CSA increases financial literacy among youth with "Financial Fitness Challenge"

CSA Securities

Montréal – Twelve young Canadians have demonstrated their financial savvy and won scholarships of $750 after participating in the Canadian Securities Administrator (CSA) “Financial Fitness Challenge”.

“As securities regulators, we appreciate the importance of financial literacy and are committed to improving that particular skill in young Canadians” said CSA Chair Jean St-Gelais. “It is encouraging that youth are interested in enhancing their money management, savings and investment skills, especially at an age when many start earning and handling their own money”.

From February 2 to 28, 2009, the CSA invited Canadians aged 15 to 21 to take part in an interactive on-line challenge in order to learn more about the importance of saving and investing money for the future. The website, www.FinancialFitnessChallenge.ca, received 37,970 visits from youth who used the educational games, tips and interactive activities. The on-line quiz was successfully answered by 13,702 youth who entered for a chance to win a scholarship.

While only 30 per cent of participants surveyed were very interested in personal finance before completing the CSA’s online challenge, 62 per cent said they were very interested in personal finance after completing the challenge. More than 90 per cent of participants indicated that they now know more about how to budget, save and invest and 95 per cent indicated that they now have some ideas on how to be financially healthy.

The winners, listed below, hail from each of the Canadian provinces and two of the territories. They have each won a $750 scholarship for demonstrating their financial fitness savvy:

  • Michael Stannard (British Columbia)
  • Brenna Lyanne Toth (Alberta)
  • Amanda Abbott (Saskatchewan)
  • Jennifer Froese (Manitoba)
  • Shelby Davies (Ontario)
  • Karen Benzaquen (Québec)
  • Rosalinda Kan (New Brunswick)
  • Jasmine Emily Hare (Nova Scotia)
  • Isaac Williams (Prince Edward Island)
  • Amanda Hewlett (Newfoundland and Labrador)
  • Rosalind Skinner (Northwest Territories)
  • Denis Godin (Yukon)

Although the Financial Fitness Challenge for 2009 is over, the site is accessible year-round, at www.FinancialFitnessChallenge.ca. Youth who didn’t win or missed the contest can look forward to another edition of the CSA contest next year.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514 940-2176

Alberta Securities Commission

Mark Dickey

403 297-4481

British Columbia Securities Commission

Andy Poon

604 899-6880

Financial Services Regulation Division, Newfoundland and Labrador

Doug Connolly

709 729-2594

Manitoba Securities Commission

Ainsley Cunningham

204 945-4733

New Brunswick Securities Commission

Wendy Connors-Beckett

506 643-7745

Nova Scotia Securities Commission

Natalie MacLellan

902 424-8586

Office of the Attorney General, Prince Edward Island

Marc Gallant

902 368-4552

Ontario Securities Commission

Perry Quinton

416 593-2348

Saskatchewan Financial Services Commission

Barbara Shourounis

306 787-5842

Securities Office, Northwest Territories

Donn MacDougall

867 920-8984

Securities Office, Nunavut

Louis Arki

867 975-6587

Securities Office, Yukon

Fred Pretorius

867 667-5225

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