Investor Education Fund Launches Financial Literacy Month with Ontario's First Financial Literacy Youth Summit

Close to 600 Ontario high school students to participate in event designed to raise awareness of managing debt and saving for the future

TORONTO, Oct. 17, 2012 /CNW/ - On Thursday, November 1, the Investor Education Fund (IEF), a leading Canadian authority on financial literacy education and research, will stage Ontario's first Financial Literacy Youth Summit, designed to be a crash course for high school students about the importance of managing their money. The event kicks off IEF's Financial Literacy Month activities in November, and takes place from 1 p.m. to 3 p.m. (ET) at the Richmond Hill Centre for the Performing Arts.

"Our research has shown that students want to learn about managing money, and they expect to learn it in school," says IEF (GetSmarterAboutMoney.ca) President Tom Hamza. "The Financial Literacy Youth Summit is a fun, engaging way to get students the information they're looking for, in a way that makes it fun to learn."

The Summit will serve to open and sustain dialogue about youth financial literacy in a large public forum of Ontario students and teachers. Close to 600 provincial high school students are slated to participate in the event, which includes the Funny Money for High School Assembly Program, a program where professional comedians discuss the basics of money management in terms that inspire both laughter and learning. Funny Money, sponsored by IEF and the Investment Industry Regulatory Organization of Canada (IIROC), has reached more than 250,000 students across the country.

The inaugural Summit, hosted by journalist, consumer advocate and author Pat Foran, will also feature integrated social media discussion throughout the event, with the intention of spurring ongoing dialogue about student financial literacy. Credit management, the impact of debt and the power of compound growth on savings top the list of timely topics that will be discussed throughout the event.

According to the recently released 2012 Youth Financial Literacy Study from IEF, seven in 10 teens say knowledge of personal finance is important, but only four in 10 feel they are somewhat or very prepared for managing their personal finances after high school. Only about one-quarter say their schools provide them with most or all of the financial information they need.

The Summit is one of many IEF initiatives to help Ontario youth prepare for their financial future and supports IEF's extensive school curriculum tools for Grades 4 to 12. The event also kicks off Financial Literacy Month in Canada, a month-long focus on the hot button financial issues and challenges facing all Canadians. In addition, IEF will also mark the start of Financial Literacy Month by opening the TMX on November 1, 2012, and IEF President Tom Hamza will participate in a discussion on financial education initiatives at a national launch event hosted by the Financial Consumer Agency of Canada (FCAC) in Ottawa.

ABOUT INVESTOR EDUCATION FUND (IEF):

IEF offers unbiased financial information to consumers via www.GetSmarterAboutMoney.ca and to students and teachers through www.InspireFinancialLearning.ca and extensive classroom programs. The non-profit organization was established by the Ontario Securities Commission (OSC) and is funded through OSC-enforcement settlements. IEF was a key catalyst in Ontario's initiative to bring financial education to students in Grades 4 to 12.

SOURCE: Investor Education Fund (IEF)

Contact Margo Rapport
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