CSA announces winners of Financial Fitness Challenge
Website increases financial literacy among youth
Tuesday, April 14, 2009
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" says CSA Chairman 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 Feb. 2 to 28, the CSA invited Canadians aged 15 to 21 to take part in an interactive online 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 online quiz was successfully answered by 13,702 youth who entered for a chance to win a scholarship.
While only 30% of participants surveyed were very interested in personal finance before completing the CSA's online challenge, 62% said they were very interested in personal finance after completing the challenge. More than 90% of participants indicated that they now know more about how to budget, save and invest and 95% indicated that they now have some ideas on how to be financially healthy.
The winners each won a $750 scholarship for demonstrating their financial fitness savvy. They are:
> Michael Stannard (British Columbia);
> Brenna Lyanne Toth (Alberta);
> Amanda Abbott (Saskatchewan);
> Jennifer Froese (Manitoba);
> Shelby Davies (Ontario);
> Karen Benzaquen (Quebec);
> Rosalinda Kan (New Brunswick);
> Jasmine Emily Hare (Nova Scotia);
> Isaac Williams (Prince Edward Island);
> Amanda Hewlett (Newfoundland and Labrador);
> Rosalind Skinner (Northwest Territories); and
> Denis Godin (Yukon).
Although the Financial Fitness Challenge for 2009 is over, the website is accessible year-round.