MONNAIEMONEY FINANCIAL LITERACY PROJECT
Newsletter My Priorities! My Future!
Get Informed!
April 1st, 2013
Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth.
The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency.
For the past three years the Carrefour jeunesse-emploi de Côte-des-Neiges and the Jamaican Canadian Community Women’s League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal.
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MonnaieMoney Youth Talent Show 2013
Financial literacy Resources
Community Pancake Breakfast 2013
Student Debt
MONNAIEMONEY APRIL 2013
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Monnaie-Money Youth Talent Show 2013
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On February 23rd, 2013 at the Oscar Peterson Hall, we
presented our third annual Financial Literacy Talent Show for the youth in the
Greater Montreal area.
This event got more youth and their families to be acquainted with our program
which helps them become more financially responsible by
A successful event bringing a difference in the lives of our youth and our community…
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improving their Financial Literacy skills.
The contest took place during Black History Month and
allowed up to 50 young artists from the visible minority
communities to demonstrate their creativity and develop a
sense of belonging.
The Carrefour jeunesse emploi de Côte-des-Neiges and
Jamaican Canadian
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Community Women’s League of Montreal Inc. would like to
congratulate and thank all participants of the
MonnaieMoney 2013 youth Talent Show.
We want to congratulate everyone who
participated and wish them all the best with their artistic
endeavors and future projects.
Online Resources
A website created by the Autorité des marchés financiers, the regulatory and oversight body for Québec's financial industry:
http://www.tesaffaires.com/index.php/en/
A website from the Financial Consumer Agency of Canada (FCAC), an independent body working to protect and inform consumers of financial products and services:
http://www.fcac-acfc.gc.ca/eng/index-eng.asp
MONNAIEMONEY APRIL 2013
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•Credit card balances have been carried over by 43% of Canadians – significantly more so than the 34% who stated the same in 2010. •Six-‐in-‐ten Canadians say they save less than 10% of their monthly income, with 15% of these respondents indicating they save nothing. Only one-‐in-‐ten (11%) save 20% or more of their income (down significantly from the 14% who said the same in 2010).
•Four-‐in-‐ten Canadians believe they will be paying
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off their debt/mortgage after they turn 65. The same ratio believes that they’ll have to work past the age of 65 in order to make ends meet. •About half (46%) of all respondents indicate their financial situation has not changed year over year. However, two-‐in-‐five (39%) indicate that their overall financial situation has improved and the reasons cited include: payment of some or all of their existing debt (59%) , an increase in overall household earnings (58%) and general improvement in money management skills (49%). •When asked what kind of money management
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information they would be most interested in, Canadians cite minimizing tax, teaching children about money, avoiding fraud and managing finances overall.
Source: The Canadian Institute of Chartered Accountants (CICA), http://www.cica.ca/focus-‐on-‐practice-‐areas/financial-‐literacy/item66528.pdf
Recent facts about finances and debt…
Carrefour Jeunesse-Emploi de Côte-des-Neiges 6555, Côte-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Women’s League of Montreal 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5
UPCOMING COMMUNITY EVENT…
Join us for a free breakfast and some financial knowledge!
Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941
From 10 am to 1pm!