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Parents urged to use budget to talk to kids about money

The days following the release of a provincial budget are a good time to speak to your children about finances, says Gary Rabbior, president of the Canadian Foundation for Economic Education (CFEE).

“At an early stage, get them recognizing they live in a world in which they do look to government for certain things. Why? What kinds of things? And do we want to pay those taxes to get it? Maybe we do or maybe we don’t,” Rabbior said, speaking with The Telegram Thursday, “but setting up the opportunity to have a discussion with your kids about money early has so many benefits, in the sense it establishes that kind of communication relationship.”

Rabbior was in St. John’s, as the budget was being handed down, to meet with education officials, including the deputy minister responsible for K-12 education.

The CFEE is a non-profit group founded in 1974 and based in Toronto, with a focus on financial and economic literacy. It offers workshops for newcomers to Canada and informational programs for seniors, but most of its effort is targeted to youth.

Rabbior said the organization has made a submission to the premier of Newfoundland and Labrador’s task force on improving educational outcomes.

“Virtually every province in Canada right now is trying to do more in the financial education area, either by integrating it into the curriculum or developing new modules, so we’re helping with curriculum development, we’re helping with training of teachers,” he said, hoping to see continued consideration for financial literacy.

On April 26, the CFEE promotes a special day to Talk With Our Kids About Money. Parents and teachers across Canada will be called on to start a conversation. The program is backed by Scotiabank.

From: The Telegram (St. John’s, Nfld.)
April 7, 2017

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