Great Canadian Piggybank

The financial world our teens are entering looks nothing like the one we grew up in.
From one-click buying and buy-now-pay-later to housing anxiety and constant social comparison, today’s kids face money pressures we never had.

In this episode, Christi Rae is joined by Rob Carrick, longtime personal finance columnist at The Globe and Mail and co-host of The Stress Test podcast, to unpack what’s changed—and what still matters. Drawing on more than 30 years of financial journalism (and parenting), Rob explains why old money rules don’t always apply, how friction-free spending is reshaping behaviour, and why parents shouldn’t feel guilty for helping their kids financially in today’s economy.

Together, they explore:

• Why one-click buying and buy-now-pay-later make budgeting harder for teens
• How parents can talk honestly about money mistakes without shame
• What saving should look like for teens (and what it shouldn’t)
• Rethinking home ownership, renting, and “success” in Canada today
• Simple questions that open meaningful money conversations at home

This episode is for parents who want to raise financially confident teens—without fear, guilt, or outdated advice.

Show Links:

Website: https://robcarrick.ca/

Substack:https://robcarrickpf.substack.com/

StressTest Podcast: Stress Test

Facebook: https://www.facebook.com/profile.php?id=100000463112714

Chapters List:

00:47 Biggest Shift

03:49 Parental Guilt

05:19 Helping Out Financially

07:03 Keeping Kid's Grit

09:21 Modern Update to 10% Rule

12:47 Habit of Saving

12:58 Moneys Skills that Matter

14:11 Housing Alternatives

16:43 Simplest First Step

18:23 High Risk Investing

19:36 One Question to Ask Tonight

20:56 Takeaways

How Teens Build Credit in Canada: Credit Cards, Buy Now Pay Later, and Common Mistakes

Credit can shape your teen’s financial future long before adulthood, sometimes without parents even realizing it. In this episode of The Great Canadian Piggy Bank, host Christi Rae is joined by Barry Choi, founder of Money We Have and a regular contributor to The Globe and Mail, to break down how teens actually build credit in Canada today.

We cover how supplementary credit cards work, when teens should get a credit card in their own name, and why buy now, pay later options like Klarna and Afterpay are becoming a hidden risk for young people. Barry explains the most common credit mistakes teens and young adults make, why obsessing over a perfect credit score isn’t helpful, and how parents can teach responsible credit habits without fear or shame.

If you’re raising a teen in Canada, this episode will help you turn credit into a practical life skill, not a financial landmine.

Show Links:

Website: ⁠https://www.moneywehave.com/⁠

Instagram: ⁠https://www.instagram.com/barry_choi⁠

Facebook: ⁠https://www.facebook.com/moneywehave⁠

Youtube: ⁠https://www.youtube.com/@BarryChoi/shorts⁠

TikTok: ⁠https://www.tiktok.com/@barry_choi⁠

Chapter List:

00:00 Building Credit

01:30 Credit Basics

02:03 How is Credit Different Today?

02:52 How to Build Credit

04:45 When to Obtain a Credit Card

05:24 Buy Now, Pay Later Options

08:40 Common Credit Mistakes

09:29 Credit Scores

10:48 When to CoSign

12:43 TakeAways

Is social media shaping how your child views money and making them feel like they never have enough? In this episode of The Great Canadian Piggy Bank, host Christi Rae explores money dysmorphia, a growing issue affecting kids and teens whose perception of wealth is distorted by constant online comparison.

Joined by David Delisle, author of The Golden Quest and creator of The Awesome Stuff, Christi breaks down how social media influences children’s money mindset, why comparison culture fuels financial anxiety, and how parents can spot early signs of unhealthy money beliefs in their kids.

You’ll learn practical tools for teaching kids healthy financial habits, including how to shift money conversations away from guilt, pressure, and power struggles. David introduces a simple question: “Is this your awesome stuff?” , that helps children connect spending decisions to their values, experiences, and what truly brings them joy.

This episode is ideal for parents looking for realistic, age-appropriate ways to talk to kids about money, navigate social media’s impact on finances, and raise money-smart children in a world where “more” always seems better.

Show Links for David Delisle:

Website: http://www.theawesomestuff.com/

Youtube: https://www.youtube.com/@theawesomestuff

Instagram: https://www.instagram.com/theawesomestuff

Facebook: https://www.facebook.com/OnlyBuyTheAwesomeStuff

TikTok: https://www.tiktok.com/@theawesomestuff

TedX Speech: https://www.youtube.com/watch?v=EG8V8UIXXQM

The Golden Quest Book: https://www.amazon.ca/Golden-Quest-Your-Journey-Rich/dp/1777718929

Chapters List:

00:00 What is Money Dysmorphia

02:30 The Impact of Social Media on Perception

05:16 Recognizing Signs of Money Dysmorphia

06:50 The Awesome Stuff Movement

10:23 Experiences vs. Material Goods

13:21 Mindful Spending and Parenting Strategies

15:01 Encouraging Autonomy in Financial Decisions

16:26 Defining Awesome Stuff for Kids

17:51 Engaging Conversations About Money

19:02 Money Dysmorphia Summary

Season 2 of The Great Canadian Piggy Bank gets practical.
Christi Rae helps Canadian parents understand the money topics many families avoid — from estate planning and building credit, to RRSPs, TFSAs, and FHSAs.

Through thoughtful conversations with trusted voices in Canadian personal finance, such as Rob Carrick, Preet Banerjee and Barry Choi, we get clear, real-life explanations. This season also explores the emotional side of money, including family expectations, guilt, and responsibility — especially for first-generation Canadians.

If you’re trying to teach your kids about money, you’re in the right place.

In this 2025 wrap-up episode of Season 1 of The Great Canadian Piggy Bank, host Christi Rae shares the seven biggest money lessons she’s learned from a year of conversations with financial experts.

From breaking the silence around money and understanding your child’s money personality, to using allowance as a learning tool and teaching needs versus wants through real-life trade-offs, this episode focuses on practical, everyday ways parents can teach financial literacy.

If you’re looking to raise money-smart kids without lectures or stress, this episode will help you feel more confident, intentional, and supported.

2025 Expert Guest Links:

Jessica Moorhouse: ⁠https://jessicamoorhouse.com/⁠

Bruce Sellery: Moolala Podcast

Joline Godfrey: https://www.bounce-10.com⁠

Douglas Price: Seventeen to Millionaire⁠

Shannon Lee Simmons: https://www.newschooloffinance.com/

Dan Bortolloti: ⁠https://rationalreminder.ca

⁠Robin Taub: https://www.thewisestinvestment.com/

Melissa Leong: ⁠https://www.melissaleong.com/

Karen Holland: https://giftingsense.org/

Richard Coffin: https://www.youtube.com/@theplainbagel

Kornel Szrejber: https://www.youtube.com/@BuildWealthCanadaShow

Nejeed Kassam: ⁠https://www.copi.money/

Lesley-Anne Scorgie: https://www.mevest.ca

Chapters List:

00:00 Introduction to Money Conversations

00:33 Lesson 1: Talk about Money

01:22 Lesson 2: Understand their Money Personality

02:12 Lesson 3: Family Values

02:30 Lesson 4: Delayed Gratification

02:57 Lesson 5: Allowance is a Tool

03:24 Lesson 6: Needs vs Wants

04:17 Lesson 7: You are the Boss of your Money

In this short holiday episode, I share what I’m doing differently with money this year — not as advice, but as a real-life experiment in our own family.

Based on everything I’ve learned so far from this podcast, I walk through four simple ways we’re approaching the holidays with less stress and more intention:

1) using the DIMS score for big-ticket gifts,

2) prioritizing low-cost experience gifts,

3) giving my daughter full responsibility for buying our gifts with a set budget,

4) creating a “do list” instead of a “buy list.”

This episode is for Canadian parents who want to teach their kids about money, budgeting, and values during the holidays — without turning money into a source of anxiety or taking away the magic.

Show Links:

Free DIMS Score Tool: https://giftingsense.org/

Christi sits down with Melissa Leong—author of Happy Go Money—to explore the emotional side of teaching kids about money. We dig into why your child’s relationship with money is shaped less by allowance and more by the everyday stress, habits, and conversations at home.

What we cover:

- The first money lessons every child should learn before age 12

- Simple habits for ages 3–5, 6–9, and 10–12

- How to talk about money without guilt or anxiety

- Connecting money to happiness (not stress or stuff)

- The one skill to model when life is chaotic

Why it matters:

- Kids absorb how we talk about money—and how we react to it.

- You don’t need perfect finances to raise money-smart kids.

- Money skills and happiness skills grow together.

Show Links:

https://www.melissaleong.com/

Chapters List:

00:00 The Emotional Side of Money

02:16 Understanding Money and Happiness

05:40 Age 5: Trade offs

06:36 Age 6-9: Delaying Gratification and Decision Making

09:05 Age 10-12: Practice Opportunities

10:58 Common Mistakes in Teaching Budgeting

13:03 Emotional Intelligence and Money Management

14:55 Building a Money Personality

15:40 Creating Memorable Experiences with Money

16:56 Modeling Calm Transparency in Money Matters

19:17 Neutral Money Conversations for a Calmer Home

21:23 My Takeaways

In this holiday episode, Christi Rae sits down with Karen Holland, founder of Gifting Sense, to explore how gift-giving can become one of the most powerful money-teaching moments of the year. Instead of getting swept up in holiday spending pressure, Karen shows parents how a simple habit, pausing, gathering information, and reflecting, can help kids make smarter choices, avoid disappointment, and develop lifelong financial confidence.

We cover:

- How to talk to kids about gifts without saying “no” all the time

- The Does It Make Sense? framework and why it works

- Teaching kids to consider cost, value, and usage

- Reducing holiday overwhelm and overspending

- Building family traditions that focus on connection, not stuff

Show Links:

Take the DIMS test: https://giftingsense.org/

Chapters:

00:00 Introduction to Mindful Gift Giving

01:52 Challenges in Gift Giving

03:56 23B in Unredeemed Gift Cards in the US

06:23 Introducing the DIMS Score Calculator

08:45 How to Use the DIMS Score

10:31 Applying Mindful Spending to All Purchases

13:34 Engaging Grandparents in Thoughtful Gift Giving

14:41 Building Confidence Through Financial Literacy

14:51 The Importance of Early Financial Education

16:46 Do Kids Really Enjoy Doing the DIMS Score?

18:54 One Small Change You Can Make This Holiday Season

19:51 Where Should Parents Start?

Christi sits down with Richard Coffin, the creator of The Plain Bagel — to unpack the good, and the bad of TikTok “finfluencers.” Together, they break down how parents can help their kids navigate financial advice online without falling for scams, hype, or bad information.

Richard explains why kids are drawn to money content, what red flags to watch for, and simple tools families can use to verify whether an influencer is trustworthy.

What we cover:

- Why TikTok finance content can feel so engaging

- The biggest red flags that signal misleading financial advice

- How to tell whether an influencer is qualified to give advice

- Simple, fast ways to fact-check financial claims with your kid

- The surprising reason many trustworthy creators have fewer followers

- What parents can do this week to help their kids build real financial literacy

Show Links:

The Plain Bagel:

Youtube: https://www.youtube.com/@theplainbagel

X:  @The_Plain_Bagel

Recommended FinFluencers:- https://www.youtube.com/@theplainbagel- https://www.youtube.com/@TwoCentsPBS- https://rationalreminder.ca/- https://www.youtube.com/@BenFelixCSI- https://www.youtube.com/@PBoyle- https://www.youtube.com/@MoneyMacro- https://www.youtube.com/@AswathDamodaranONValuation

Free Financial Classes:- https://pages.stern.nyu.edu/~adamodar/- https://uwaterloo.ca/school-of-accounting-and-finance/teachers-and-guidance-counsellors/financial-literacy-classroom

Professional Accreditation Check:

CFA: https://directory.cfainstitute.org/

CFP: https://www.fpcanada.ca/planner-directory

Registered Financial Advisors: https://info.securities-administrators.ca/nrsmobile/nrssearch.aspx

Chapters:

00:00 Introduction to TikTok Money Advice

01:49 The Dangers of Bad Financial Advice

03:43 Why Aren't There Regulations in Online Financial Advice?

05:05 Common Misleading Financial Advice

06:30 Red Flags in Financial Advice

11:47 Good Online Creators

13:06 Advice for Young Investors in a Noisy Market

16:11 One Piece of Advice to Parents to Help Avoid Scams

18:11 90% of benefits comes from 1st 10% of effort

Allowance isn’t just pocket money, it’s one of the best ways to teach kids real-world money skills. In this episode, Christi sits down with Robin Taub, author of The Wisest Investment, to talk about how parents can use allowance as a practical tool for raising financially confident kids.

You’ll learn:

- Why allowance matters and how it helps kids learn responsibility, independence, and decision-making.

- Ages 5–8: How to introduce allowance and simple lessons about earning, saving, and spending.

- Ages 9–12: How to evolve allowance as kids start setting goals and managing bigger spending decisions.

- Ages 13–17: How to use allowance to teach budgeting, smart spending, and preparing for financial independence.

- How to avoid common allowance pitfalls — and keep money conversations positive, not stressful.

Whether you’re just starting out or rethinking your family’s approach, this episode will give you the tools to turn allowance into your child’s first — and wisest — investment.

Show Links:

https://www.thewisestinvestment.com/

https://robintaub.com/

https://www.instagram.com/robin.taub/

https://www.facebook.com/RobinTaubFinancialConsulting

https://www.linkedin.com/in/robintaub/

Chapters:

00:00 The Power of Allowance

02:37 Should Allowance Be Tied to Chores?

04:20 Determining Allowance Amounts

06:05 What If Families Can't Afford an Allowance?

07:11 Digital vs. Cash Allowance

09:47 Starting Allowance: Age and Method

11:50 Stop Allowance When Teen Gets a Job?

12:56 Shifting from Allowance to Budgeting

14:03 Aligning Financial Personalities with Values

17:33 One Step to Take this Week