Today is “Talk With Our Kids About Money” Day in CanadaCFEE05.17.23
Don’t you wish someone had helped you prepare for your financial future when you were a kid?
TORONTO, ON: May 17, 2023 – The Canadian Foundation for Economic Education (CFEE) announced today that they are continuing to build on the incredible success of the “Talk With Our Kids About Money Day” (TWOKAM) program over the last 10 years.
Last year, nearly 8,000 schools and over 900,000 youth across Canada participated in the program, which also supports parents and guardians in talking with their kids about money.
The TWOKAM Program runs all year long, but the big day this year is May 17. TWOKAM is available in all provinces in Canada and the resources are free and available in English and French.
Talking about money is the first step to improving financial capability – and enabling young Canadians to undertake their financial decisions and actions with confidence and competence. CFEE has built a comprehensive website – www.talkwithourkidsaboutmoney.com – that provides parents, guardians and teachers with the resources they need to have money talks with kids.
To ensure the TWOKAM program is on the right track, CFEE surveyed over 6,000 youth from across Canada a number of years ago asking them what they most wanted to learn about money and how they wanted to learn – and from whom. The survey showed that young Canadians are very interested in learning about money and TWOKAM provides resources that address all of their top issues.
Youth Survey Quick Facts
Top 4 sources from which youth wanted to learn about money:
- Home (61%)
- School (54%)
- Knowledgeable guests at school (42%)
- From representatives of financial institutions (24%)
Top 4 challenges youth said they face:
- Earning money
- Saving money
- Wanting things I can’t afford
- Buying things I don’t really need
Top 12 topics they want to learn about:
- Best ways to prepare for earning money and getting a good job and career
- Making good spending decisions
- Ways and means to save money
- How to plan for my future education – and be able to pay for it
- Taxes and how to file taxes
- Investing money – ways to invest, types of investments, and possible risks and returns
- Moving out – the costs and potential challenges when you leave home
- How to avoid frauds and scams
- Making larger purchases – such as a computer, car, or home
- Budgeting money
- Understanding how student loans work
- Credit cards – how they work and how to pick the right one
“CFEE is pleased to find that the TWOKAM program aligns so well with students’ interest about money – and how they want to learn about money,” said Gary Rabbior, President of CFEE. “The Foundation is pleased and proud to offer this leading financial education program in Canada – a program recently nominated for an international award for “financial inclusion” by the Child and Youth Finance International organization in Amsterdam.”
Learn more about the TWOKAM program at www.talkwithourkidsaboutmoney.com and the Survey at www.cfee.org and https://cfee.org/wp-content/uploads/2022/11/Final-Youth-Survey-Learning-About-Money-Summary-of-Results-Nov2016-no-link.pdf.
CFEE is a federally chartered, non-profit, non-partisan organization, founded in 1974, that works to improve economic and financial literacy and enterprising capability. CFEE works collaboratively with ministries and departments of education along with school boards, schools, educators, and teacher associations. CFEE also engages in activities to support and assist newcomers and past immigrants to Canada, and the general public including print resources, videos, workshops, and online resources. Overall, CFEE aspires to help Canadians of all ages be better prepared to undertake their economic roles, responsibilities, and decisions with confidence and competence.
Cell: (416) 893-8772