Financial Literacy for Children

It’s the fourth week of Financial Literacy Month and the theme is Start good habits early.

Financial literacy is an essential life skill and children can start learning about money when they’re young. Lessons in managing money can be embedded in family activities. Shopping, planning a trip or going to the bank are opportunities to introduce financial concepts, to explain the difference between needs and wants, and to talk about budgeting decisions.

Here are some places to find tips on teaching children about money:

This week is also Canada Education Savings Week. It’s a time to raise awareness of the various government incentives available through Registered Education Savings Plans (RESPs) and also free money that’s available through scholarships, grants and bursaries. To learn more, visit Education funding. Another good source of information about RESPs and the Canada Learning Bond is SmartSaver.

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