For Parents
Planning 10 is a course required by the BC Ministry of
Education for all Grade 10 students. The course starts to prepare students for
life after high school. It covers education and career plans, health, personal
finances and the graduation program.
The BCSC has developed teacher and student materials
(both written and online) for the Finances section of the course. Click
Things You Need to Know
for a summary of the most important things your child will learn in this course. When
young people do the activities in the course, they learn skills that'll help them manage
their money wisely throughout their lives. You can check out some of these
activities below.
Some of the activities ask students to discuss financial topics
with a parent or other adult. Talking about their own and their family finances
will help students learn the financial skills they'll need in real life and
make more realistic plans for their future. Please support your child's
learning by discussing as much of your family finances as you feel comfortable
with.
Investor Education
If you'd like information for yourself on investing (for
example, the basics of investing, choosing a financial adviser, or how to
protect yourself from fraud and scams), click on
For Investors on the BCSC
website.
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FAQ
What are financial life skills?
They're the skills that everyone needs to manage money with
knowledge and confidence throughout life.
My child's only in grade 10. How will he or she be able to use these financial
life skills?
First, young people are using some financial life skills right
now. They make decisions about saving and spending the money they do have.
Second, these and other financial life skills will become even more important
as your child gains independence and starts working part- or full-time, taking
post-secondary education, travelling or living on his or her own.
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Why is it important for my child to learn about finances?
Young people need to be able to manage their money in order to
achieve their life goals, and to avoid expensive mistakes. By learning
financial life skills early, they'll be better prepared to handle the financial
realities of adulthood.
What will my child learn in the Finances section of the Planning 10 course?
- how to tell the difference between the things you need and the things you want
- real-life income and expenses, and how to manage them with the help of a personal budget
- savings and banking
- the upside and the downside of credit and debt
- insurance and how you can use it to manage big risks
- investing - the basics of investing safely and wisely
- how to avoid identity theft and other scams
- how to create your own financial plan
What's a financial plan?
It's a written plan in which you identify your goals and figure
out how you'll manage your money to achieve them. A financial plan is more than
a budget, which looks only at current income and expenses. A good plan will
project a budget for the planning period, identify and manage your assets and
debts, and outline strategies for using all of your resources to reach your goals.
A financial plan should be reviewed and updated regularly.
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How can I help my child with the course?
Most lessons include a "home connections" activity. It asks
your child to talk with you about his or her activities and learning. For
example, your child may ask you what kind of banking services you use or what
kind of insurance the family has. When you do the home connections activities
with your child, you reinforce what your child is learning in class and ensure
that his or her plans and expectations are realistic.
Also, encourage your child to find out more about different
financial topics. You can find more resources by clicking on Links.
Do I have to share personal financial information with my child? If so, will my
child be sharing it with the class?
No and no. Just discuss as much as you feel comfortable sharing
with your child. Your child may write summaries of the discussions you have
together, but these summaries won't be graded at school. Your personal finances
won't be discussed in class. Your discussions with your child are to help your
child make realistic plans for his or her own future.
If my child enters personal financial information on this website as part of
the course work, will it stay private?
Yes. No one can look at your child's online worksheets except
your child. Your child's data is automatically deleted two months after the course
end date that his or her teacher entered for the class. To find out more about privacy and
security safeguards, click on Privacy and Terms of Use.
What if my child asks me a financial question I can't answer?
Not to worry - it happens to teachers all the time! These may help:
- Refer to the Glossary for simple definitions of financial terms.
- The Links section will direct you to a wealth of information about almost every topic
covered in the modules, from banking to taxation, and from insurance to income statistics.
- For more information about investing, click on
For Investors on the BCSC website.
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