Evan Saugstad: Investing in life

FORT ST. JOHN, B.C. — Demonstrators demand more homes at “below market” rates, or in other words, heavily subsidized by the taxpayer; seniors demand government increase their pensions as life is no longer affordable; students demand government forgive their student loans so they can get on with life; and the list goes on and on.

What do these have in common besides the need for more money? Are they a realistic look at the current state of our economy and Canadians’ needs? Or are these cases of the squeaky wheels getting the grease, and when one yells loud enough, you make the news?

In today’s media, these are common and everyday headlines: people protesting that they can no longer afford to fund their own lifestyles. Are they real? Probably, but where did we go wrong, this being Canada, a country of opportunity and a land of plenty? Why is it that so many are demanding that they become wards of the government’s largess and no longer rely on their own ability to look after and meet their own needs?

Everyone has their own stories and their own reasons for running out of funds and needing more. Unfortunately, we don’t seem to hear the “how comes and whys” as their stories are about their needs and demands, and no one asks the questions as to why they got themselves into these predicaments to begin with. Are there lessons to be learned so our future generations do not end up in the same place with the same problems? I would certainly think so.

I was recently asked the hypothetical question; “If I could pass on one piece of advice to the next generations, what would that be?”

At first, I thought of dozens of things, but after some thinking of all the wonderful advice I received from my predecessors, I narrowed it down. These have stuck with me and helped shape my life and who I am today, and they started at an early age.

My parents’ duty was to prepare me for life, to prepare me for the good, the bad, and the ugly, and sometimes, these lessons were without notice. It was easy to remember why bedtime, eating time, bath time, and school time routines were important for my child’s development. Others were not always so obvious.

When I was 5 or 6, my maternal Grandmother opened a savings account at the Bella Coola Valley Credit Union for myself and my three brothers. Every month, Mom would put some of our/her Child’s Allowance cheques in each of our accounts. She also encouraged us to put our own money in and save for a “rainy” day. And that I did. Every time I received money for Christmas, birthday, or odd jobs, I would spend some and put the rest into my account. I was so proud to have my own account and my own money, even if it was a small amount. I have never made a withdrawal until my 14th birthday when I needed money to buy my first gun, which I still have.

As I got older, the savings accounts turned into investment accounts, and every month, I would put some of that money away for my rainy day, my retirement. It took a lifetime of hard work and a lifetime of savings, but I got here on my own accord, without the government’s help.

My advice is that moms and dads should do the same and encourage each of their children to save for their own rainy days. Teach them to put part of whatever money they receive into their own savings account, so they learn and understand the value of saving, and hope that they, too, learn and make it a lifelong habit. I also learned that it is a rare exception that one does not have any money to put aside, as if one looks hard enough, we seldom need everything we think we would like to have. The old saying that “money does not bring happiness” is partially correct, until we run out of money, then we understand that money sure does help.

Ok, but today is different. Costs have gone up, inflation has driven wages down, and people just cannot make enough to pay for the daily bills, let alone save a cent. Wrong, right, wrong, and wrong. Yes, there are exceptions for some, but the majority of Canadians can, if they so wish, select the choices that make their lives affordable and enjoyable.

It is all about critical thinking and making choices. Is life not affordable where you live, or does the occupation that selected you not pay your bills? Then make the choice and change, as there are lots of places and jobs in Canada that can make your life work.

Every day, for our entire lives, we will make choices. Some are automatic and no-brainers, while others can literally be about one’s own life or death. Every day, we will encounter a fork in the road, and one will take us on to a better life, the other less so. Teaching or learning and understanding how to use critical thinking in preparing oneself to make the correct decision for the circumstance is a skill that takes a long time to master. Some do it quicker than others, while some never do and have a lousy life as a result.

Start early by talking about the value of education. It is hard to believe that there are still parents out there who pooh-pooh education in general and actively encourage their children to just go get a job. It is just as important that when the children understand that they will continue with their education past high school, they make their own choices as to what that will be. Parents should be proud of whatever career their children select as long as they understand what that means and where it leads. It is ok to change careers and go back for more education as one gets older, but just remind them that the older one gets, the harder it becomes to have the finances and time to go back to school.

Ottawa and Victora’s current attempts to convince others that those with the financial well-being to look after themselves are somehow not part of their Canada are wrong. I, like most Canadians who have worked hard to ensure our own financial stability, am correct. Our country was built on the notion that government support came second to support oneself, and in the long run, that should not change.

This is Evan, and my best investment ever was putting that first dollar in my own savings account.