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April 3, 2007
For immediate release
“Financial Fitness Challenge” Launched in Prince Edward Island for Students and Teachers
Office of the Attorney General
The contest engages youth with games, a quiz, tips and interactive simulations, to learn the importance of saving and investing money for their future. Thirteen entries, one from each province and territory, will be randomly selected from eligible quiz participants to win a $750 cash award. Since its inception in 2004, the contest has seen substantial growth nation-wide. In 2006, over 20,000 youth participated and registered to win.
“Prince Edward Island has a very high participation rate in this annual contest,” said Attorney General Mildred Dover. “As a former teacher and as Attorney General, I encourage schools to take advantage of the many learning tools which the CSA has made available this year.”
The quiz, which is available at www.financialfitnesschallenge.ca, features questions and facts about budgeting, saving and investing in a format directly focused on the experience of students.
Teachers are encouraged to use the Challenge as a fun and informative learning tool. Resource materials are available on the website. Teachers can also enter a contest for a chance to win a prize worth $100.
This year the CSA has added many exciting interactive games. One of the most anticipated is “Slapshot Shopping,” a game where youth are given $200 of spending money to purchase a number of necessities and luxuries. The game uses humour – and our Canadian love affair with hockey – to teach the importance of balancing needs vs. wants. Other games, called “warm-ups,” include: “The Tradeoffs,” an overview of different investment types; “A Little Goes a Long Way,” a compound interest simulator; and “Budget Breakaway,” a student-focused budget calculator.
The council of securities regulators of Canada's provinces and territories coordinate and harmonize regulation for the Canadian capital markets. The CSA 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.
For information on the Financial Fitness Challenge in Prince Edward Island, contact the Registrar of Securities, Office of the Attorney General, (902) 368-4552, email: firstname.lastname@example.org, website: www.gov.pe.ca/securities