November is Financial Literacy Month.
Students from Pinetree Secondary School in Coquitlam share their thoughts about how they want to become "money smart" after recently participating in a financial education course by Edward Jones Canada.
The following submission was written by Suina Lee in Grade 10.
Being a "money smart teenager" is crucial for several reasons.
Financial literacy is a key life skill and learning it now can empower teenagers to make informed and responsible decisions about money.
It equips us with one of the most important and essential life skills that will serve us well in adulthood.
As a teen, developing a solid understanding of concepts such as budgeting, saving, and investing lays the foundation for a lifetime of financial well-being and responsible habits.
Understanding the basics of credit, loans, and debt management is essential to avoid financial pitfalls as well.
It allows teens to make more informed decisions about our money and reduce the likelihood of financial crises.
Moreover, with the rising costs of education, having financial awareness is essential for making informed choices about post-secondary education and managing associated expenses.
With the increasing complexity of financial products and the rise of digital transactions, being money smart equips us to navigate the financial landscape with confidence and resilience.
Additionally, being money smart empowers teens to pursue higher education and career goals without being burdened by financial stress.
Overall, being a money-smart teen in Canada is an investment in one's future financial well-being and fosters a sense of responsibility and independence in order to set the stage for a secure and prosperous future.