Seventh annual Talk With Our Kids About Money Day (TWOKAM
Day) – supported by Scotiabank – now underway in thousands of
classrooms and homes across the country helping to prepare young
people for their financial futures.
TORONTO, April 17, 2019
/CNW/ - Talking with kids about money to improve financial literacy
is increasingly recognized as a priority, not only for Canada's young people, but also for the future
financial health of individuals, families and communities.
There is growing recognition across Canada and around the world of the correlation
between financial health and physical and mental health and
wellbeing. Many Canadians of all ages are struggling with stress,
anxiety and feeling out of control in managing their financial
affairs. The TWOKAM program helps to engage parents and teachers in
talking with youth about money. It can help prepare youth to manage
their financial futures and avoid the stresses faced by so many
Canadians today. And teachers and parents are listening– and
getting involved.
In 2018, over 7,000 teachers, over 650,000 students and many
more thousands of youth and parents participated in Talk With Our
Kids About Money Day (TWOKAM Day). The educational program, created
by the Canadian Foundation for Economic Education (CFEE) and
supported by Scotiabank, is celebrating its seventh anniversary.
The TWOKAM program started in 2013 as a pilot in Toronto and Montreal area schools and has since expanded
to include schools and homes right across Canada as educators, parents and guardians
recognized the need to improve the financial capability of young
Canadians. Initially, the program designated one day a year, as an
easy way to get the talks started. Starting as a catalyst to ignite
interest and initiate the "fires" started and spread.
The TWOKAM program now runs all year long, with teachers
and parents continuously accessing the free and easy to use
resources. There will continue to be the one big day of celebration
each year, the third Wednesday every April – and today,
April 17, is that day. Talking about
money is the first step to improving financial capability– and this
is so important for young Canadians to head into their futures with
confidence and competence.
To support all those who want to get involved, CFEE has created
a comprehensive website – www.talkwithourkidsaboutmoney.com – that
provides parents, guardians, teachers and anyone else interested
with resources they can easily use to have money talks with kids.
Best of all, thanks to Scotiabank, TWOKAM is free and available in
French and English.
In addition to the 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 TWOKAM Day. The
program's national showcase event this year is a Money Fair hosted
by Scotiabank at the Scotia Plaza in downtown Toronto. Among the featured guests at the
event are representatives of the Centre for Addiction and Mental
Health (CAMH), the Financial Consumer Agency of Canada (FCAC) and Toronto Maple Leafs Alumnus,
Darcy Tucker.
Quotes
CFEE is proud to be partnering with Scotiabank,
and parents and educators all across Canada, on our Talk With Our Kids About Money
program that aims to help prepare our youth for healthy financial
futures. CFEE couldn't be more pleased with the growing impact
of the TWOKAM Program. With over 8,000 teachers and thousands more
parents participating this year, I believe we are achieving that
goal."
-
Gary Rabbior, President of the
Canadian Foundation for Economic Education (CFEE)
"Young people are our future leaders and our goal at Scotiabank
is to help them gain the skills and provide the resources they need
to reach their goals. By supporting Talk With Our Kids About Money
Day, we are investing in young people and in the long-term
security, stability and growth of our communities."
-
Ahmad Dajani, Vice President,
Operating Practices, Scotiabank
"Research has indicated a link between debt-related stress and
poor mental health among adults. Engaging with kids early to
improve their financial literacy has the potential to positively
impact their well-being over time."
- Dr.
Hayley Hamilton, Senior Scientist,
Institute for Mental Health Policy Research at CAMH
About CFEE
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.
About Scotiabank
Financial services support
economic progress, allow people to pursue ambitions and create more
widespread future opportunities. Scotiabank will deliver on this
through our focus on Sustainable Business. By paying careful
attention to the areas where we feel we can have the biggest
impact, we create economic, social and environmental value for our
customers, employees, communities and our planet, while also
delivering returns for our shareholders. Scotiabank's Sustainable
Business strategy highlights four areas where the Bank can make the
biggest difference: Trust, Climate Change, Economic Inclusion and
Young People. To read more about our Sustainable Business strategy
visit www.scotiabank.com/sustainability.
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our more than 25 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 98,000
employees and assets of over $1
trillion (as at January 31,
2019), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank