Cash was flying at first Bring Your Child to Chamber lunch

Money was flying at the Burlington Chamber of Commerce’s most recent event.

It was Bring Your Child to Chamber Lunch day last Friday (Nov. 24) and the Burlington Convention Centre was filled with chamber members and their children, who loved the chance to win some cash.

Comedian James Cunningham provided an informative and entertaining discussion on finances titled Funny Money.

It was indeed fun, especially for competing youngsters who’d enjoyed a delicious lunch featuring all things kids: chicken fingers, french fries, pasta, veggies and dip and cookies for dessert. But the best part, at least judging by the enthusiasm factor, was when Cunningham paid them for listening to his money-saving ideas.

The Canadian stand-up comic known for the television series Eat St. started handing out loonies and $5 bills, and ended his hilarious talk with a dance-off. Students who took notes on his presentation were asked to show them off, and he selected several of them to get up on stage for a dance-off/knowledge quiz. Ava, the winner, took home $100, much to her delight.

Cunningham outlined budgeting and said time is the most important factor in helping youngsters grow their money. He suggested they consider stashing away the money they get for birthdays or special occasions.

Know your flow, he explained. “Y’all are broke and you want more money,” he said, adding that as a group, students 5-18 years old spent $259 billion in North America in the last year. “That’s an astronomical amount of money.”

Meanwhile, the same group only earned $91 billion/year, leaving a $168 billion/year shortfall.

He told students to track their expenses, that’s the only way to teach and learn to budget. “How much for basic school supplies for a year? $50 is the most common answer I get, but that’s not even close.”

In fact, he said, a student’s expenses are around $350/year

Printer ink, “the most expensive liquid on earth,” will drive up a budget quickly, he reminded students. .

“Mom and Dad are slowly going to want to wean you off using them as their primary source of income,” he warned.

He suggested students track the money in their life, including things like every time their parents fill the gas tank. “Then they can realize how expensive their lives are.”

Secondly, he told them to control what they owe, keep their wallets as simple as possible and use credit cards very carefully.

Finally, he said, “invest some dough. The little things increase in value.”

“When you combine the little bits of money, you start to build and grow,” he said. “Time is the most valuable investment tool. The younger you are, the more valuable time is.”

He showed charts where money invested in mutual funds grows substantially more for people who start younger.

In addition to the guest speaker, a number of businesses and non-profit groups exhibited at the event with lots of giveaways and information.

Cunningham said he planned to waive his speaking fee to divide it among three of the non-profits: United Way Halton and Hamilton, Food 4 Kids and Resilient Kids Canada.

Chamber of Commerce members expressed how much they enjoyed the first-ever bring your children to lunch event, and are looking forward to more going forward.