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

Barriere Bottle Depot signage vandalized

Barriere RCMP say they are currently investigating two incidents of mischief against… Continue reading

TNRD director accuses Tiny House Warriors of harassment

Blue River director Stephen Quinn said the actions of the pipeline protesters need to be addressed

Convicted animal abuser to return to B.C. court May 21

Catherine Jessica Adams is facing a breach of probation charge

Drinking water advisory issued for infants in Barriere

District of Barriere advises water from the municipal system should not be used as drinking water for certain at risk populations, specifically bottle-fed infants due to levels of manganese

Special Council Meeting held May 13 in Barriere regarding current water situation

A Special Council Meeting of the District of Barriere Municipal Council was… Continue reading

Killer of Calgary mother, daughter gets no parole for 50 years

A jury found Edward Downey guilty last year in the deaths of Sara Baillie, 34, and five-year-old Taliyah Marsman

Raptors beat Bucks 120-102 to even series at 2-2

Lowry pours in 25 as Toronto moves within two games of NBA Finals

Body of missing snowmobiler recovered from Great Slave Lake

Police confirm the body is that of one of three missing snowmobilers

Toddler seriously injured after falling from Okanagan balcony

RCMP are investigating after a two-year-old boy fell from the balcony of an apartment in Kelowna

Cost jumps 35% for Trans-Canada Highway widening in B.C.

Revelstoke-area stretch first awarded under new union deal

Is vegan food a human right? Ontario firefighter battling B.C. blaze argues it is

Adam Knauff says he had to go hungry some days because there was no vegan food

Winds helping in battle against fire threatening northern Alberta town

Nearly 5,000 people have cleared out of High Level and nearby First Nation

B.C. sends 267 firefighters to help battle Alberta wildfires

Out of control fires have forced evacuations in the province

Most Read