Kyle Berdusco Teacher
We are pleased to have Kyle Berdusco, teacher and new dad share with us some of his “First” childhood money memories.
Welcome and thank you Kyle!
In His Own Words – About Kyle
Hi! My name is Kyle, I’m a new dad to a 1 year old, have a fiancé and a small chihuahua-poodle mix named Zeus – who lives up to his name! He’s a fiery little pup! That’s my family. I enjoy fitness, sports and home renovations when I’m not playing with my little munchkins!
I grew up in a suburb of Vancouver, Canada and had a childhood filled with playing outdoors around the neighborhood. Sports was always a favorite activity.
I have been a Secondary School Business Teacher in Surrey, BC, Canada for over a decade. Empowering students with financial literacy has been a main passion for Kyle.
I also work as a Carpenter’s Helper on construction renovations in the summer and am a Cryptocurrency Consultant at Evos Blockchain Consulting.
A Couple of First Money Memories
One of my first memories about money was when my dad took me to the bank and got me a bank account which came with a ‘Balance book’! It was a small ledger that the bank tellers would stamp with your transactions. I had to keep it safe and take the responsibility seriously!
My first experience with my own money was when I got my first job in grade 5 delivering Newspapers! My route was 68 houses – and I lived on a hill! Twice a week I delivered papers. I was paid each month with a cheque. For years I just saved all the money I made and did not spend any of it!
The experience delivering Newspapers instilled a work ethic in me that continues to this day! The sense of accomplishment, reward and responsibility led me to find part time jobs in my late teens as a grocery stock clerk, summer camp leader, warehouse stocker, and youth recreation leader. I’ve always worked multiple jobs and still do!
The other powerful memory I have was my uncle bought me a stock of the company Disney. It came with an official certificate, and I received a dividend 4 times every year which was usually only about one dollar or less. Despite the money being very small, I remember learning how dividends worked and thinking it was a cool concept.
Looking back, I can honestly say I have not made many mistakes with the money I earned! I was taught to not buy things that were overvalued or would leave you with nothing to show for – great advice.
The only thing I wish I had done was INVEST earlier and often! I think a lot of us wish this!
I strongly believe financial literacy is one of the most important life skills a person can know.
One Money Habit
If I could only teach a child one money habit it would be… (this is tough to choose just one! There are so many things!)
I think it would be to work hard.
Whether you spend, save or invest your money from your hard work – the feeling of accomplishment that comes from working hard and earning your own money is powerful.
“Fortune favors the bold.”
To me, half of being ‘bold’ means to work hard for what you want and tenaciously going after it!
Thoughts on Financial Literacy in Schools
Kids should absolutely be taught financial literacy. 100%.
As a Business electives teacher, I always include a unit about personal finance in every class I teach. So it is being taught in school – but should be standard for kids everywhere!
Thoughts on Debt and Credit
A lot of adults struggle to use debt wisely – so kids should be extra cautious!
However I strongly believe in educating kids about what debt is and how it can work both in your favor, and against you.
Looking back on my University experience I could have taken on more student debt instead of overworking myself to pay for tuition and feeling burned out! Student debt interest does not begin until you graduate where I live and the interest was really small (less than 1% at the time).
Credit cards are another debt tool that a lot of adults struggle with – but Credit Cards can be great tools that actually work to your advantage. Knowledge (and slow, steady experience and practice) is key here!
Favorite Financial Education Resources and Quotes
Some of my favorite resources to learn about personal finance are not conventional.
The internet has a lot of voices – some better than others. Use a critical eye with anything you read!
A few quotes that stick out are:
“Fortune favors the Bold,” – you have to work hard;
“No one wants to get you rich,” – if it sounds too good or too easy, it likely is a scam or someone trying to take advantage of you, because no one wants to make you rich because they are just nice! Be critical of everyone’s motivations and keep your wits about you.
“You earn what you learn,” knowledge is power – so it’s so crucial to always be curious and keep learning.
Finally, “Always sleep on a big decision,” I think this is the best advice I’ve received. Even in matters of life that are not financial it’s great practice to wait, go home, and sleep before making any big decision. This lets you consider the decision, talk to people you trust to help, and make sure you feel the same way the next day. Never feel pressured into making a big decision on the spot!
Personal Finance Heroes
Some personal financial heroes are Cathie Wood, Michael Saylor, Michael Burry, Elon Musk, and – of course – Satoshi Nakamoto!
Lastly, I’ll highlight two things to end with.
First, always keep learning. Keep an open mind and expand your network of people who you can learn from.
Secondly and lastly, ‘Birds of a feather flock together’ – make sure to surround yourself with likeminded people who are positive and find solutions.
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