TORONTO, April 15, 2015 /CNW/ - Today, Minister of State (Finance) Kevin Sorenson and Canada's Financial Literacy Leader Jane Rooney participated in the third annual Talk with our Kids About Money Day. The event took place at the Sprucecourt Public School in Toronto and provided an opportunity to encourage students to start learning money management as soon as they can.
Ms. Rooney highlighted that learning the basics about money early in life will prepare students to budget, save, invest and plan financially so they can achieve their goals and take responsibility for their own financial well-being.
Minister Sorenson reiterated the Government of Canada's commitment to strengthening the financial literacy of Canadians of all ages. A year ago, the Government appointed Jane Rooney as Canada's first Financial Literacy Leader to further promote financial literacy and develop a national strategy for financial literacy, drawing on consultations across the country. During these consultations, many emphasized the need to help children understand the basics of money management as early as possible.
- Developed by the Canadian Foundation for Economic Education (CFEE) in partnership with BMO Financial Group, the Talk with our Kids About Money initiative encourages Canadians to have conversations with youth about money and personal finances.
- The Government is committed to working with stakeholders to develop a national strategy for financial literacy that takes into consideration ways to meet the needs of Canadians at different stages of their lives.
- Three phases of consultations were completed in the development process, helping to ensure the strategy will meet the needs of all Canadians.
- The national strategy for financial literacy will be published in 2015.
- Financial Consumer Agency of Canada (FCAC) launched the Canadian Financial Literacy Database, a collaborative tool which contains comprehensive information on financial literacy resources and events offered by public, private and non-profit providers of financial education.
"Our government is committed to ensuring that young Canadians have the skills they need to make solid financial choices throughout their lives. From appointing the Financial Literacy Leader and working hard to increase financial literacy among all Canadians, to introducing the Tax Free Savings Account and cutting taxes for families, we remain committed to giving Canadians the tools and knowledge to best manage their money."
—Kevin Sorenson, Minister of State (Finance)
"Improving the financial literacy of Canadians is everyone's responsibility. We are fortunate in Canada to have an extensive network of organizations that provide a wide range of financial literacy resources for children, students, parents and teachers. The Canadian Financial Literacy Database, available at ItPaysToKnow.gc.ca, can help direct educators and youth to these resources and tools. I also encourage parents and teachers to take advantage of daily activities and special events like Talk with our Kids About Money Day, to start or continue the money conversation."
—Jane Rooney, Financial Literacy Leader
"The Talk with our Kids About Money program reaches beyond encouraging and helping parents and teachers to talk with our kids about money. It provides an opportunity for many people who think this is important to get involved and to take steps in their own communities, and within their own organizations, to support financial literacy and education efforts. The impact of the program is, happily, exceeding our expectations."
—Gary Rabbior, President and Chief Executive Officer, CFEE
"BMO is here to help parents and teachers start a conversation with our youth about money and financial planning. In today's world, financial literacy is more important than ever and we're proud to offer this free resource. Providing accessible resources every day of the year also helps to foster that 'talk' to happen easily at any time. Talk with our Kids About Money Day is an important part of who we are at, BMO and we look forward to continuing to grow this great program in the next few years."
—Joanna Rotenberg, Chief Marketing Officer and Head of Strategy, BMO
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For further information: Office of the Minister of State (Finance): Earl Maynard, 613-369-5696, Earl.Maynard@fin.gc.ca; Financial Consumer Agency of Canada: Natasha Nystrom, 613-941-4168, Natasha.Nystrom@fcac-acfc.gc.ca ; Financial Literacy Leader, firstname.lastname@example.org