The Financial Basics Workshop, first introduced at Durham CAS in 2010, has improved the money management knowledge, skill and confidence of more than 200 youth. By the end of the six-hour program over 70% of the participants were able to achieve a financial literacy assessment score of 90% or better versus just 24% who scored at this level at the start. Attendees enjoy and appreciate the learning experience. One attendee wrote “I am impressed with the amount of information I gathered – it was an excellent program and I learned a lot! Thank you!” Another youth, rated the workshop as ‘Excellent’
Durham CAS Children’s Services Workers, who provide support during the workshop sessions, value the Money School Canada teaching approach that uses an innovative combination of skits, role-play, ‘real life re-enactments', and practical, hands-on activities to teach money management basics. The varied instructional strategies and age-appropriate content ensure that all participants benefit regardless of their learning preference or starting aptitudes. Amy Heaslip, a Children’s Services Worker with Durham commented “I appreciated the vast coverage of financial issues that are reality-based, useful and necessary for anyone entering the financial world.” After attending the workshop all twelve Durham Children’s Services Workers gave the Financial Basics workshop top marks – assigning an average satisfaction rating of 9 out of 10.
“Many youth involved with CAS don’t have support from family, that’s why we do everything we can to help improve the skills, as well as the self-confidence, of the youth we serve.” says Brad Bain, Director of Children and Youth Services at Durham CAS. “This training will be a very important component of ensuring the future success of our youth. Financial literacy is crucial so they are better equipped to manage their money as young adults.”
The Financial Basics Workshop, customized specifically for CAS, covers ten areas of personal financial management including: (1) Making Smart Money Choices (2) Setting Financial Goals (3) Developing a Savings Plan (4) How Banks Make Money (5) Investing Basics (6) Making a ’Real Life’ Budget, (7) Budget Types and Managing Budget Deficits (8) Borrowing (9) Credit Bureaus and Scoring and (10) Managing Your Credit Rating.
“The workshops are designed to inspire young people of all ages to take control of their money. Our hands-on activities walk participants through critical learning such as making a savings plan, creating a budget and using a credit card responsibly”
Thousands of young Canadians have benefitted from Money School Canada’s financial literacy workshops among them CAS youth in the care of Durham Children’s Aid, Native Child and Youth Services and Jewish Family and Child Services. Under the newly signed agreement, between Durham CAS and Money School Canada, it is estimated that an additional eighty youth will improve their financial literacy knowledge.
FOR MORE INFORMATION:
DURHAM CHILDREN’S AID SOCIETY
Shane Vieira, Manager, Communications & Community Relations
MONEY SCHOOL CANADA
Tricia Barry, Executive Director