Here’s today’s daily consumer news for October 3rd.
Parents and allowances
Teaching money skills to teens is an important job but a new study by the American Institute of CPA’s show that parents have a lot of work to do.
On average, parents give their kids an allowance of $30 a week, that's about $1500 dollars a year. But not surprisingly, only three per cent of parents surveyed said their kids were saving it. Instead they were spending it on digital services and downloads and going out with their friends.
“I think it does bring up the thought, there has to be a money conversation. You know, starting a budget, setting some goals that excite you, and you know, paying them to save,” said Pattie Lovett-Reid, CTV’s chief financial commentator. “At first blush it could seem counterintuitive, but it also encourages saving, because then you start to understand how money can make money and it can grow over time.”
The study also revealed that teenagers who are financially responsible tend to be responsible in other aspects of their life too.
Cannabis and the workplace
Concerns over the impact of cannabis in the workplace have gone up in smoke.
A new IPSOS poll found nearly 10 per cent of Canadians say their employer allows it but only one in 25 Canadians are actually using cannabis on the job.
Prior to legalization there had been fears of lost productivity, absenteeism and health and safety concerns. But 70 per cent of those polled said they've seen no evidence of that happening.
The poll was commission by human resources firm ADP Canada, and similar concerns loom as edibles are about to be legalized, but ADP doesn't anticipate things will change.
There’s a listeria outbreak involving chicken products, currently affecting three provinces.
There have been seven confirmed cases across British Columbia, Manitoba and Ontario. Canada's public health agency says it's likely linked to Rosemount brand cooked and diced chicken products.
A recall has been issued and the full product list can be found on the Canadian Food Inspection Agency website.
The 2020 Corvette Stingray was revealed at the Kennedy Space Center in an event yesterday.
The new vehicle is now a mid-engine convertible with a retractable hardtop that can be opened and closed at speeds up to 50 kilometres an hour. The starting price is about $70,000 Canadian.