Thousands of teachers, parents and kids are talking about money today in classrooms and homes across Canada.
WINNIPEG, MB – April 19, 2017 – Hundreds of thousands of young Canadians are getting a jump start on their financial education today as they participate in “Talk With Our Kids About Money Day” (TWOKAM). The educational program, created by the Canadian Foundation for Economic Education (CFEE) and supported by Scotiabank, is celebrating its fifth anniversary.
In addition to money talks in homes and schools, money fairs, proclamations and special events are being held in communities across Canada today and throughout April to commemorate “Talk With Our Kids About Money Day.” The national showcase event is a money fair being hosted at the Manitoba legislature. The province of Manitoba is the first province to officially partner with CFEE on the TWOKAM program.
The TWOKAM program runs all year long, but the big day of celebration this year is today, April 19. TWOKAM is now available in all provinces in Canada, with plans to expand into the territories next year. Last year, nearly 5,000 schools and about 500,000 young people across Canada participated in the program.
To ensure the TWOKAM program was on the right track, last Fall CFEE surveyed over 6,000 young people from across Canada 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 have a keen interest in financial literacy and prefer to receive information at home and in school.
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.
Highlights of the TWOKAM School Program:
For teachers, easy-to-use, complete lesson plans that are cross-curricular and make it easy for teachers to integrate money topics into a broad range of subject areas including social studies, math, science, environmental studies, music and art. The plans are developed for grade 7 teachers, but all teachers are encouraged to participate. In addition, the program offers:
- Group discussion and debate ideas
- Resources and interactive tools for teachers
- Links to other resources and programs
- Links to background material on financial literacy and research results
Highlights of the TWOKAM Parent Program:
Free online access to fun and engaging activities that offer easy opportunities for parents to talk about money with their children, engage their curiosity and stimulate questions that lead to learning. Resources are organized by the child’s age range, for example age 5-7, 6-9, and so on, up to the “Transition Years” when youth are moving out on their own. The program also provides:
- A wide variety of activities including movies to watch, books to read, songs to listen to, crafts to make, local trips to take, and more
- Helpful links and resources for parents, including a variety of articles offering different views on allowances
Scotiabank’s involvement in the TWOKAM program is an extension of its commitment to supporting young people in the community. Investing in communities has been a focus of Scotiabank’s for 185 years. Young people are our future leaders and Scotiabank’s goal is to help ensure that they have the necessary skills and resources they need to support their success.
“CFEE is proud to be partnering with Scotiabank, and parents and educators throughout Canada, to help prepare our youth for their financial futures,” said Gary Rabbior, President of the Canadian Foundation for Economic Education. “We are also honoured that Manitoba joined our efforts this year as our first official TWOKAM Provincial Partner. Consistent with the province’s leadership in financial education in the past, we look forward to working in collaboration with the province in the years ahead to help prepare Manitoba youth to undertake their future financial decisions and actions with confidence and competence.”
“Scotiabank aims to support organizations that are committed to helping young people reach their infinite potential,” said Terri Williams, Vice President, Corporate Social Responsibility at Scotiabank. “We believe this is an investment in the long-term security, stability and growth of our communities. That’s why we are proud to support Talk With Our Kids About Money Day and CFEE’s efforts to increase the financial knowledge of young people in our communities.”
“Strengthening financial literacy is a collaborative effort, and I’m pleased to see initiatives like TWOKAM grow and build participation by teachers, students, and parents,” said Jane Rooney, Canada’s Financial Literacy Leader. “Research shows that starting to learn about money as early as possible is a great way to give kids a head start in the process of building healthy financial habits,” she added.
“Knowledge is power. That’s why it’s so important to ensure young people have a basic understanding of how money works in the real world,” said Manitoba Education and Training Minister Ian Wishart. “The Manitoba government is pleased to support the Canadian Foundation for Economic Education’s Talk With Our Kids About Money Day, which is helping students across the country understand how to manage money and get on track for financial competency throughout their lives.”
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.
At Scotiabank, we aim to support organizations that are committed to helping young people reach their full potential. Young people are our future leaders and Scotiabank’s goal is to help ensure that they have the necessary skills and resources they need to support their success. Together with our employees, the Bank supports causes at a grassroots level. Recognized as a leader for our charitable donations and philanthropic activities, in 2016, Scotiabank contributed more than $70 million to help our communities around the world.
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of $887 billion (as at January 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.
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