CALGARY, March 8 /CNW/ - For young Canadians looking to better
understand and monitor their spending - there's a new "app" for that,
and it's free from the nation's securities regulators. The Canadian
Securities Administrators (CSA) have launched a free mobile money management application (app) and interactive web site
called My Make it Count to help youth better understand and monitor their spending behaviour in
real time. The convenient My Make It Count app allows youth to track the money they earn and spend each day, set
savings goals, monitor their financial habits, and share smart spending
ideas on-the-go - an approach that will help them develop good
financial habits as they enter adulthood.
"As securities regulators, we have a mandate to educate investors about
the capital markets and that education should start with our youth,"
said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta
Securities Commission. "We believe that providing easy-to-access tools
for youth to learn and build on the fundamental practices of budgeting
and saving will help them to become more confident and better-equipped
investors as adults."
According to a recent survey, young Canadians are struggling to manage
their finances. Seventy-two per cent of Canadians between the ages of
18 and 29 had credit cards and 22 per cent had a personal line of
credit. Six in 10 reported they had debt, with almost two-thirds of
those reporting they had credit card debt, and 44 per cent saying they
had student loans.
The easy-to-use My Make it Count app is designed to give youth a greater understanding of their
relationship with money. My Make it Count tracks the number and type of transactions made during a specified time
period and is readily accessible from mobile devices in real time. With
an increased visibility of their spending habits, youth can then make
smarter choices about their habits and better manage their money.
Although designed for youth, Canadians of all ages can benefit from this
personal finance tool. To download the free app, search 'My Make it
Count' in the iTunes Store. To use the My Make it Count program, go to MyMakeitCount.ca.
The CSA, the council of securities regulators of Canada's provinces and
territories, coordinates and harmonizes regulation for the Canadian
How you can use the My Make it Count App:
See something you like in a store? Start a savings goal in My Make it Count.
Bought a snack? Record your transaction in My Make it Count.
Worried you are spending too much on clothes? Review your recent
spending habits in My Make it Count.
About Make it Count
Make it Count information and guides for parents and instructors are
available at mymakeitcount.ca and provide tips, activities and plenty
of opportunities to engage youth in talking about effective money
management. Order or download your free copy at makeitcountonline.ca.
SOURCE Canadian Securities Administrators
For further information:
|Mark Dickey |
Alberta Securities Commission
Autorité des marchés financiers
|Carolyn Shaw-Rimmington |
Ontario Securities Commission
British Columbia Securities Commission
|Ainsley Cunningham |
Manitoba Securities Commission
New Brunswick Securities Commission
|Natalie MacLellan |
Nova Scotia Securities Commission
Saskatchewan Financial Services Commission
|Janice Callbeck |
PEI Securities Office
Office of the Attorney General
Financial Services Regulation Div.
Newfoundland and Labrador
|Fred Pretorius |
Yukon Securities Registry
Nunavut Securities Office