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Saturday November 2nd, 2013

Posted at 11:00am

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Junior Achievement of South Western Ontario will be celebrating Financial Literacy Month with the delivery of over 180 financial literacy programs this school year.

Junior Achievement stresses that it is essential for today’s young people to know when to spend, when to save, how to effectively manage a budget, how to choose the right financial products and how to prepare for life changes. By providing basic financial concepts at an early age, parents can help them prepare to make sound financial decisions.

“There is no doubt that early behaviour and skill development are essential in ensuring lifelong financial success,” said Barb Smith, President, Junior Achievement of South Western Ontario. “From opening a bank account, to letting a child plan the weekly grocery trip, parents can teach their children healthy money management habits.”

Each month in classrooms across the Chatham-Kent, Sarnia Lambton and Windsor Essex, Junior Achievement provides students with the understanding of basic financial concepts. Through the delivery of Junior Achievement programs, volunteers help students develop the the ability and discipline to make wise personal and financial decisions.

“In order to be successful, youth must learn about the financial services and techniques that are available to them, said Smith, “Throughout the school year, over 180 Junior Achievement volunteers from the business community will deliver over 180 programs reaching over 5,000 students throughout SWO. With the delivery of these programs, volunteers will help students put financial literacy concepts into practice, so that they can connect basic economics to their daily lives.”

Junior Achievement is the largest youth business education organization in Canada and plays an important role in developing Canada’s future leaders by providing them with the knowledge and confidence needed to define personal success, gain financial responsibility and enhance their workforce readiness. Last year alone, more than 243,000 young Canadians experienced a Junior Achievement program from over 14,500 committed business volunteers. Junior Achievement programs, including Dollars with Sense, Economics for Success and the Company Program are delivered by volunteers to bring the business world experience into the learning environment. As part of the commitment to provide financial literacy education tools to parents, educators and students, Junior Achievement, with generous support from TD Bank Group, has launched a new online Resource Portal. Additional tools, videos and educational materials are available at resources.jacan.org.

There is no doubt that early behaviour and skill development are essential in ensuring lifelong financial success. An analysis conducted by the Boston Consulting Group showed that Junior Achievement programs make a significant impact on the financial literacy of students. Over 75% of Junior Achievement past participants believe the organization’s programs had a significant impact in developing their financial literacy skills. Achievers save more, borrow less, and do better financially than the average Canadian.

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