Author: Sarah Mawji | February 14, 2023
How to make financial conversations fun for the whole family.
Starting financial education early
Financial education should start as early as possible. According to researchers from Cambridge university, kids can begin learning age-appropriate lessons about finances from as young as three years old.
Despite its value, however, financial literacy rates in Canada remain low. The pandemic laid the groundwork of a more difficult financial future for many, but according to Canadian financial advisors, today’s children and young adults are the most susceptible to financial hardship.
This upcoming Family Day on February 20th is a great opportunity to start engaging in conversations about finances in a way that’s fun for the entire family.
Family Day Conversation Starters
Here are some Family Day conversation starters that can be used to approach financial literacy in a fun way. Get your family thinking about the many factors that play a role in creating a stable financial future—in an easy and interactive way!
These conversations will help to kick-start the thought process around what the family finances can help do to achieve your financial goals.
Financially literacy in Canada
According to a recent poll, seven out of 10 Canadians consider themselves financially literate, while nearly 30% do not.
In 2021, the Government of Canada launched a five-year plan to create a more accessible, inclusive, and effective financial literacy ecosystem for all Canadians.
While this initiative is now integrated into the school system, workplaces, and communities for children and young adults, reinforcing financial concepts and the importance of financial education at home should remain a priority for families. The best way to jump into these conversations is to make it age appropriate and make it fun.
Financial literacy is an important life skill. Those with the financial know-how who start their financial education early in life are less prone to falling into financial hardship and are far more likely to show resilience when challenges arise. Knowing what tools are available and how to use them will make a lasting impact.
Harbourfront offers family financial planning services and is equipped to guide Canadian families though unique situations like legacy wealth planning. You can.
Additional Kid-Friendly Financial Literacy Resources
Here are some additional resources you can use on Family Day, or any time you want to educate and help bring your family members closer together. There are many great programs offered to help support your financial education efforts by adding an element of fun and gamification.
Junior Achievers Canada
JA Canada inspires the next generation to realize their potential and make a positive impact in their communities. JA commits to ensuring accessibility and inclusivity through programs that help you build transferable skills in work readiness, financial health, and entrepreneurship.
Financial Literacy Camps
Through Our Kids, a trusted Canadian source, a total of six financial literacy and money camps for kids are held each year. Programs are available for children aged 9 through 18. These camps help kids and teens explore their interest in finance and the economy, help them clarify their future goals and can even give them a head start on their career track.
Financial Education Resources – Bank of Canada
Here you will find an annotated list of Canadian and international websites that provide financial information on topics ranging from inflation, banking, personal finances, investing and consumer protection.
Hands on Banking
The Hands on Banking Program is a free, engaging, and noncommercial financial education program offered by Wells Fargo. It teaches people in all stages of life about the basics of responsible money management.
Here you will find interactive money games and activities that kids will love!
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