The Canadian Securities Administrators (CSA) is running an online contest that uses video, Facebook and Twitter tips to help youth get financially fit. The ‘Financial Fitness Challenge‘ will help youth increase their financial literacy, and offers a chance to win an Apple iPad or a grand prize of $2,000.
The contest, which runs from February 15 to April 15, 2011, uses interactive tools and scenarios to raise awareness of important financial concepts such as balancing needs versus wants, budgeting, saving and investing. Visitors to the contest website will find four entertaining and informative videos on budgeting, credit cards, investing and investment fraud.
“With close to 60,000 youth actively participating in the challenge over the past four years, the CSA has presented financial literacy education in a format that resonates with youth,” said Bill Rice, chair of the CSA and CEO of the Alberta Securities Commission. “We encourage parents and teachers to continue to develop financial literacy skills in youth by using the Challenge as a fun and informative learning tool.”
The bilingual contest is open to Canadians ages 15 to 21. Participants can invite friends to join the Challenge, and compete with each other at a local and national level. Classroom materials, including lesson plans, are available to download from the Teacher and Parent Resource Centre.
At the close of the contest, 13 entries—one from each province and territory—will be randomly selected from eligible participants to win an Apple iPad. One national grand prize winner will be awarded a $2,000 scholarship.