Whether you’ve just arrived or are planning to move to Canada, navigating the Canadian banking system on your own can be challenging. For newcomer parents, you’re most likely trying to seek financial advice on how to open the proper bank accounts and start investing to reach your savings goals, such as buying your first home or sending your kids off to college or university someday.  When you’re adjusting to living in a new country, understanding the various financial products can be quite confusing. Fortunately, we’re here to help newcomer families understand some common financial produc ..read more

The number of things we currently learn about from TikTok is wild. From curing the hiccups to making the ultimate vegan nachos perfecting a go-to photo pose, TikTok has an answer or an opinion on nearly every topic. Want to find out what’s in elephant toothpaste? TikTok is your platform. Need to figure out how to make your money go further and meet your savings goals? TikTok has you covered. And while advice that you find on the app is probably worth fact-checking (especially financial advice), the 2024 TikTok loud budgeting trend is one that’s worth some extra attention. Read more: How to mak ..read more

We know you have a bright future ahead of you. Whether it’s going to post-secondary school, living on your own, or following your career ambitions.  But what you might not know is that having a good credit score may be essential when it comes to getting a car loan, being offered a job or renting an apartment when you’re ready to leave home. Here we’ll explain what a credit score is, why it’s important and the steps you can take as a teen to build a good credit score in Canada. What is a credit score? A credit score is a three-digit number that lenders use to assess how reliable an individ ..read more

Navigating how to spend money wisely is no easy feat for teens. From keeping up with the latest fashion trends to buying the must-have TikTok dupe, to watching the latest blockbuster movie with friends, teens face many choices when it comes to managing their money.  So, how can they figure out if their spending is bringing them joy and meaning? Here are some tips on how teens can determine if their values align with their spending habits. What is value-driven spending?  Whether your kids know it or not, everyone has their own set of money values which informs their spending. Value-ba ..read more

“You spent all your birthday money on what, now?” If you’ve got a child with Attention Deficit Hyperactivity Disorder (ADHD), or suspect you might, chances are you’ve felt a mix of compassion and frustration when it comes to watching them plan for or manage their resources. Teens with ADHD overestimate how much money or time they have, and often make quick choices without thinking through their long-term impacts fully. While as parents, we know our goal is to raise functioning, productive adults, raising a kid with ADHD or ADD tends to have unique considerations. Characterized by inattentivene ..read more

It’s Pride month in Canada which means everyone’s talking about diversity—and that’s something to celebrate. But it’s also a time to reflect on the unique circumstances of 2SLGBTIQ+* kids and teens, and to think about ways to improve their lived experiences. Whether we like to talk about it or not, that includes money matters, so we’re going to dig into six major financial considerations for queer and trans young people. 6 money-related issues for 2SLGBTIQ+ youth From home life to school life to work life, queer and trans young people may face specific challenges that can affect their financia ..read more

Introducing Mydoh by Me: Our personalized Smart Cash Card that lets your kids and teens express their personality while learning money smart skills! Read on to find out how kids can make Mydoh their own.  What is Mydoh By Me? Mydoh By Me is a customizable Smart Cash Card from Mydoh. It’s the same Mydoh Smart Cash Card you know and love, but now, kids (with the help of a parent) get to create a personalized card design by either uploading an image from their personal photos or from Mydoh’s photo gallery onto their cards. Mydoh By Me costs $6.99 for each customized card and can be ordered i ..read more

Money can sometimes be a source of stress and self-doubt for many of us. And families are already feeling stressed from rising costs due to inflation and an uncertain economic future. That’s why Mydoh wanted to take a pulse check on how Canadian parents feel about money and what they hope to teach their kids about financial literacy.  Curious to know how parents really feel about money? Mydoh commissioned Ledger to conduct an online survey of 1,500 parents of kids aged 6-18 across Canada, except for Quebec. Here’s what they had to say.   2022 financial literacy survey key findin ..read more

Let’s face it, your kids are regularly exposed to personal finance from a young age—whether they’re tucking away tooth fairy money or spending digital currency in the metaverse. It’s increasingly important to teach children and teens about financial literacy early, so they can build a solid foundation and be prepared to start spending and saving in real life.  Books about money can be a great way to help young readers to learn financial strategies at their own pace. Kids can grab books off the shelf (or download them) for fun, and come back to them time and again as they grow or have new ..read more

Managing family finances can be among the most challenging aspects of parenting, and for single parents, sharing the financial obligations of raising kids with your ex can be even tougher. How co-parents manage the shared costs of raising kids can range from amicable and transparent to downright frustrating.  Wherever you are along the co-parenting spectrum, here we break down the challenges you may face, and offer tips on how to effectively share the financial responsibilities of raising your kids. We also spoke with certified life coach, Alicia Robertson, who coaches women through divor ..read more