November is Financial Literacy Month ("FLM"), an initiative began by the Government of Canada and coordinated by the Financial Consumer Agency of Canada. We are an official supporter to this initiative (click here for our info) so we are strongly promoting it.
This year's FLM's theme is 'Take charge of your finances: It pays to know!' There are also weekly sub-themes that highlight the benefits of basic money management practices:
Week 1 (November 1-4) - Achieve financial well-being Week 2 (November 5-11) - Live within your means Week 3 (November 12-18) - Manage money for student life Week 4 (November 19-25) - Teach children about money Week 5 (November 26-30) - Know your financial rights and responsibilities
Our focus is on Week 4: Teach children about money. Here are some useful tips:
1. Start conversations about money early
2. Make learning about money part of everyday life
3. Talk about needs versus wants
4. Teach children about making choices
5. Teach children how much things cost
6. Set a good example
7. Talk about where money comes from
8. Teach children how to save
9. Open a savings account for your children
For more details about the above 9 tips, you can either contact us or check out the FLM website here. Happy Financial Literacy Month!