REGINA — Regina’s Rashid Heydar-Zada was one of seven finalists chosen to compete in a national financial literacy fair, put on by the Canadian Foundation for Economic Education (CFEE) and Scotiabank.

The nine-year-old boy’s competition submission included a video with tips on how to save your money, set to the tune of Justin Timberlake’s ‘Can’t Stop the Feeling!’ song.

“I learned that you could have three jars, not one. One for saving, one for spending and one for sharing,” Heydar-Zara said. “For the saving jar, if you cannot save, it’s better to glue your jar so you can’t open it every time.”

Hundreds of children across Canada entered submissions for the annual money fair. The competition also coincided with ‘Talk with our kids about money’ day. CFEE president, Gary Rabbior, said it’s all about preparing young people for their future.

“We aren’t just calculating numbers and how to pick the best credit card. We’re actually trying to build foundational skills that will make them empowered decision-makers to stay in control of their lives,” Rabbior said.

Financial psychologist, Dr. Moira Somers, studies the link between financial health and mental well-being. She said money management skills are now critical to survival in the 21st century.

“Poverty is a determinate of poor health, whether that’s physical health or mental health,” she said. “And although education isn’t everything, it sure is a great place to start.”

Heydar-Zara didn’t win first place in the competition, but he said he’s glad to have learned more about money, because it’s made him even more grateful for another recent accolade.

“I also entered a coding contest and I won the first prize. And it was a Google Chrome Book,” Heydar-Zara said.

Rashid Heydar-Zada, 9, in his video submission for a national financial literacy competition.

By: Taylor Rattray
CTV News Regina Anchor / Video Journalist
April 14, 2021