News Release

Calgary-- As many Canadians consider their RRSP contributions over the next few months, securities regulators are encouraging parents to improve their child's or teenager's chances of financial success by introducing them to the concepts of saving and investing.

“Children and teenagers need to have an early exposure to and experience with money to give them a head start,” says Doug Hyndman, Chair of the Canadian Securities Administrators (CSA), the umbrella organization representing the 13 provincial and territorial securities commissions. “If they see their parent investing and begin to understand the basic concepts, they will be in a better position to make financial decisions in the future.”

The CSA recommends that while you are planning your investment strategy and reviewing your financial goals over the next two months, you should take the time to talk to your youngsters about why you are saving money and how it can apply to their own situation. For example, whether it is an 11-year-old who would like a bike or skateboard, or a teenager pining after a new stereo, it may be a great time to explain saving and investing to them and what the risks and rewards might be.

“By helping kids and teens make connections between money and the things they want, parents can help them develop the skills necessary for future financial success,” says Hyndman.

Here are some easy ways that you can participate in your child's or teen’s financial education:

· Set up an allowance and help them manage it
· Help them set achievable goals for saving
· Help them set up a savings account at an early age
· Teach them what interest is and how it works
· Ensure they know that credit is not free money

For more resources on how to talk to your children about saving and investing, contact your local securities regulator or visit the CSA website at www.csa-acvm.ca.

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