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The Pros and Cons of Investing Your Money

Category: Activities: Home | Age Group: 14-16


Types of Investments and their risks


Access to the internet


With the onset of the age when teens start to take on part time jobs and earn some money it is important for them to consider what they might do with those funds. There is the standard “3 S” approach of Spend, Save and Share but there are other considerations to be made. In most cases the teen takes the money saved and puts it in a bank account for future use. There are, however, other options for utilizing saved funds and the earlier the teen learns of these and becomes familiar with them the more likely they are to consider them in the future when they hopefully will have more disposable income.

  • Ask your child to explain what they would do if they suddenly received $1,000.
  • Based on their response, discuss with them the idea that these monies could go in three different areas—spending, saving and sharing.
  • Once you have discussed this ask your child to focus for a moment on the money
    they would put aside in savings and ask them what they would do with it.
  • Depending upon your child’s answer, ask if they would ever consider investing that money.
  • Indicate to your child that there are different types of investments and each has its risks and rewards.
  • Suggest to your child that, in the future, when they have more money available they may be interested in investing some. Offer to look at different types of investments with your child.
  • Although there are many types of investments, in order to prevent it from being overwhelming, suggest to your child that the two of you consider one of the following as a starting point: stocks and bonds; mutual funds; GICs; Tax Free Savings Accounts (TFSAs).
  • Let your child pick one investment they would like to examine and then, with your child, visit and obtain information from one of the websites listed below.
  • Explore one of the other possible investments.
  • Make your own imaginary investment portfolio and follow its development.
  • Play one of the many on-line stock market games.
  • Assist your child in doing a limited investment based on the results of the activity above.