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The Monnaie Money May 2013 Newsletter. News and tips for better money management and financial literacy.
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MONNAIEMONEY FINANCIAL LITERACY PROJECT
Newsletter My Priorities! My
Future!
May 10th, 2013
Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth.
The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency.
For the past four years the Carrefour jeunesse-emploi de Côte-des-Neiges and the Jamaican Canadian Community Women’s League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal.
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MONNAIEMONEY MAY 2013
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Monnaie-Money Pancake Breakfast 2013
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On Saturday May 4th 2013 at the Manoir Notre-
Dame-de-Grâce, we held our famous Community Pancake
Breakfast for the youth and their families in the Greater
Montreal area.
Present at this event to meet the community were
Helen Fotopulos, Côte-des-Neiges & NDG city
councillor, ING Direct and the Royal Bank of Canada. This
A successful event making a difference in the lives of our youth and our community…
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year, the venue was packed as approximately 300 people
attended to enjoy a breakfast and get more informed to better
manage their finances.
The event was also successful in the way that it
gathered leaders and volunteers from various cultural
backgrounds, age groups, youth and elders who were very
helpful during preparations as well as the closure. All this
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contributed to develop a sense of belonging.
The Carrefour jeunesse emploi de Côte-des-Neiges
and Jamaican Canadian Community Women’s League of Montreal Inc. would like to
thank all the sponsors, partners and participants of
this annual Community Pancake Breakfast, especially the staff at Le Manoir NDG.
Online Resources
A website created by the Autorité des marchés financiers, the regulatory and oversight body for Québec's financial industry:
http://www.tesaffaires.com/index.php/en/
A website from the Financial Consumer Agency of Canada (FCAC), an independent body working to protect and inform consumers of financial products and services:
http://www.fcac-acfc.gc.ca/eng/index-eng.asp
MONNAIEMONEY MAY 2013
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On April 25th, 2013, we presented of our financial education project Monnaie
Money by addressing statistics regarding the financial health
of the Canadian youth population as well as topics discussed with young people
targeted by this project through our workshops (need, desire, budget, consumption,
savings, etc.).
The presentation was given at the Université du Québec de
Montréal (UQÀM), by Maleesa Phommavongsay,
administrative assistant and Monnaie Money project
facilitator as well as a 2008 graduate of UQÀM.
The presentation was
requested from the Association des responsables d’aide
financière des universités du Quebec, a group of
professionals from 17 different universities that is also
concerned about the debt of local as well as foreign student
leaders.
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It showed results from a study of the Financial Consumer Agency of Canada (FCAC) which had statistics about
debt, including overall student debts, usage of financial products and services.
Most students are having a hard time to pay off their
credit cards as well as their school loans. 36% of young
Canadians have a debt of over 10 000$ and more and 1 out of 5 reported a debt of 20 000$
and more.1
Also, about four in ten young Canadians (37%) report that there has been at least one
month in the past year when they did not have enough
money to cover their expenses.
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In conclusion, there needs to
be more partnerships between community
organizations working in financial literacy and the
school system.
1Source: Financial Consumer Agency of Canada (FCAC),
http://www.fcac-‐acfc.gc.ca/eng/resources/surveystudies/youthfinlit2008/youthfinlit2
008_04-‐eng.asp
UQÀM Monnaie Money Special presentation
MONNAIEMONEY MAY 2013
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5 Money saving tips for the summer! Spend your summer wisely…
Cook out. Using the stove or baking in the oven creates a lot of excess heat in your house and uses a lot of electricity. Consider taking time to light up the barbecue, grill outside so that you can keep your house cooler.
Dry laundry outside. If you have the ability to hang up laundry outside, let the sun and warm summer breeze do the drying for you. Even if you can’t hang up clothes outside, try partially drying your clothes and letting the air dry the rest.
Garden up. As the summer begins, it is a perfect time to be on the lookout for plant sales. Growing up your own vegetables and fruits is not only healthier for the body, but it can also save you money.
Enjoy the great outdoors. Try camping instead of booking a resort. It can cost a fraction of the cost of a traditional vacation and it will be a unique experience you will remember. Check the National Park Services and look for a safe campsite near you.
Ditch Your Car. With rising gas prices and nice weather, how much money could you save if you walk, bike or carpool to work? This may take some adjustment, plan ahead to change habits and you will save money as well as getting some exercise. Nothing like doing groceries by bike!
Last but not least…Prepare your summer budget in advance! Need some help?
Check out the online budget calculator of the AMF's site:
http://www.tesaffaires.com/index.php/en/calculators/monthly-budget
Carrefour Jeunesse-Emploi de Côte-des-Neiges 6555, Côte-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Women’s League of Montreal, Inc. 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5
UPCOMING COMMUNITY EVENT…
Join us for a free barbecue and some financial knowledge!
Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941
From 10 am to 1pm!
DATE: July 1st, 2013