YourMoney for Parents
Financial literacy is an essential life skill. The more confident and knowledgeable your child is about managing money, the better decisions he or she will make later in life. There are a variety of resources available online and in print to help you teach your child about money and finance.
Resources for parents
Smart Start for Kids – Online games and tools for kids, plus information for parents (from CIBC).
Citi Financial Education – Interactive modules for kids, teens and adults (from Citigroup).
The Financial Guide – Free workbooks with games and exercises (from the Office of the Superintendent of Bankruptcy, Canada). Download or order hard copies.
- Five and six year olds
- Seven and eight year olds
- Nine to twelve year olds
- Thirteen to fifteen year olds
- Post-secondary students
The City – Self-guided online modules covering a wide variety of financial topics, designed for high-school-age youth (from the Financial Consumer Agency of Canada).
Youth accounts
Kids learn by doing. One of the best ways for your children to develop money management skills is to open and manage an account of their own to save, budget and learn the value of money. Several banks offer special no-fee accounts for children. Click these links or visit your local branch to learn more.
- BMO Bank of Montreal Plus Plan for Youth and Young Adults
- Canadian Western Bank Youth Account
- CIBC Advantage® for Youth
- Laurentian Bank – The Operations Account for Youth
- National Bank – First Step (ages 6 and under), Cool Cash (age 7 to 12), I.D. (age 13 to 17)
- Scotiabank – Getting There Savings Program®; for Youth
- RBC Leo's Young Savers Account
- TD Canada Trust Youth Account
- HSBC Premier Youth Savings Account
Saving for your children's education
Learn more about registered education savings plans and other tools to help you save for your children's future.
Visit www.canlearn.ca for information about RESPs and student loans, calculators and free publications.
Click these links to download or order by calling 1-800-622-6232.
