It is okay to use someone else's path until you can blaze your own trail.

Lesson 3 Presentation-Setting Goals
05:16

Complete this activities to identify short term goals to help you achieve visions.

Lesson 3-Activity 9
1 page

Lesson 3-Activity 9 Solutions
00:05

This lesson focuses on setting short term goal to help reach long term goals, which in turn helps us achieve visions. This lesson also looks at how to be healthy with a series of short term fitness goals. Links are provide to both the YMCA (http://www.ymca.ca/en/who-we-are.aspx) and the YWCA (http://ywcacanada.ca/en/pages/national/who) as potential places to go to work on mental and physical wellness. The author does not receive compensation for promoting either the YMCA or the YWCA.

Lesson 3 Presentation-Short Term Goals
02:04

Complete this activities to further identify short term goals to help you achieve visions.

Lesson 3-Activity 10
1 page

Lesson 3 Activity 10 Solutions
00:05

This lesson begins laying out plans to move you closer to achieving visions. Short and long term goals are used to create a path in which you can follow.

Lesson 3 Presentation-Detailing Your Visions
02:52

Complete this activities to create a road map to achieve visions.

Lesson 3-Activity 11
1 page

Lesson 3-Activity 11 Solutions
01:45

This lesson outlines how to:

  1. Compare short and long term financial goals
  2. Explain how acquiring experience in the community can help achieve future goals
  3. Apply goal setting and action-planning process to planning career
Lesson 3 Recap
2 pages

After completing lesson 4 students should be able to a) design a plan to reach a specific financial goal, b) recognize that as individuals we are responsible for own finances, c) identify variables options to address anticipated challenges and stresses, d) investigate sources and types of financial assistance for funding post secondary education, e) explain hot to off set the financial implication of financing post secondary education. Theses outcomes will help students stay on track to completing their goals.

Preview 01:09

This lesson identifies ways to celebrate successes for accomplishing goals. The level of reward we receive or give to our selves can be modified to fit any budget. One key to achieving a goal is knowing the reward waiting for us when we achieve the next one.

Lesson 4 Presentation-Time to Party
01:50

Complete this activities to identify ways to help you celebrate your successes.

Lesson 4-Activity 12
1 page

Lesson 4-Activity 12 Solutions
01:25

This lesson recognizes the sacrifices that are often made to insure goals are met. Through mental preparation we can prepare ourselves to overcome difficult situation before they actually occur.

Lesson 4 Presentation-Sacrificing
02:17

Complete this activities to identify potential sacrifices that will have to made in order to help complete goals.

Lesson 4-Activity 13
1 page

Lesson 4-Activity 13 Solutions
02:02

This lesson focuses on how to prepare to pay the financial cost of attending a post-secondary school. Through planning future costs can be entirely or partial saved for. This lesson provides links to; CBC video on tuition cost in Canada and (RESP)-Registered Education Savings Plan (http://www.servicecanada.gc.ca/eng/goc/resp.shtml).

Lesson 4 Presentation-Post Secondary Financial Goal Setting
00:14

Complete this activities to discover ways to reduce the cost of getting a post-secondary degree.

Lesson 4-Activity 14
1 page

Lesson 4-Activity 14 Solutions
03:47

This lesson identifies the concept of retirement. In preparing to stop working (exchanging time for money) the amount of money need to do this requires taking into consideration several important points; at what age do we want to begin retirement, how long will we spend in retirement prior to meeting our maker, and how much do we need to spend each month to pay bills. One bill that is often over looked is the cost to eat. This lesson provides link to a Financial Post (http://business.financialpost.com/2014/04/22/how-much-money-is-enough-to-retire-only-you-can-figure-that-out/) article talking about future retirement costs. The author does not receive financial compensation for promoting this article.

A document (spreadsheet) is available to approximate the monthly amount needed to be saved in order to achieve a financial goals. The spreadsheet allows different aspects of goals to be altered to personalize results. The rate of return for each goals is 5% with exception to the rainy day savings account 0.5%.

Lesson 4 Presentation-Retirement 101 Financial Goal Setting
00:05

Complete this activities to discover an often forgotten expense that drastically affects the cost of retirement. A link is provide offering assistance in retirement planning to two Canadian Companies; Portfolio Strategies Corporation (http://www.portfoliostrategies.ca/About-Us/index.php) and PPI Solutions (http://www.ppisolutions.ca/). These companies provide connections across Canada to independent retirement planning advisors that can provide personal assistance. The author may receive financial compensation for services provided by planning advisors. Finding the right retirement planning advisor requires research and interviewing and it is important to find the appropriate match.

Lesson 4-Activity 15
1 page

Lesson 4-Activity 15 Solutions
03:17

This lesson outlines how to:

  1. Investigate sources and types of financial assistance for post secondary education
  2. Explain how to off set financial implication of financing post secondary education
  3. Design a plan to reach a specific financial goal.
  4. Recognize that as individuals we are responsible for own finances
Lesson 4 Recap
2 pages
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Cash Flow Management
60 Lectures 58:44

Looking for ways to help pay the financial costs of achieving your goals? After completing the Cash Flow Management section students will:

  • Realize the importance of being responsible for their own cash flow.
  • Discover ways to save and reasons to save.
  • Begin to understand how to become better managers of their expenses with budgeting and other tools.
  • Identify the impact sales and income tax has on their cash flow as well as areas in which tax revenue is spent.
Preview 02:14

After completing lesson 5 students should be able to a) demonstrate an understanding of the relationship between income and expenses, b) demonstrate an understanding of money management strategies to achieving goals, c) demostrate an understanding of personal financial skills required for the future, d) analze reasons to save. Theses outcomes will help students be more responsible for their own cash flow.

Preview 00:51

This lesson introduces the most common components of the flow of money in and out of our account. In addition, savings, saving, and investments are defined.

Lesson 5 Presentation-The Flow of Money
05:02

Complete this activity to learn how to where the flow of money goes.

Lesson 5-Activity 1
1 page

Lesson 5-Activity 1 Solutions
2 pages

This lesson focuses on how to be more efficient in generating cash inflow. The underlying issue in this lesson is to be responsible for your own cash flow and do not use the bank of mom and dad to accomplish your goals. This lesson also provides a link to the CRA website (http://www.servicecanada.gc.ca/eng/lifeevents/job.shtml) providing job opportunities.

Lesson 5 Presentation-Making it Happen.
03:42

Complete this activity to learn how to create cash inflow.

Lesson 5-Activity 2
2 pages

Lesson 5-Activity 2 Solutions
2 pages

This lesson focuses on rationales as to why money should be saved. The easy answer is to simply pay for the financial cost of achieving your goals but what are the costs.

Lesson 5 Presentation-Why Save it?
02:02

Complete this activity to learn how to determine costs associated with short term goals.

Lesson 5-Activity 3
1 page

Lesson 5-Activity 3 Solutions
1 page

This lesson focuses on strategies to save money. Allocating a percentage of the amount of money coming in is an easy way to begin saving.

Lesson 5 Presentation-Making Money Work
05:14

Complete this activity to learn how to calculate simple interest.

Lesson 5-Activity 4
1 page

Lesson 5-Activity 4 Solutions
1 page

This lesson outlines how to:

  1. The relationship between income and expenses.
  2. Money-management strategies to achieve goals
  3. Recognize personal financial skills required for the future
  4. Analyze reasons to save
Lesson 5 Recap
4 pages

After completing lesson 6 students should be able to a) demonstrate an understanding of income and spending issues, b) identify and effectively apply strategies for managing money resources, c) demonstrate an understanding of personal financial skills required for the future, d) identify ways to save. Theses outcomes will help students learn to save money to pay for their future financial goals.

Preview 00:32

This lesson focuses on treating your savings and investment accounts like an expense account. Each month it is important to pay bills so pay your savings and investment accounts like any other bill...on time and in full.

Lesson 6 Presentation-Developing the Savings Habit
06:04

Complete this activity to learn how to save money.

Lesson 6-Activity 5
3 pages

Lesson 6-Activity 5 Solutions
2 pages

This lesson introduces the idea that putting money to work by earning interest is way to help pay for goals. Choose the best savings account that will provide low risk and a little interest reward.

Lesson 6 Presentation-The Savings Expense
02:06

Complete this activity to learn how to calculate interest given a daily rate.

Lesson 6-Activity 6
1 page

Lesson 6-Activity 6 Solutions
1 page

This lesson develops the idea that saving for things that help us achieve our short term financial goals can be kept in an account called the Sunny Day Fund or Sunny Day Account. To help fund these accounts use your imagination to find money to pay for short term goals.

Preview 02:34

Complete this activity to learn how to save for sunny days.

Lesson 6-Activity 7
1 page


This lesson introduces the idea of pre-planning for unplanned emergency. Saving enough money to pay these unexpected bills allows us to keep living life as normal. Remember it is not if an emergency will happen it is when it will happen.

Lesson 6 Presentation-Rainy Day Savings
02:43

Complete this activity to see how important it is to establish a rainy day saving account.

Lesson 6-Activity 8
1 page

Lesson 6-Activity 8 Solutions
1 page

This lesson outlines how to:

  1. Demonstrate an understanding of income spending issues.
  2. Identify and effectively apply strategies for managing money resources
  3. Demonstrate an understanding of personal financial skills required for future
  4. Identify ways to save
Lesson 6 Recap
2 pages

After completing lesson 7 students should be able to a) analyze personal goals and priorities, personal needs, and wants influence money, b) demonstrate effective use of strategies for improving personal management skills, c) design, justify, and adjust personal budgets, d) describe how factors such as personal goals, needs, wants affect the use of money as a resource, e) list reasons for taxation and uses of tax revenue. Theses outcomes will help students become better managers of money.

Preview 01:02

This lesson analyzes common cash outflows. By differentiating between a want and need we can reduce our cash outflow and allocate unspent money into either a sunny day savings account, a rainy day emergency account, or a sunny day investment accounts.

Lesson 7 Presentation-Managing Cash Outflow
02:12

Complete this activity to learn how too many wants hinder our needs.

Lesson 7-Activity 9
2 pages

Lesson 7-Activity 9 Solutions
2 pages

This lesson focuses on the hidden dangers of using ATM's. Safety tips are identify to help keep our money safe.

Lesson 7 Presentation-ATM Expenses
02:17

Complete this activity to learn how using ATM's may be costing you more money then you thought.

Lesson 7-Activity 10
1 page

Lesson 7-Activity 10 Solutions
1 page

This lesson looks at controling expenses by analysing fixed and variable expense. Knowing where our money goes is important to find extra money to pay for goals.

Lesson 7 Presentation-Fixed and Variable Expenses
02:32

Complete this activity to identify fixed and variable expenses.

Lesson 7-Activity 11
2 pages

Lesson 7-Activity 11 Solutions
2 pages

This lesson introduces the idea of using a financial tool called budgeting as our buddy to find extra money to help pay for goals. Budgeting helps us determine where the cash comes from and where it goes.

Lesson 7 Presentation-BUDgeting
01:44

Complete this activity to identify items to monitor when tracking the flow of money. A link is provided to research current minimum wages (http://srv116.services.gc.ca/dimt-wid/sm-mw/rpt2.aspx?lang=eng&dec=5) by each province.

Lesson 7-Activity 12
1 page

Lesson 7-Activity 12 Solutions
1 page

This lesson further focuses on budgeting. This lesson also includes common ways to use every day to cut back on expenses and an advanced budget sheet located in the additional resources.

Lesson 7 Presentation-More BUDgeting
04:16

Complete this activity to learn how to modify a budget to decrease cash outflow and save money.

Lesson 7-Activity 13
3 pages

Lesson 7-Activity 13 Solutions
2 pages

This lesson outlines how to:

  1. Analyze how goals and priorities, personal needs & wants influence money.
  2. Demonstrate effective use of strategies for improving personal management skills
  3. Design, justify, and adjust personal budgets
  4. Describe how factors such as personal goals, needs and wants affect the use of money as
Lesson 7 Recap
2 pages

After completing lesson 8 students should be able to a) demonstrate an understanding of simple and compound interest, b) compare simple and compound interest, c) solve problems requiring the expression of percent and decimals to calculate sales tax, d) solve problems involving compound interest. Theses outcomes will help students better understand where their money is being spent.

Preview 00:35

This lesson focuses on how paying interest can drastically affect our cash flow. Although more will be discovered regarding paying interest rather than receiving interest in the next unit the cost of using other peoples money is worth mentioning here. This lesson also provides a link to the CRA website (http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/rts-eng.html) with up to date provincial sales tax information.

Lesson 8 Presentation-Cash Outflow: Paying Interest
02:37

Complete this activity to learn how paying interest affects your cash outflow.

Lesson 8-Activity 14
1 page

Lesson 8-Activity 14 Solutions
1 page

This lesson introduces the idea that taxes are used by governments (provincial and federal) to generate revenue to pay for things we often take for granted. In this lesson sales taxes are added on to most goods or services we purchase. Each province is different as to how they calculate sale tax and how the money generated is spent.

Lesson 8 Presentation-Cash Outflow: Paying Sales Tax
02:47

Complete this activity to learn how to calculate provincial sales tax.

Lesson 8-Activity 15
1 page

Lesson 8-Activity 15 Solutions
1 page

This lesson introduces federal income tax as way the government pays for such things as parks, roads, military, and police. The money we earned is taxed at a graduated tax rate. This generally means the more money we earn the more in taxes we have to pay. In addition, a link is provided outlining the current federal and provincial income tax rates (http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html). There are also links provided to find a professional in your area that can help with tax returns and bookkeeping Please visit www.knightsfm.ca to find appropriate professionals. The author does not receive compensation from these professionals.


Lesson 8 Presentation-Cash Outflow: Paying Federal Income Tax
03:19

Complete this activity to learn how to calculate Federal Income taxes.

Lesson 8-Activity 16
1 page

Lesson 8-Activity 16 Solutions
1 page

This lesson focuses on the provincial income tax. Just like the provincial sales tax each province calculates it's income tax differently. Depending on which province you live in you could be paying a flat provincial income tax rate or a graduated tax rate.

Lesson 8 Presentation-Cash Outflow: Paying Provincial Income Tax
02:19

Complete this activity to learn how to calculate Provincial Income taxes

Lesson 8-Activity 17
1 page

Lesson 8-Activity 17 Solutions
1 page

This lesson outlines how to:

  1. List reasons for taxation and uses of tax revenue
  2. Demonstrate an understanding of simple and compound interest
Lesson 8 Recap
1 page
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Debt Management
34 Lectures 27:47

Using other people's money to help meet our own financial goals is very dangerous. After completing the Debt Management section students will:

  • Understand the difference between debt and credit, as well as what may constitute the good and bad uses of debt.
  • Identify the pitfalls of not establishing an emergency savings program and using debt to fill in a cash short fall.
  • Learn the true cost of using debt to achieve financial goals.
Preview 01:11

After completing lesson 9 students should be able to a) describe the risks and responsibility associated with using credit, b) discuss the role of credit, c) describe the factors that affect credit worthiness, d) list the basic types of credit. Theses outcomes will help students better understand that using other peoples money is a privilege and not a right. .

Preview 00:37

This lesson introduces debt and credit. Credit refers to trustworthiness or credibility and debt is the obligation to repay what is borrowed. Although I believe that money should be saved to pay for virtually all goals some goals are just to costly to save for. In addition, general criteria is provided for apply for student loans.

Lesson 9 Presentation-Debt and Credit
03:16

Complete this activity to learn the components of applying for student loans. In to the exercises, links are provided to help research and further understand; RESP--Registered Education Savings Plan (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/menu-eng.html) and options for paying for post secondary education (http://www.youth.gc.ca/eng/topics/education/financing.shtml).

Lesson 9-Activity 1
2 pages

Lesson 9-Activity 1 Solutions
2 pages

This lesson focuses on some of the good and bad uses of debt. A general criteria for apply for a loan to buy a house is provided. A link is provided to highlight a Canadian debt problem (http://www.cbc.ca/news/business/canadians-go-deeper-into-debt-to-afford-mortgages-1.1828805).

Preview 02:54

Complete this activity to discover the added cost of using other peoples money.

Preview 1 page

Lesson 9-Activity 2 Solutions
2 pages

This lesson focuses on some of the pitfalls of not establishing a rainy day savings account. Relying on credit to pay for things not saved for can be extremely costly and could hinder you from ruining your credibility. Expect the unexpected and plan for the unpalnned.

Lesson 9 Presentation-Just for Convenience?
02:17

Complete this activity to discover some of the dangers of using other peoples money.

Lesson 9-Activity 3
1 page

Lesson 9-Activity 3 Solutions
2 pages

This lesson outlines how to:

  1. Describe the risks and responsibilities associated with using credit
  2. Discuss the role of credit.
  3. Describe the factors that affect credit worthiness
  4. List basic types of credit
Lesson 9 Recap
2 pages

After completing lesson 10 students should be able to a) compare services of various types of financial institutions and identify advantages, b) solve problems involving cost of purchases on credit, c) demonstrate an understanding of managing money strategies, d) discusss consquences of using excess debt, e) understand total cost when borrowing and making minimum payments. Theses outcomes will help students better understand how not to use other peoples money.

Preview 01:40

This lesson examines how expensive it can be to use other people's money to help achieve financial goals. Remember it is not if emegergcies will occur it is when they will.

Lesson 10 Presentation-Emergency Debt
01:51

Complete this activity to learn how paying interest can add costs to your purchase when using other peoples money.

Lesson 10-Activity 4
1 page

Lesson 10-Activity 4 Solutions
2 pages

This lesson introduces the added cost of using credit to purchase a car. In this lesson advantages and disadvantages will be identified as to saving for the car, using the dealer to financie the car and using your local bank to make the same purchase.

Lesson 10 Presentation-Breaking Bad Debt
03:53

Complete this activity to learn how buying a car using other people's money can really add up.

Lesson 10-Activity 5
1 page

Lesson 10-Activity 5 Solutions
2 pages

This lesson will highlight one of the most available and costliest forms of credit to use. The use of credit cards and store cards can double the cost of a purchase if interest rates and repayment plans are not looked after. Items that have been pruchased using credit hopefully have increased in value to off set the added cost of interest.

Lesson 10 Presentation-Charge Cards
02:09

Complete this activity to learn how stores will entice you to use other people's money to make purchases.

Lesson 10-Activity 6
2 pages

Lesson 10-Activity 6 Solutions
2 pages

This lesson outlines how to:

  1. Compare the services of various types of financial institutions and identify advantages
  2. Demonstrate an understanding of managing money strategies.
  3. Describe consequences of using excessive debt
Lesson 10 Recap
2 pages

After completing lesson 11 students should be able to a) compare the advantages and disadvantages of different payment methods, b) calculate and compare costs associated with the use of credit. Theses outcomes will help students better understand the true cost of using other people's money to pay for financial goals.

Preview 00:54

This lesson introduces mortgages as way to pay for a financial goal for owning a house. Several factors need to be monitored to keep the death grip from financially crippling you.

Lesson 11 Presentation-The Death Grip
02:27

Complete this activity to discover how using a mortgage can almost kill you.

Lesson 11-Activity 7
2 pages

Lesson 11-Activity 7 Solutions
1 page

This lesson further investigates mortgages and their overall cost to home or condo ownership. Keep close watch on your mortgage rate as a 2% change in interest rate could save or cost you an additional $10,000 over 5 years. A link is provided to help calculate the cost of a mortgage (http://www.fcac-acfc.gc.ca/Eng/resources/toolsCalculators/Pages/Mortgage-Calculat.aspx)


Lesson 11 Presentation-Loosening The Grip
02:07

Complete this activity to learn how to reduce the interest cost of a death grip (mortgage). A link is provided to find a professional in your area that can help search for mortgage of best fit. Please visit www.knightsfm.ca to find an appropriate professionals. The author does not receive compensation from these professionals.

Lesson 11-Activity 8
1 page

Lesson 11-Activity 8 Solutions
1 page

This lesson introduces a way to potentially establish creditibility. Sometimes we are limited or unable to use other people's money to pay for goals because we either do not have a history or we have a bad history of repaying loans. One potential way to establish credit history is to create a secured credit card.

Lesson 11 Presentation-Paying It Forward
02:31

Complete this activity to learn a potentail way to begin establishing credability.

Lesson 11-Activity 9
1 page

Lesson 11-Activity 9 Solutions
1 page

This lesson outlines how to:

  1. Compare the advantages and disadvantages of different payment methods
  2. Calculate and compare costs associated with the use of credit
Lesson 11 Recap
2 pages
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Asset Protection
29 Lectures 23:43

How can we protect the assets we have worked so hard to achieve? After completing the Protecting Asset section students will:

  • Identify ways to protect the replaceables accumulated with house and auto insurance.
  • Learn the most valuable asset they own is their ability to earn money.
  • Discover how life and health insurance can protect the irreplaceables.
Preview 01:58

After completing lesson 12 students should be able to a) identify common types of insurances, b) interpret information regarding owning and operating a vehicle, c) describe how to reduce cost of insurance, d) discuss consequences of being under insured. Theses outcomes will help students better understand the importance of insuring the replaceables.

Preview 00:42

This lesson introduces the difference general and personal insurance. It also briefly describes how insurance companies often work.

Preview 04:05

Complete this activity to get a general sense of how to reduce the costs of insurance.

Lesson 12-Activity 1
1 page

Lesson 12-Activity 1 Solutions
2 pages

This lesson introduces auto insurance. An example is used to show how to lower premiums cost by increasing the level of destructibility.

Lesson 12 Presentation-Car and Truck Insurance
01:54

Complete this activity to see how making an insurance claim can affect your costs.

Lesson 12-Activity 2
1 page

Lesson 12-Activity 2 Solutions
1 page

This lesson describe ways to reduce the cost of auto insurance. In addition steps are identify as to what to do when an accident happens. A link is provided to find a professional in your area that can help search for auto insurance of best fit. Please visit www.knightsfm.ca to find an appropriate professionals. The author does not receive compensation from these professionals.

Lesson 12 Presentation-The Potential Cost of Adding
02:18

Complete this activity to further see how making a claim could increase your insurance costs.

Lesson 12-Activity 3
2 pages

Lesson 12-Activity 3 Solutions
2 pages

This lesson introduces house insurance and the cost to rebuild a home.

Lesson 12 Presentation-House Insurance
02:11

Complete this activity to see how fire may burn you.

Lesson 12-Activity 4
1 page

Lesson 12-Activity 4 Solutions
1 page

This lesson introduces theft insurance and the cost to replace personal items stolen.

Lesson 12 Presentation-Theft Insurance
02:17

Complete this activity to discover the probabilities of your good health.

Lesson 12-Activity 5
1 page

Lesson 12-Activity 5 Solutions
1 page

This lesson outlines how to:

  1. Discuss consequences of being under insured
  2. Describe how to reduce the cost of insurance
  3. Interpret information regarding owning and operating a vehicle.
Lesson 12 Recap
3 pages

After completing lesson 13 students should be able to a) identify the importance of risk management planning, b) explain the impact on individuals and families when faced with financial challenges due to death or illness, c) identify common employee benefits, d) describe how insurance and other risk management strategies protect against financial loss. Theses outcomes will help students better understand the importance of protecting the irreplaceables, their health.

Preview 00:55

This lesson introduces the probability of injury, illness, and death of 18 years event occurring. The lesson also shows the difference in probability between smokers and nonsmokers experiencing injury, illness, and death by age 65. Several link are provided to find a professional in your area that can help search for disability and critical illness insurance. Please visit www.knightsfm.ca to find an appropriate professionals. The author does receive compensation from these professionals.

Lesson 13 Presentation-Protecting Life and Health
03:16

Complete this activity to discover the probabilities of your good health.

Lesson 13-Activity 6
1 page

Lesson 13-Activity 6 Solutions
1 page

This lesson focuses on the potential financial repercussions of not having enough or any life insurance in place. Some long term consequences are identified.

Lesson 13 Presentation-Life Insurance
02:08

Complete this activity to discover the cost of not having life insurance. In addition to the exercises a link is provided to help calculate the potential amount of life insurance required (http://www.foresters.com/ca-en/tools/pages/life-insurance-needs-calculator.aspx#.VQcrrtLF_Ak).

Lesson 13-Activity 7
2 pages

Lesson 13-Activity 7 Solutions
3 pages

This lesson introduces health insurance and provides an example of its use.

Lesson 13 Presentation-Health Insurance
01:59

Complete this activity to see how breaking leg can really add up. Several link are provided to find a professional in your area that can help search for personal health and dental insurance quotes and group insurance/savings program. Please visit www.knightsfm.ca to find an appropriate professionals. The author does receive compensation from these professionals.

Lesson 13-Activity 8
1 page

Lesson 13-Activity 8 Solutions
1 page

This lesson outlines how to:

  1. Explain the impact on individuals and families when faced with financial challenges due to death or illness
  2. Describe how insurance and other risk management strategies protect against financial loss
  3. Identify common employee benefits
  4. Describe how insurance and other risk management strategies protect against financial loss
Lesson 13 Recap
4 pages
+
Building Wealth
86 Lectures 01:28:57

Putting strategies in motion to pay the financial cost of long term goals requires lots of planning. After completing the Building Wealth section students will:

  • Understand how to build wealth through multiple streams of cash flow.
  • Discover the basics of beginning and running a business.
  • Identify basic opportunities to generate cash flow from owning real estate.
  • Learn the basic to investing in paper assets and strategies to match risk and reward.
  • Discover methods for organizing their finances.
Preview 01:50

After completing lesson 14 students should be able to a) analyze the power of compound interest and importance of starting early in implementing a financial plan, b) describe the concept of the time value of money, c) realte financial resources needed for specific retirmeent life styles, d) identify strageies for investing. Theses outcomes will help students be more efficent and building wealth.

Preview 00:53

This lesson provides an introduction to wealth. Wealth is briefly explored with respect to relationships, creatives, personal, and financial aspect.

Lesson 14 Presentation-Wealth 101
02:36

Complete this activity to see how much wealth you really have.

Lesson 14-Activity 1
1 page

Lesson 14-Activity 1 Solutions
1 page

This lesson begins outlining the concept of retirement. Financial independence is introduced as not age depended.

Preview 02:09

Complete this activity to discover what financial wealth means to you. Several link are provided to indicate charities I support; Third Academy (http://thirdacademy.ca), Woman in Need (http://www.womeninneed.net/), and Sunshine Foundation (http://www.sunshine.ca/who-we-are/history-mission).

Preview 1 page

Lesson 14-Activity 2 Solutions
1 page

This lesson focuses on compound interest, without mentioning it, by way of The Rule of 72. Albert Einstein's discovery is used to show how time and money can work together to help achieve financial goals.


Lesson 14 Presentation-Rule of 72
04:21

Complete this activity to see further understand how to apply the rule of 72.

Lesson 14-Activity 3
1 page

Lesson 14-Activity 3 Solutions
1 page

This lesson again shows how the Rule of 72 can be used to help build financial wealth.

Lesson 14 Presentation-The Power of Time
02:41

Complete this activity to understand the power of time and the rule of 72.

Lesson 14-Activity 4
2 pages

Lesson 14-Activity 4 Solutions
1 page

This lesson introduces passive cash flow from business, rental property, and paper assets as a way to fund retirement or allow financial independence.

Lesson 14 Presentation-Building Financial Wealth
03:05

Complete this activity to further identify cash flow generating machines.

Lesson 14-Activity 5
1 page

Lesson 14-Activity 5 Solutions
1 page

This lesson outlines how to:

  1. Relate financial resources needed for specific retirement lifestyles.
  2. Identify strategies for investing
  3. Analyze the power of compound interest and the importance of starting early in implementing a financial plan
Lesson 14 Recap
2 pages

After completing lesson 15 students should be able to a) idenfity opportunities of entreprunalship and self employment, b) identify sources of income or revenue. Theses outcomes will help students better understand how to generate cash flow from a business.

Preview 00:33

This lesson provides an introduction to entrepreneurship and starting a business. A short list of businesses is provided to enable students to begin matching skills set.

Lesson 15 Presentation-Starting a Business
05:13

Complete this activity to uncover entrepreneurial potential.

Lesson 15-Activity 6
3 pages

Lesson 15-Activity 6 Solutions
2 pages

This lesson provides a default calendar to help organize roles as marketer, salespeople, service people, and Chief Financial Officer. Several links are provided to offer further information regarding networking operations SOHO--Small Office Home Office (http://soho.ca/) and BNI--Business Networking International (http://www.bnicanada.ca/). The author does not receive compensation for promoting these sites.

Lesson 15 Presentation-Running a Business
07:45

Complete this activity to see how a default calander helps you stay organized.

Lesson 15-Activity 7
3 pages

Lesson 15-Activity 7 Solutions
2 pages

This lesson outlines how to:

  1. Identify opportunities of entrepreneurship and self-employment
  2. Identify sources of income
Lesson 15 Recap
2 pages

After completing lesson 16 students should be able to a) describe ways to increase asset values by reducing borrowing cost, b) discuss choices of purchasing finaicla assets to achieve goals. Theses outcomes will help students better understand how to generate a cash flow from real estate.

Preview 00:43

This lesson briefly introduces some costs associated with owning real estate. This lesson also looks at the potential future value of home ownership.

Lesson 16 Presentation-Personal Property
02:37

Complete this activity to learn ways to minimize costs of owning property. In addition, a link is provided offering help in finding a professional in your area that can help find a house or condo. Please visit www.knightsfm.ca to find appropriate professionals. The author does not receive compensation from these professionals.

Lesson 16-Activity 8
2 pages

Lesson 16-Activity 8 Solutions
2 pages

This lesson discusses how to reduce the cost of owning a home. Reducing borrowing costs of mortgages is introduced.

Lesson 16 Presentation-More Personal Property
01:59

Complete this activity to discover how important it is to negotiate.

Lesson 16-Activity 9
2 pages

Lesson 16-Activity 9 Solutions
2 pages

This lesson further investigates how to reduce the cost of owning a home. Through renting out all or part of the property can be a way to provide passive cash flow to be used else where to build financial wealth.

Lesson 16 Presentation-Rental Property
01:43

Complete this activity to identify ways to generate cash inflow with renting out part of your house.

Lesson 16-Activity 10
1 page

Lesson 16-Activity 10 Solutions
2 pages

This lesson outlines how to:

  1. Describe ways to increase asset values by reducing borrowing cost
  2. Discuss choices of purchasing financial assets to achieve goals
Lesson 16 Recap
2 pages

After completing lesson 17 students should be able to a) describe the concept of the time value of money, b) analyze the relationship between risk and reward, c) explain the effects inflation has on savings and investments, d) identify the affect inflation has on the cost of living. These outcomes will help students better understand how to potentially generate cash flow from paper assets.

Preview 01:02

This lesson begins to explore the idea of generating passive cash by investing in stock and bonds. Paper Asset classes are introduced as a way to help identify levels of risk.

Preview 04:42

Complete this activity to further understand the major classes of paper assets.

Lesson 17-Activity 11
3 pages

Lesson 17-Activity 11 Solutions
3 pages

This lesson introduces the effect that; increasing rate of return, increasing saving amounts, and diversifying risk has on the potential future of investments. The lesson proposes that investments (long term goals) needs to out pace inflation.

Lesson 17 Presentation-Rates of Return
02:04

Complete this activity to identify how rates of return can be used to manage expectations.

Lesson 17-Activity 12
2 pages

Lesson 17-Activity 12 Solutions
2 pages

This lesson outlines how to:

  1. Explain the effects inflation has on savings and investments
  2. Identify the affect inflation has on the cost of living
  3. Analyze the relationship between risk and reward
Lesson 17 Recap
3 pages

After completing lesson 18 students should be able to a) demonstrate an understanding of effective investment list the advantages of designing and following a personal plan, b) compare short and long term investments, c) identify and explain types of investment vehicles. Theses outcomes will help students better understand how paper assets can be used to put money to work.

Preview 00:31

This lesson provides a brief overview of growing paper asset investments using bonds within the fixed income class.
Lesson 18 Presentation-Fixed Incomes (Bonds)
03:04

Complete this activity to further discover how the investing in bonds may provide a cash flow.

Lesson 18-Activity 13
1 page

Lesson 18-Activity 13 Solutions
1 page

This lesson provides another option to growing investments using Guaranteed Investment Certificated (GIC). A link is also provided in this lesson to further understand GIC (http://www.fcac-acfc.gc.ca/Eng/forConsumers/topics/yourRights/Pages/TermDepo-Dptsterm.aspx).

Lesson 18 Presentation-Fixed Income (G.I.C.)
02:15

Complete this activity to further understand how GIC's work..

Lesson 18-Activity 14
1 page

Lesson 18-Activity 14 Solutions
2 pages

This lesson provides a brief explanations as to how equities can be used to grow paper assets.

Lesson 18 Presentation-Taking Stock
03:07

Complete this activity to see how the concept of buy low and sell high is applied.

Lesson 18-Activity 15
1 page

Lesson 18-Activity 15 Solutions
1 page

After completing lesson 18 students should be able to a) demonstrate an understanding of effective investment list the advantages of designing and following a personal plan, b) compare short and long term investments, c) identify and explain types of investment vehicles. Theses outcomes will help students better understand how to invest in paper assets.

Preview 00:30

This lesson shows how to read a basic stock table. An example is provided to show how to apply the information to purchase a stock.

Lesson 19 Presentation-Reading About Stocks
04:15

Complete this activity to see how some stock charts can be interpreted.

Lesson 19-Activity 16
1 page

Lesson 19-Activity 16 Solutions
1 page

This lesson introduces stocks of companies that form subsets of the Canadian economy. The stocks of these companies are grouped together depending on the companies business.

Lesson 19 Presentation-Sector Stocks
01:59

Complete this activity to identify a broad range of stocks within the Canadian economy.

Lesson 19-Activity 17
1 page

Lesson 19-Activity 17 Solutions
1 page

This lesson offers another way of growing paper asset investments while reducing risk. Mutual funds are a way to limit the exposure to any one sector by allowing investments to be held in equities, fixed income and cash assets. In addition this lesson provides a link to look up how a particular fund Beutel Goodman Canadian Equity (http://quote.morningstar.ca/quicktakes/Fund/f_ca.aspx?t=F0CAN05OHQ&region=CAN&culture=en-CA) is currently doing.

Lesson 19 Presentation-Mutual Funds
03:30

Complete this activity to interpret information from a mutual fund fact sheet

Lesson 19-Activity 18
2 pages

Lesson 19-Activity 18 Solutions
1 page

This lesson further introduces mutual funds and their various types. An example of a mutual fund fact sheet is provided to help breakdown important investment facts. In addition this lesson provides a link to look up how a particular fund Beutel Goodman Canadian Equity (http://quote.morningstar.ca/quicktakes/Fund/f_ca.aspx?t=F0CAN05OHQ&region=CAN&culture=en-CA) is currently doing.

Lesson 19 Presentation-Mutual Fund Types
04:37

Complete this activity to further interpret information from a mutual fund fact sheet.

Lesson 19-Activity 19
2 pages

Lesson 19-Activity 19 Solutions
1 page

This lesson outlines how to:

  1. Demonstrates an understanding of effective investment practices
  2. Identify and explain types of investment vehicles
  3. Identify the affect inflation has on the cost of living
  4. Analyze the relationship between risk and reward
Lesson 18 and 19 Recap
3 pages

After completing lesson 20 students should be able to a) explain the components of a financial game plan, b) compare risk and reward for savings and investments, c) identify strategies for investing, d) describe appropriate financial products for achieving different financial goals. Theses outcomes will help students better determine how investments are performing by staying organized.

Lesson 20 By the End of This Lesson
00:43

This lesson provides an overview of how paper assets interact with registered (RRSP and TFSA) and non registered (Open) investment programs. Understanding the tax implication on investments will help determine which vehicle is best suited for which goal. In addition this lesson provides a link to further understand RRSP (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/rrsps-eng.html) and TFSA (http://www.cra-arc.gc.ca/tx/rgstrd/tfsa-celi/bt-eng.html).

Lesson 20 Presentation-Paper Asset Programs
05:16

Complete this activity to see an example of how purchasing paper asset investments within RRSP, TFSA, and Open can be done.

Lesson 20-Activity 20
2 pages

Lesson 20-Activity 20 Solutions
2 pages

This lesson provides a technique of allocating a fixed dollar amount to purchase investments on a regular schedule, regardless of the price of the shares (stocks) or units (mutual finds). When prices of each share or unit is high fewer shares or units are purchased and when prices of each share or unit is low then more shares or units are purchased. Dollar cost averaging works well in investment markets that has lots of fluctuattion.

Lesson 20 Presentation-Dollar Cost Averaging
04:02

Complete this activity to apply the concept of dollar cost averaging. A link is provided offering assistance in investment advice to two Canadian Companies; Portfolio Strategies Corporation (http://www.portfoliostrategies.ca/About-Us/index.php) and PPI Solutions (http://www.ppisolutions.ca/). These companies provide connections across Canada to independent retirement planning advisors that can provide personal assistance. The author may receive financial compensation for services provided by planning advisors. Finding the right retirement planning advisor requires research and interviewing and it is important to find the appropriate match.

Lesson 20-Activity 21
2 pages

Lesson 20-Activity 21 Solutions
1 page

This lesson identifies the importance of keeping track of how well investments perform a regular basis. Comparing an investment's rate of return is important to ensuring investment are keeping pace with expectations.

Lesson 20 Presentation-Determining Rates of Return
02:38

Complete this activity to discover a method for calculating rates of return.

Lesson 20-Activity 22
1 page

Lesson 20-Activity 22 Solutions
2 pages

This lesson offers an important way to monitor personal assets. Keeping track of how well assets are performing and how liabilities have been reduced is a quick way to determine if long term goals will be met. Whether the goals are to pay for retirement or to leave a legacy understanding personal net worth is crucial.

Lesson 20 Presentation-Measuring Wealth
02:57

Complete this activity to calculate personal net worth. A link is provided offering assistance in group retirement plans to two Canadian Companies; Portfolio Strategies Corporation (http://www.portfoliostrategies.ca/About-Us/index.php) and PPI Solutions (http://www.ppisolutions.ca/). These companies provide connections across Canada to independent retirement planning advisors that can provide personal assistance. The author may receive financial compensation for services provided by planning advisors. Finding the right group retirement planning advisor requires research and interviewing and it is important to find the appropriate match.

Lesson 20-Activity 23
3 pages

Lesson 20-Activity 23 Solutions
2 pages

This lesson offers a method to keeping everything financial in order. Whether organization is done electronically or with hard copies, knowing where things financial go will help us access records.

Lesson 20 Presentation-Be and Stay Organized
03:37

Complete this activity to identify ways to stay organized.

Lesson 20-Activity 24
1 page

Lesson 20-Activity 24 Solutions
1 page

This lesson outlines how to:

  1. Explain the components of a financial plan
  2. Identify strategies for investing
  3. Identify and explain types of investment vehicles
  4. Compare risk and reward for savings and investments
  5. Describe appropriate financial products for achieving different financial goals
Lesson 20 Recap
4 pages
About the Instructor
John Crosser
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Business Owner, Teacher, Investment and Insurance Agent

Throughout his extensive 24 year teaching career across the world, John Crosser, has noticed a common theme. Whether teens come from Canada, The US, Japan, Thailand, or The United Arab Emirates they have a lack of information available to them to learn the valuable techniques and skills of money management.

Combining John's teaching experience with 10 years of financial management experience his new workbook ASPiRE: A Financial Workbook for the Canadian Teen is a testament to his passion for helping teens and adults understand how to manage money. John believes that with proper financial education in goal setting, managing cash flow, controlling debt, protecting assets, building wealth, and leaving a legacy, individuals will be healthier and families will be stronger. John is a licensed mutual fund agent with Portfolio Strategies Corporation and an insurance agent with PPI Insurance Solutions.

John is the owner of Knights Financial Management, an independent financial service consulting company. John and his team use the ASPiRE workbook to provide financial wellness workshops for employees of the small and midsize companies. He resides in Calgary, Alberta with his wife and two daughters.