Girls seen as financially savvier than boys, but single women in the workforce struggle with money management
TORONTO, Sept. 23, 2011 /CNW/ - ccording to a new survey commissioned by
Visa Canada, 86 percent of Canadian parents of children aged 12 - 18
are teaching their kids financial literacy skills at home. Less than a
third (31 percent) of kids receive information to help manage personal
finances at school, while 11 percent take advantage of free online
educational tools. Over a third of parents polled (35 percent) perceive
girls as more financially literate than boys, but Statistics Canada
data shows that single women in the workforce are less confident than
"Parents are doing their part to provide financial literacy education to
their kids," said Melissa Cassar, head of corporate and public affairs,
Visa Canada. "That's great news, however financial literacy needs to be
part of life-long learning, and this means money management education
needs to play a bigger role in all aspects of life - including in the
classroom. Right now there's a gap, and parents feel they are left to
fill the void."
As a proud sponsor of Plan Canada, Visa commissioned this survey in
advance of the 'Because I am a Girl' Youth Summit on September 23, 2011 in Toronto, Ontario. Visa is
providing educational material and resources from its Practical Money Skills website and Choices and Decisions teaching curriculum for a financial literacy learning module for girls
clubs across Canada.
"We are delighted to join forces with Plan Canada and support them with
our financial literacy module," said Cassar. "Through this
collaboration, Visa hopes to further help educate Canadian girls about
the importance of financial management, budgeting and saving and how
these simple skills can lay the groundwork to build a strong and sound
Former Team Visa athlete and Olympic medalist Jennifer Heil, who is
heavily involved with the 'Because I am a Girl' initiative with her own fundraising challenge, has supported Visa in
promoting the importance of financial literacy.
"I am very excited to be working on this new sponsorship," says Heil.
"With the information provided in the financial literacy learning
module, imagine where the strength and confidence from this knowledge
will take these girls, and those around them, into the future."
Each month, a new electronic module, on different topics that connect
domestic and international issues, are sent to girls clubs across the
country. Visa has provided the curriculum for the financial literacy
module which is interactive and expected to reach 5,000 girls in year
one alone. The clubs are student-led and include girls in middle and
high school with the support and supervision of a female teacher or
staff member. The format of the clubs allows for the girls to discuss
the material, and challenge themselves with workbooks, with the
intention to educate and build leadership, teamwork and communication
"Plan Canada is proud to have Visa on board as a sponsor with 'Because I am A Girl', as we promote education, self esteem and global change," said Leanne
Nicolle, director, corporate development and youth engagement, Plan
Canada. "As a children's organization, committed to breaking the cycle
of global poverty, we are delighted to educate Canadian youth on
financial literacy and start them on their way to healthy economic
As part of its Clinton Global Initiative commitment, Visa has also pledged to reach 20 million people with
financial education by May 1, 2013. Three years in, Visa is more than
half way there - thanks in part to its education resources on www.PracticalMoneySkills.ca, which are available free to educators, parents and kids. The Plan
Canada sponsorship gives Visa the opportunity to further support its
Clinton Initiative pledge.
Visa is a global payments technology company that connects consumers,
businesses, financial institutions and governments in more than 200
countries and territories to fast, secure and reliable digital
currency. Underpinning digital currency is one of the world's most
advanced processing networks—VisaNet—that is capable of handling more
than 20,000 transaction messages a second, with fraud protection for
consumers and guaranteed payment for merchants. Visa is not a bank and
does not issue cards, extend credit or set rates and fees for
consumers. Visa's innovations, however, enable its financial
institution customers to offer consumers more choices: pay now with
debit, ahead of time with prepaid or later with credit products. For
more information, visit www.corporate.visa.com.
For more information on financial literacy visit Visa's Practical Money
Skills - www.practicalmoneyskills.ca - which was built for teachers, parents, students, and consumers of all
ages to help improve their personal finance knowledge with free
educational resources including classroom curriculum.
About Plan Canada and the 'Because I am a Girl' Initiative
Founded in 1937, Plan is one of the world's oldest and largest
international development agencies, working in partnership with
millions of people around the world to end global poverty. Not for
profit, independent and inclusive of all faiths and cultures, Plan has
only one agenda: to improve the lives of children. 'Because I am a Girl' is Plan's global initiative to end gender inequality, promote girls'
rights and lift millions of girls - and everyone around them - out of
poverty. Visit www.plancanada.ca and www.becauseiamagirl.ca for more information.
About the survey
From September 8 to September 12, 2011, an online survey was conducted
among a sample of 1,002 Canadians who are parents of children aged 12
to 18 and who are Angus Reid Forum panel members. The margin of error
on the full base — which measures sampling variability — is +/- 3.01%.
Discrepancies in or between totals are due to rounding.
SOURCE VISA Canada Corporation
For further information:
Visa Canada: Ashleigh Goodbody, 416-860-3939, CanadaMediaInquiries@visa.com