Launch of the Financial Fitness

N.S. SECURITIES COMMISSION--Launch of the Financial Fitness Challenge Contest

Young Nova Scotians are invited to take part in the Financial Fitness Challenge, a unique online interactive quiz running April 2 to April 30.

People aged 15 to 21 are invited to try games, a quiz, tips and interactive simulations to learn the importance of saving and investing money for their future. The aim of the Canadian Securities Administrators-sponsored project is to make smart money management "cool" to an increasingly web-savvy generation.

Last year, 1,048 young Nova Scotians participated in the challenge.

"This tells us that young people have a thirst for learning about saving and investing information," said Chris Pottie, compliance examiner and investor education contact for the Nova Scotia Securities Commission.

This year, the Canadian Securities Administrators has added a number of interactive games. One of the most exciting is Slapshot Shopping, where youth are given $200 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 versus 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 challenge, available at www.financialfitnesschallenge.ca, features questions and facts about budgeting, saving and investing in a format focused on students' experiences. Thirteen entries, one from each province and territory, will be randomly selected from eligible participants to win $750.

Teachers are encouraged to use the challenge as a fun, informative learning tool. Teachers' resource materials can be downloaded at www.financialfitnesschallenge.ca/teachers. Teachers can also enter a contest for a chance to win a $100 gift certificate from Staples.

"The learning tools are entertaining and instructional," said Ms. Pottie. "I strongly urge teachers to use them."

The Canadian Securities Administrators is a council of provincial and territorial securities regulators that co-ordinate and harmonize regulation for Canadian capital markets. Its 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 risks, responsibilities and rewards of investing.