Students learn financial literacy

By Janet Kanters Times Editor

It’s well known that Canadian personal debt is at a record high, and Canadian youth are growing up in a time in which spending is easier than ever and debt is a way of life.
But help is available for today’s youth.
Junior Achievement Southern Alberta (JASA) helps youth become financially literate with their Dollars with Sense program. On Nov. 6, close to 200 Grade 7 students at Crowther Memorial Junior High School participated in the program.
Lindsay Desrosiers, JASA’s regional coordinator for the southeast prairie region, recruits volunteers from the local business and financial sector to teach JA programs in the classroom.
“This year, we had employees from RBC, Chinook Financial, TD and Remax REPs Group who educated our students in financial literacy,” she said.
Through JA Canada’s newly updated Dollars with Sense program, Desrosiers said students get the tools they need to make smart financial decisions, live debt-free and become savvy investors. Students learn
personal money management skills that they can apply to their lives, beginning now.
“JA Southern Alberta’s mission is to inspire and prepare young people to succeed in a global economy,” said Desrosiers. “JA programs produce more financially literate graduates who save more and borrow less than the average Canadian; and, Junior Achievers themselves believe JA to be the driving force behind their heightened financial literacy skills of budgeting, long term planning and investing.”
For some time now, Canadians have been carrying high levels of personal debt combined with low levels of savings. People know saving is important, but the reality is many don’t make it a priority,” noted Desrosiers.
“This is why it is so important to educate our youth as they are approaching the age where they will be getting their first job and earning their own money,” she added. “Teaching them from an early age how to properly budget and plan for their future, will only have positive effects that will last a lifetime.”
Youth – and adults – have several options available to ensure they understand finances.
“They can participate in JA programs and encourage their school admin to book JA programs in their schools,” said Desrosiers. “They can create a monthly budget to ensure they are not spending more than they are bringing in. Parents can open savings accounts for their children and teach them the importance of saving and also invest in a RESP to save for their children’s education. And finally, they can talk to a local professional to help them understand their current finances and to create a long-term financial plan based on their future goals.”
Other JA programs running in November include the new More than Money program for Grade 4 students that teaches students about earning, spending, sharing and saving money; and the Our Business World program for Grade 5 students that explores how businesses are created and what makes them thrive.
“This year, we are also very excited to offer students in Grades 5-7 the opportunity to become entrepreneurs through our A Business of our Own program,” said Desrosiers. “Students will create their own product to sell at a year-end market in Strathmore. JASA has partnered with Community Futures Wild Rose who will provide students with micro loans to create their product and the Strathmore Chamber of Commerce who will be providing all the in-classroom volunteer support throughout the school year.”
For more information about Junior Achievement and its programs, visit https://jasab.ca/ or contact Desrosiers at 587-226-4811 or ldesrosiers@jasouthalberta.org.