Summer Work for Students

Richard is his own guest yet again today as he discusses summer jobs for students, the financial
lessons they offer, and the prospect of such jobs in 2020 given the fallout from the pandemic. He
also explores the Canadian Emergency Student Benefit Program, its potential long-term
implications, and how to apply for it.

Download the full transcript here

Highlights:

– Student summer jobs offer many lessons, three of which Richard emphasizes with his children
– Pay yourself first and put that money away for a long term goal
– Learn to invest
– Become better at budgeting your expenses
– Any benefits the government offers to Canadians, such as the Canadian Emergency Student Benefit, may have long-term ramifications such as increasing taxes in the future, or even decreasing the amount of spending on programs that it is able to do in the future

Quotes:

“ I believe that summer work for students provides them an opportunity to learn some very valuable life lessons…pay yourself first, learn how to invest, and become better at budgeting expenses.”

“What I’d like her to consider is that this benefit is more of a loan rather than free money.”

“I think it’s just one more in a long series of major challenges that we are facing, but together I
think we can get through it.”