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The Basics of Personal Finance for Young People/Phone In: Managing Your Money

Mounting Debt, Bigger Burdens: How many sleepless nights and family tensions have been sparked by money problems ? It's usually the old story of not enough revenue coming in to cover the monthly bills. But how many of us would have avoided falling into those holes if only we'd learned the basics of personal finance - especially before we left the comfortable place where mum & dad covered real-world expenses ? Charles Ackerman realised that most teens have no idea of concepts like debt and credit, or the importance of saving or living within their means. So he decided to do something about it. Charles has just finished his second year in business at St Mary's University. He got involved with an organization called Students in Free Enterprise, and together, they developed a nuts and bolts workshop called "Dollar And A Dream" which they first delivered to at-risk youth and then, for students in the public high school system.

We also checked in with a teacher and a student who took part in the Dollar and a Dream workshop: Brad Boudreau teaches entrepreneurship at CPAllen High School in Bedford, and Greg Dobson is a grade 12 student.

On the phone in, our guest was John Eisner, the President of Credit Counselling Services of Atlantic Canada Ltd. He answered all your questions about managing your money.

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