Fun ways to teach your kids about money this summer

letter to the editor from Lucie Tedesco, acting commissioner, Financial Consumer Agency of Canada

To the editor,

A growing number of Canadians are opting for “staycations” this summer. This is not surprising–vacationing at home can be a good way to save money, and to enjoy activities close to home.

It’s also a great opportunity to teach your kids about money. Check local listings for family-friendly events or activities, and ask your kids to help plan a day trip of their choosing–within a budget. They will learn to plan ahead and anticipate costs, and to make decisions like whether to bring or buy a lunch. For young kids, going for ice cream is a great time to show them that when you spend money on one item, that means you have less available for something else.  Teenagers might enjoy The City, a free online tool where they can learn about financial issues like needs versus wants, budgeting and goal-setting through different characters in an interactive, virtual world.

Parents can take advantage of everyday activities to teach a financial lesson. Go through coupons together, and ask your child to clip those for items on your shopping list. At the store, show them the costs of different items, like their favourite cereal. Involve your child in decision making when you’re deciding between similar products.

Promoting financial education is a key part of what we do at the Financial Consumer Agency of Canada (FCAC). Parents can check out “Teaching Children About Money” and our other free resources on teaching financial literacy to children at itpaystoknow.gc.ca.

Lucie Tedesco,

Acting Commissioner

Financial Consumer Agency of Canada

 

Just Posted

B.C. Interior free from measles

Vancouver measles outbreak hasn’t spread to the B.C. Interior

Skijoring gets your “giddyup” going in Clearwater

By Dawn McCormick The second annual Skijoring event took place at the… Continue reading

Veteran Welcome Program instigated by Legion

Members of the Barriere Legion Branch 242 recently announced that the Legion… Continue reading

Check out the banned books at the Barriere Library

Barriere Head Librarian, Pam Rudd, tells that this year is the 35th… Continue reading

Meet Alice at the upcoming Mad Hatter Tea Party

On Mar. 9, 2019, a certain young lady named Alice will be… Continue reading

Fashion Fridays: Must have wardrobe basics

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

National Energy Board approves Trans Mountain pipeline again

Next step includes cabinet voting on the controversial expansion

Skier dies at Revelstoke Mountain Resort

Cause of death for young man has not been released

R. Kelly charged with 10 counts of sexual abuse

R&B star has been accused of sexual misconduct involving women and underage girls for years

More sailings coming to 10 BC Ferries’ routes

Transportation Minister Claire Trevena said the sailings were originally cut in 2014

Cryptocurrency exchange CEO who suddenly died leaves Kelowna house in will

Gerald Cotten, holding the keys to money tied up in his virtual currency exchange, died in December.

Australian woman killed in avalanche at Whistler

The woman and her partner were reportedly rescued by ski patrol, but she did not survive

Trudeau tells Canadians to listen to clerk in SNC-Lavalin matter

Privy Council clerk Michael Wernick delivered a blunt assessment at the House of Commons justice

Mueller report looming, new attorney general in hot seat

Robert Mueller is required to produce a confidential report to pursue or decline prosecutions

Most Read