Tuesday, January 26, 2015

Financial News

Money Skills are Life Skills 

Family Literacy Day Jan 27

Tashon Ziara, Prospera Credit Union

 

 

want this! Can I have it? Pleeeease! If you’re a parent, no doubt you’ve heard this many times from your kids. How you respond to those requests and what you teach your children about money as a result will impact them for the rest of their life.

 

Money skills are important life skills. The more you teach them at a young age, the better equipped kids will be to make smart money decisions.

 

In celebration of Family Literacy Day on January 27, here are some tips from BC-based Prospera Credit Union to help you get started:

• Make money a regular topic of family conversation. Talk about how you make everyday money decisions and include kids in activities like grocery shopping or budgeting/saving for a family vacation.
• Start them on the road to financial independence. Ask your local credit union to give your kids a tour and open their very own account. Most credit unions offer a free account for children as well as one for young adults up to the age of 25 and all credit union members get free access to 3,300 ATMs across Canada on The Exchange Network.
• Help your kids understand the difference between wants and needs and explore other ways to get the things they want, such as borrowing/sharing or buying second hand items.

About Family Literacy Day

Family Literacy Day in Canada is held annually on January 27 to raise awareness of the importance of reading and engaging in other literacy-related activities as a family. Taking time every day to do a learning activity with children is crucial to a child’s development. Just 15 minutes a day can improve a child’s literacy skills dramatically and can help parents improve their skills as well. Family Literacy Day was initiated by ABC Life Literacy Canada in 1999.

 

What is Literacy?

The United Nations Educational, Scientific and Cultural Organization (UNESCO) defines literacy as “the ability to identify, understand, interpret, create, communicate, compute and use printed and written materials associated with varying contexts. Literacy involves a continuum of learning to enable an individual to achieve his or her goals, to develop his or her knowledge and potential, and to participate fully in the wider society.” However, literacy is much more than being able to comprehend text. Literacy goes hand-in-hand with issues of economics, justice, and social well-being.

 

About Prospera Credit Union

Building on more than 70 years of history in British Columbia, Prospera Credit Union is proud to be a member owned co-operative with operations from Vancouver to Kelowna. As a full service financial institution that prides itself on building relationships, we serve our members through sixteen branches; online and mobile banking; and a locally-based contact centre. Through our membership in The Exchange network, our members enjoy access to more than 3,300 surcharge free ATMs across Canada (that’s right, no ATM fees).

 

Making life better for everyone is important at Prospera. With an extensive community investment program devoted to supporting the organizations, events and volunteers that make our communities stronger, Prospera makes a meaningful difference in the financial well-being of our members and our communities. To learn more, check out Prospera’s YouTube channel and Facebook page or visit the credit union’s newsroom online at prospera.ca.

 

 

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