Burnside Gorge Community Centre

September 29th, 2016 Posted in News

Spacelocker-invest! In your kids! Young people who learn to money management early in life can avoid the financial woes that their parents face in today s troubled financial world with the tanking economy the way it is, does planning to live on a pension make any sense at all? Stop kidding yourself. Here, Harry Kane expresses very clear opinions on the subject. Invest! In your kids! Young people who learn to money management early in life can avoid the financial woes that their parents face in today’s troubled financial world. And schools and community groups are stepping up to underline the importance of students understanding finances. Getting a grip on finance life skills is as vital for teenagers as reading, writing, or math. Face our kids want a far more complex financial world than we ever did financial markets today develop and change overnight. Parents can help by showing responsible behaviour with finances. Give kids to allowance to help them learn about values and priorities with money early by handling their own.

Community centres and finance institutions are developing finance awareness programs for teens. In Victoria, Canada, for example, Burnside Gorge Community Centre, with support from other agencies, is planning to offer a free program this fall for youth 12 to 16 last year, their youth individual development account program included a special savings account with the local Vancity Credit Union. The program featured matching contributions with a pre-set limit to encourage savings. The kids chose goals, like saving for a car or a bike and kept the money in savings to build interest. Goal-setting, budgeting, credit, debt, and investing sessions were so included. Vancity has 52 youth credit union programs in B.C. with 4,800 members and $2.7 million in savings. All are operated within schools by students. Goals include teaching principles of saving, money management, and responsible spending. Students learn about earning interest and being professional and improve organizational and teamwork skills.

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