REPEAT-BMO: It's Never Too Early to Teach Kids About the Basics of Investing
- Children as young as five can grasp basic financial concepts - Ongoing dialogue builds lifelong financial literacy - Talk With Our Kids About Money Day - CFEE program supported by BMO provides resources for families and teachers to help youth better understand money matters in their lives
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/29/13 -- Following the inaugural Canadian Foundation for Economic Education's (CFEE) Talk With Our Kids About Money Day - a Canada-wide initiative designed to help young Canadians learn more about money and personal finances - BMO reminds parents that they can give their children a head-start on investing and saving by introducing them to the world of finance at an early age.
"The sooner parents start talking to their kids about money, the better prepared they will be when they start saving and investing for their future," said Serge Pepin, Vice President, Investment Strategy, BMO Asset Management. "Even very young children can benefit from learning basic investing skills and the importance of setting financial goals."
Mr. Pepin noted that having the "money talk" has many benefits for children, including:
BMO offers the following tips to help parents open the discussion about money and investing:
Start Early: Give a young child a piggy bank and explain why people save and why every nickel matters. When they start school, introduce them to simple investment terms and discuss stock market basics. As they mature, begin investing in real companies with real money and discuss their progress together.
Partner Up: As your child gets older, consider setting up a custodial account and having him/her contribute part of their savings, and perhaps offer to match any contributions the child makes. The act of investing will help them learn how to make real decisions and take real risks down the road.
Make It a Habit: Continuous learning helps children digest information more easily and lets them know that it is okay to talk about money and finances. Build conversations about saving and investing into daily interaction, such as during dinner or on the way to school.
Keep It Personal: Make the conversation age-specific and use examples that resonate. For example:
Talk With Our Kids About Money Day, launched on April 17th, 2013 in schools in the Greater Toronto Area and Montreal, is an initiative of CFEE in partnership with BMO Financial Group. Designed to help young Canadians learn more about money and personal finances, Talk With Our Kids About Money features a "Home Program" for families and a "School Program" for students and teachers. The material provided is designed to support provincial governments' desire to integrate financial education into the curriculum and can be used by teachers throughout the school year. The program will be rolled out to other provinces in 2014.
For more information on Talk With Our Kids About Money, visit or visit a BMO Bank of Montreal branch.
Get the latest BMO press releases via Twitter by following (at)BMOmedia.
Contacts:
Media Contacts:
Rachael McKay, Toronto
(416) 867-3996
Valerie Doucet, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
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Datum: 29.04.2013 - 11:00 Uhr
Sprache: Deutsch
News-ID 253716
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TORONTO, ONTARIO
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Commercial & Investment Banking
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