Financial Literacy Month: Is your teenager financially literate?

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Dear editor, This November marks the first Financial Literacy Month in Canada. In the current economic climate, it is important that we all improve our knowledge, skills and confidence in making responsible financial choices for ourselves, but we also need to think about the next generation.

Too many young Canadians leave high school lacking financial life skills, unaware of the harsh financial realities they will face in the "real" world. That is why it is imperative that parents and educators teach children how to make wise financial decisions.

As a high school teacher, I have used "The City: A Financial Life Skills Resource" to teach my students basic concepts such as budgeting and savings, credit and debt, insurance, financial planning, and how to avoid fraud. The resource is available in French and English, both in print and on-line. The on-line version has particular youth appeal as it is visually attractive, interactive and game-like, providing frequent feedback to the learner. 

During Financial Literacy Month, all parents and teachers are encouraged to initiate discussions with teenagers regarding personal money management. To complement these discussions, "The City" is a good starting point for financial learning. "The City" is free, accessible to the general public and is suitable for schools, community groups and individuals.

For more information about "The City," a program developed by the Financial Consumer Agency of Canada (FCAC) and the British Columbia Securities Commission (BCSC), please visit fcac.gc.ca and go to the "Educational Programs" section. For more information about Financial Literacy Month, visit financialliteracymonth.ca.

 

Margo Connors

Happy Valley-Goose Bay

Organizations: Financial Consumer Agency of Canada, British Columbia Securities Commission

Geographic location: Happy Valley, Goose Bay

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