Money for something: Learning to save in a world without piggy banks

Surrey BC class makes practical use of unique financial literacy curriculum

RBC and Free The Children urge schools across Canada to take up the challenge of financial literacy with It All Adds Up

VANCOUVER, Nov. 19, 2015 /CNW/ - How do young Canadians learn about the value of a dollar in a world without cash? For generations, children have learned the basics of personal finances by watching their allowance and birthday money grow in their piggy banks. For most of us today, gifts to the children in our lives are "virtual" ones, deposited directly into a bank account or RESP (Registered Education Savings Plan).

This November, RBC and Free The Children are recognizing Financial Literacy Month by celebrating the success of It All Adds Up, a financial education curriculum resource designed to help teachers make finances "real" for young Canadians.

The It All Adds Up curriculum provides elementary and secondary school students the opportunity to learn practical lessons about managing their personal finances. To date, this curriculum resource has been made available to over 1.4 million young Canadians in over 6,500 schools across the country.

Students' Application of Financial Education Lessons Helps Local Community Shelter

The lessons students learn cover a wide variety of topics, including money basics, needs versus wants and how to save and spend in a cashless society. In addition, the lessons have real-world applications - something students in a class at Clayton Heights Secondary School demonstrated when they applied what they learned with this curriculum to make a positive difference in their community. Utilizing the knowledge they gained from It All Adds Up, the students developed a plan and a budget and then delivered a successful lunch program for 500 people at a Vancouver shelter.

"We worked with Free The Children to create the It All Adds Up program to provide students with practical, hands-on advice and tools to help them manage their finances and achieve their goals," said Jennifer Tory, group head, Personal & Commercial Banking, RBC. "We're delighted to see students apply these skills and have a positive impact on their community and the world, which is exactly the goal we set out to accomplish when we designed the program together."

Financial Literacy Month is the perfect time for students and teachers across the country to become more financially aware. No matter what your age or stage in life, there are practical lessons that can help you learn about personal finances.

"What these students have done for themselves and their community is a wonderful example of the benefits of strengthening the financial literacy of young people," said Jane Rooney, Canada's Financial Literacy Leader. "I'm pleased to be here in Surrey during Financial Literacy Month to celebrate the success of this collaborative effort among RBC, Free the Children and the students at Clayton Heights Secondary School."

Take up the It All Adds Up challenge today and learn about financial education at: http://www.rbc.com/freethechildren/#it-all-adds-up

About RBC's financial literacy advice and interactive online resources
Canadians can freely access RBC's new Why Financial Literacy‎ Matters website with free advice videos and articles, interactive calculators and other online resources. In addition, whether Canadians want to get more from their day-to-day banking, protect what's important, save and invest, borrow with confidence or take care of their businesses, the RBC Advice Centre can help answer their questions, providing customized information covering many facets of personal finance at www.rbcadvicecentre.com. Canadians can also visit their local RBC Royal Bank branch or call our toll-free number at 1-800-769-2553.

SOURCE RBC

Image with caption: "Surrey, BC - As part of Financial Literacy Month, Graham MacLachlan (RBC Regional President, BC - standing left), Jane Rooney (Canada's Financial Literacy Leader - standing right), teacher Sarah Daintrey (seated left) and students of Clayton Heights Secondary School discuss the "It All Adds Up" curriculum. (CNW Group/RBC)". Image available at: http://photos.newswire.ca/images/download/20151119_C9344_PHOTO_EN_44467.jpg

For further information:

Jeff Harrington, Weber Shandwick, 604-283-1362
Andrew Block, RBC Communications, 416-974-7611


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