What is My Money, My Future: Canadian Financial Education Challenge?
CFEE is partnering with CIBC to challenge youth across Canada to create new tools and resources to help young Canadians improve their financial knowledge, skills and capability. We are reaching out to high school students aged 14-18, in all subject areas, to apply their creativity, skills, and passion to develop a new learning resource to help us teach important financial knowledge and skills to youth. This innovative peer-to-peer learning program aims to promote and apply a sense of fun and creativity to an important life skill – financial literacy.
What’s The Challenge?
We challenge youth to be creative, and to draw upon their talents, skills, and passion to create something new – different – unique – and effective. We know that students know best what they enjoy – what engages their interest – and how they like to learn. And we know that students differ in terms of what they like, what engages their interest, and how they learn. That is why we want a vast array of youth participating, demonstrating a host of talents and skills, producing all sorts of different tools and resources.
What Can The New Resource Be?
It can be a video, a podcast, a play, a booklet, a PowerPoint presentation, an animated PowerPoint presentation, a whiteboard animation, a song, a piece of art, an ad, a poem, a website, a video game, an animation, an app, a social media post, a 3D printed object, … any technique, tool, or resource that could be used to teach other youth about money and how to achieve a healthy financial life and future. It can be in either English or French.
How Will Students Find Out About The Challenge?
There will be broad outreach directly to teachers, administrators, schools, school boards and Provincial Ministries of Education to ensure wide knowledge about the challenge. We will also use our broad network and social media to inform parents and students directly. In addition, to ensure inclusivity and diversity, we will reach out to a variety of community groups which will help promote the challenge to their members (i.e BIPOC, LGBTQ, at risk youth, etc.) Visit the program website at www.mymoneymyfuturechallenge.ca for more information.
How Do Students Enter The Challenge?
Teachers who want their students to participate will go to www.mymoneymyfuturechallenge.ca and click on “Register” to provide the information requested. Any student from the registered class will then be eligible to participate – either as individuals or teams up to four. Teachers are asked to register their classes by March 15th, 2021.
High school students who learn about the Challenge directly or through their community group and want to participate will ask their teacher to register their class so they can enter the challenge.
Youth between 14 and 18 who are not high school students can enter through the website using an “Independent” registration process. These independent entries will be judged at the regional level.
How Are The Resources Judged?
First Round: The first judging will be done by teachers. He or she will select the best project to submit for the Regional round of judging. Teachers can also select and submit up to three Honourable Mentions. Teachers will submit their selected classroom submissions on www.mymoneymyfuturechallenge.ca. Teachers can set their own evaluation criteria or follow the Challenge Rubric for guidance. Student projects should be completed and reviewed by their teachers before 11:59:59 p.m. April 16, 2021 which is the deadline for teachers to submit the selected submissions from their class.
Regional Round: Regional panels of judges will then evaluate the best projects submitted by teachers, as well as any independent projects submitted directly by youth. Judges will select the best from each region of Canada for participation in the National Showcase. Regional Judging Panels will make their decisions by May 14th, 2021.
National Showcase: Regional winners will then make a live virtual 3 minute presentation providing background on their project. The presentation will cover topics such as: origin of their idea, learning objective and what will be taught, why this topic is important for youth, what plans do they have for the idea, what they will do with the winning prize money, etc. Students will present to an eminent national panel of judges including senior officials from government, education and business, as well as representatives from youth groups, and the NGO community. The virtual National Showcase Challenge will be open for viewing to all Canadians. The National Showcase Challenge will take place toward the end of May, or beginning of June, 2021. Date to be confirmed.
How Will The Resources Be Judged?
Submissions will be evaluated by the Regional and National judging panels on the basis of the PROFILE criteria:
P ractical: Is it feasible to implement? Is it easy to use? Can it be scaled up?
R elevant: Is the topic and content relevant to youth and what youth care about?
O riginal: Is it creative and new – and represents a new way of teaching a topic or skill?
F inancial Content: Is the financial information and content accurate and applicable to youth?
I mpact Potential: Will it appeal to youth, engage interest – and likely have impact?
L earning Potential: Is there good potential for youth learning financial knowledge/skills?
E xceptional: Does it stand out? Overall impact it has on the judges?
What Are The Prizes?
Prizes for the National Challenge are:
1st Prize: $10,000* towards future education or training – either to winning individual or shared equally among team members
2nd Prize: $5,000 towards future education or training – either to 2nd place individual or shared equally among team members
3rd Prize: $2,500 towards future education or training – either to 3rd place individual or shared equally among team members
Winners will be announced by the end of the day of the National Showcase and via a Media Release the week following the Showcase.
What Happens To All The Resources Submitted?
The best creations of youth (winners and honourable mentions) will be posted on a new VIRTUAL FINANCIAL LEARNING YOUTH CENTRE website for use by teachers, parents, and youth to learn about money, develop financial skills, and be better able to build a happy, healthy, financial future.
What Else Do We Need To Know?
- All entries must be the students or teams’ original work. While we recognize that existing sources will be used for inspiration and research, CFEE reserves the right to disqualify an entry at any time if there is evidence of plagiarism, copyright infringement, etc.
- Entries must be submitted in one of Canada’s two official languages – English or French
- CFEE, supported by CIBC, promises to run this competition fairly, ethically, and with integrity
- All judging decisions are final
- Winners will be required to verify their eligibility by completing an Affidavit of Eligibility/Liability Release, and where lawful, a Public Release during the award claim process
For more information please contact:
Terri Williams, Program Coordinator, My Money My Future
*NO PURCHASE NECESSARY. Open February 15 – April 16, 2021 to legal residents of Canada 14-18 years of age. Three prizes available: First Place $10,000, Second Place $5,000 and Third Place $2,500. Odds of winning depend on number of eligible entries received and skill in meeting criteria. Maximum one potential finalist per province and territory, plus one wild card finalist nationally. Internet access required.Visit Site