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Truth and Reconciliation Week: September 27 to October 1
Truth and Reconciliation Week is a 5-day national event that will continue and highlight the conversations around “Every Child Matters.” These conversations focus on Indigenous treaties, land claims and the legacy of residential schools.
In 2021, we have all gained a deeper understanding of the historic tragedy of residential schools in Canada. The discovery of the unmarked graves at the sites of former residential schools has opened the wounds that Indigenous Survivors their families and communities have endured. These discoveries have enlightened every culture: we are all learning and reflecting. Truth and Reconciliation Week, highlighted on Truth and Reconciliation Day, Thursday, September 30 is also known as Orange Shirt Day. This is a day to honour the children who attended residential schools and those who never returned to their families. The Survivors, their families and Indigenous Elders play a special role in telling the Truths and helping all of us to learn from those painful Truths.
“Truth and Reconciliation is important because it’s time that we hold Canada accountable for past actions taken against First Nations people. It brings a light to the terrible realities that First Nations people faced and were clearly not treated in Canadian history. To move forward as allies and equals, we must acknowledge and understand the past. There are still many injustices happening with First Nations people today and they will continue to happen unless we learn from our history.” Aaron Condo, Counsellor Gesgapegiag
Remembrance, an original painting by Mi’gmaq artist Jessica Jerome – Gesgapegiag.
Jessica states, “Only through remembrance can we keep their spirits alive. -
Making Sense of Money
This 5-part series will provide some basics of money management. Over 5 articles, the topics to be covered will be:
- Terms
- Budgeting Basics
- Borrowing
- Saving
- Mortgages
Terms
If you are “making sense of money” it is important to know the language of money
Inflation: Inflation refers to how prices rise over a certain period of time. If it is a time of high inflation that means that your money will not buy as much as it did before.
Tax: A portion of money that is taken by the government to pay for government services. This can be from income, goods and services, property you own and more.
Investment: Using your money to make additional money.
Inheritance: Money or property that is passed from one person to another on the owner’s death.
Net worth: Your net worth are all your assets. Your assets are anything you own that has financial value. This includes money you have saved, your vehicle, your home and any investments you have. However, you will have to subtract from your net worth any money you owe.
Mutual Fund: A mutual fund is all your investments that are managed by an investment company. This company will buy and sell bonds, stocks and any other assets on your behalf.
Share: Each unit of stock is called a share.
Bear market: During a bear market, not a good thing, it means that the market to invest is not strong and the value of the stock market goes down.
Bull Market: This describes when the stock market is rising, or about to rise. When this happens people and companies tend to invest more. This is good because it is a sign that the economy is improving.
Prime Rate: This refers to the basic interest rate that banks (and other lending institutions) use to set their interest rates. If you take a loan with a variable rate, this means that the amount of interest you owe will vary (go up and down) when the prime rate changes.
Principal: This most commonly means the original amount of money borrowed for a loan OR placed into an investment.
Compound Interest: Compound interest is the interest that you pay on … interest. For example, if you borrow $1,000 and the interest rate is 10% the amount you then owe is $1,100. Over time you will owe more money on that additional 10%! Compound interest can be a good thing when your money is earning money, such as money you have in the bank or money you have invested!
Annuity: This refers to a sum of money that you are paid regularly after you have made a long-term investment. If you have a company pension, for years you paid into that pension plan and when you retire your plan pays you a sum, usually monthly. This is a type of annuity.
“Never spend your money before you have earned it.”