Ottawa, June 28, 2012 – Today, the Financial Consumer Agency of Canada (FCAC) announced the winners of its latest contest encouraging youth to enrol in The City, an online interactive resource that teaches students money management.
High school students Gina Paquette, Haileybury, Ontario; Molly Rainforth, Lacombe, Alberta; and Akshita Kaur, Surrey, British Columbia, will each receive a laptop computer.
“Congratulations to these students, who can now put into practice on their own laptop computers the budgeting and personal finance skills they learned in The City,” says FCAC Commissioner Ursula Menke. “The City gives them tips on managing their money and understanding their financial responsibilities.”
The students who participated in the contest had to complete four modules of The City and a follow-up quiz. The three winners were randomly selected from the qualifying contestants.
The City was developed by FCAC and the British Columbia Securities Commission to help educators teach young people the fundamentals of managing personal finances. The program teaches money management through eight characters facing common financial circumstances at different life stages. Students learn the difference between needs and wants, budgeting, managing money, building savings, using credit wisely, insurance and how to avoid fraud. Learning these lessons in the virtual world helps students to avoid making financial mistakes in the real world.
With educational materials and interactive tools, the Financial Consumer Agency of Canada (FCAC) provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with legislation and industry commitments intended to protect consumers.
You can reach us through the FCAC Consumer Services Centre by calling toll- free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: itpaystoknow.gc.ca.
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Media Relations Officer