Online Videos, Contest Help Youth Get Financially Fit, Win Big

Young Nova Scotians can play an online contest, using videos, Facebook and Twitter tips, to get financially fit and earn handsome rewards.

The Canadian Securities Administrators Financial Fitness Challenge aims to help youth increase financial literacy and offers a chance to win an Apple iPad or a grand prize of $2,000.

The challenge runs from Feb. 15 to April 15 at FinancialFitnessChallenge.ca and uses interactive tools and scenarios to raise awareness of important financial concepts such as balancing needs versus wants, budgeting, saving and investing. This year, visitors to the site will see four new entertaining and informative videos on budgeting, credit cards, investing and investment fraud.

"Last week, the Task Force on Financial Literacy specifically recommended that Canadian youth receive more and better financial education," said Natalie MacLellan, investor education and communications co-ordinator for the Nova Scotia 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 and offers youth an opportunity to invite friends to join the challenge, and to compete and engage with contest participants at a local and national level. Classroom materials, including lesson plans, are available to download from the Teacher and Parent Resource Centre.

Thirteen entries, one from each province and territory, will be randomly selected from eligible participants to win an Apple iPad, and one national grand prize winner will be awarded a $2,000 scholarship.

The Nova Scotia Securities Commission is a member of the Canadian Securities Administrators, the council of securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.