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Welcome to the Globe and Mail Personal Finance Reader. I'm Rob Carrick, personal finance columnist at The Globe, and twice weekly I compile a list of articles, blog postings, videos and websites that represent the best of what the online world has to offer on money-related subjects.
There are two aspects to the back-to-school spend-a-thon, one being all the money parents have to lay out. The other is the growing sense that kids need to learn more about managing money. With all the money being spent in the weeks before students return to school, it's an ideal time to think about grounding your kids in the financial world.
This back-to-school edition of the Reader will get you started with a calculator that helps parents decide how much to give their kids as an allowance. There are also some suggestions on money lessons that can be taught through back-to-school shopping, a budgeting spreadsheet for older students and a look at top electronic gadgets for students.
You'll also find the usual investing commentary, including a discussion on the merits and risks of borrowing to invest and a look at how hedge funds are buying gold as an inflation hedge.
Found something on the Internet that your fellow investors might enjoy? Talk to me at rcarrick@globeandmail.com.
If you're having trouble reading this e-mail, try viewing the Reader online.
From The Globe and Mail
Wondering where to get a student loan and how much to borrow? Find out in this Let's Talk Investing video.
If you're buying or selling a home, it's a good idea to educate yourself on the seven must-have real estate contract conditions.
If you live in Ontario, you're likely feeling the heat of the new time-of-use billing system. Regardless of where you live, it's always a good time to reduce your energy consumption.
Every family needs a chief financial officer, according to author Scott Feher. Find out how to get your family on board with your financial plan.
Must Reads From Around the Web
How Much Allowance?
If you can remember how much you received as an allowance when you were a kid, this calculator will help you translate that into an appropriate amount for you own children. It's offered by ThreeJars.com, an online service that helps parents teach their kids how to manage money.
A Teachable Moment
How back-to-school shopping can teach your kids lessons about managing money.
Money Savers
I particularly like one tip on this list of suggestions for quelling back to school spending - don't buy everything on the teacher's list. Some stuff's essential, some stuff is just the school on a fishing expedition.
Track Your Spending
A downloadable student budget planner from the Squawkfox blog.
Gadget Alert
Top tech gadgets for students, as chosen by the editors of the very good tech website cnet.com.
Tech toys that teachers will be taking into the classroom with them this fall.
Those Helpful Banks
Each of the Big Five banks has a webpage that provides details on student banking packages - no service fees is the big attraction - and miscellaneous money management tips. If your family deals with a particular bank, see if its student package measures up:
The Canadian Bankers Association has created the YourMoney website to improve financial literacy among young people.
Investorama
As the great inflation vs. deflation debate rages on, hedge funds are buying gold as an inflation hedge.
Two investment industry executives face off on the controversial topic of leveraging, or borrowing money to invest. My take is that leveraging can make theoretical sense in some cases, but it's recommended too often as a way for investment advisers to generate big commissions and fees.
The growing aversion to stocks among everyday investors has made the front of the Sunday New York Times.
A contrarian financial bloggers' take on the New York Times article.
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