The challenge involves a quiz, games, tips and interactive simulations to encourage youth to focus on the importance of saving and investing money for their future. In Slapshot Shopping, for example, humor and hockey are used to teach the importance of balancing financial needs versus wants. Players are given virtual money to purchase a number of necessities and luxuries.

“We want to make smart money management appealing to an increasingly web-savvy generation,” said Attorney General Gerard Greenan.

The quiz is available at www.FinancialFitnessChallenge.ca. Thirteen entries, one from each province and territory, will be randomly selected from eligible quiz participants to win a $750 scholarship. Teachers can download classroom materials and enter a contest to win a gift certificate or a $1000 grand prize.

“I encourage Island youth to log onto the website, play the games and enter the contest,” Minister Greenan added. “Someone on PEI is going to get the $750 prize; it might be you.”

This interactive scholarship contest is sponsored by the Canadian Securities Administrators and administered locally through the Prince Edward Island Securities Office, Office of the Attorney General.

BACKGROUND

The Canadian Securities Administrators (CSA) works to improve the financial literacy of youth. More than 12,000 youth across Canada participated in the contest and registered for a chance to win. The Prince Edward Island contest winner in 2007 was Ben Versteeg.

Teachers are encouraged to use the Challenge as a fun and informative learning tool. Modules and worksheets are available through the Teacher Resource Centre online at www.financialfitnesschallenge.ca/teachers.

The CSA, the council of securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. Their mandate is to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risk, responsibilities and rewards of investing.

The Prince Edward Island Securities Office works to protect Island investors from unfair, improper or fraudulent practices in the marketplace. More information: www.gov.pe.ca/securities