Financial Literacy for Youth

This year, F.L.Y. was awarded the U-ROC award as an asset champion!

For those who are unfamiliar with U-ROC, the U-ROC Awards celebrates the achievements of youth, youth groups, and asset champions within the Richmond Community each year.  These awards recognize people who have made a great contribution to youth and the Richmond community.

An asset champion acknowledges adults who have positively contributed or impacted the lives of youth.  F.L.Y. was awarded the U-ROC award due to its initiative in creating a high school curriculum about personal finance and also holding an inspirational personal finance conference to raise awareness about financial responsibility in youth!

We are excited to announce that ING Direct, our title sponsor for Pay It Forward, has offered a generous prize for the conference!

As you know, the Pay It Forward conference will feature several competition-based activities.  Of course, the winning team will be awarded for the enthusiasm, knowledge and teamwork that they display throughout the day.  So, each winning team member will receive a $25 cheque from ING Direct to help kick start their savings!

Best of luck to all teams, and thank you once again to ING Direct!

Tune in to CBC Radio One tomorrow morning to hear F.L.Y. live on air!

Gabrielle Chan, our co-chair for F.L.Y.’s Pay It Forward Conference, will be going on The Early Edition show to talk to host Rick Cluff about our organization and our conference.  Gabrielle will also share with everyone some financial tips and advice, so be sure to tune into 690AM/88.1FM at 8:20am on Thursday May 13! This is an exciting achievement for F.L.Y., don’t miss out!

To find out more about The Early Edition and to listen to the show live online, visit http://www.cbc.ca/earlyedition/.

Hi Attendees,

Thank you very much for signing up for Financial Literacy for Youth’s Pay It Forward Conference! We are really excited to meet all of you on May 15th, 2010!  Here are a few things you should know before the conference this Saturday:

• Please arrive on time at 12:15pm to sign in and find your group
• Use the Gilbert entrance to Steveston-London Secondary School
• You will be receiving a free T-shirt at the conference, so make sure you wear it!
• If there is any reason you need to leave early, please let your University Leaders know before the conference
• Prepare 3-5 thoughtful financial questions you want answered at the conference
• There will NOT be a place for you to store your personal belongings at the conference; so do not bring anything you won’t need, we will provide the materials you need (pens and paper, etc.)

As you know, the conference will have a team-based competition, where you can earn points as a team during different activities throughout the day. Hopefully you have been in touch with your university team leaders by now (if not, please send us an email at inquiries@financeforyouth.ca).  Be sure to display your teamwork, financial knowledge, and enthusiasm to earn lots of points!

Most important of all, we hope you guys have tons of fun!!

From the F.L.Y. Team 2009-10

Pick up a copy of the Richmond Review this Thursday!

The Richmond Review has posted up an article about F.L.Y. and our upcoming Pay it Forward Conference!
Take a look at the online article here: Money Managing Conference for Teens

The article will also be in the paper this Thursday so don’t forget to check it out!

Our Tradeshow Team has confirmed with 13 institutions to come set up booths at our tradeshow. That is already 4 more institutions than last year! With financial professionals from banks to accounting firms to post secondary institutions gathering together, you will have the chance to ask all types of questions and receive expert advice!

Take a look at who is coming:

1. TD
2. BMO
3. Coast Capital
4. Vancity
5. CIBC
6. KPMG
7. Ernst & Young
8. Freedom 55
9. G&F Financial Group
10. UBC Financial Aid
11. SFU Financial Assistance
12. RBC
13. ING Direct

Test your financial knowledge with our Personal Finance Crossword!

Update: Answers are posted – find the link at the bottom of this post!

ACROSS:

3.     Month of the F.L.Y. conference

4.     Legally declared inability to pay creditors

5.     Committing money with the expectation of profit

7.     Net income

10.   Money borrowed that is usually repaid with interest

11.   An obligation to pay or owe something

16.   Protection against future loss

18.   Outflow of money to pay for an item or service

19.   Put into a bank account

20.   A ______ account is a bank account that accumulates interest

DOWN:

1.     F.L.Y. stands for Financial ___________ for Youth

2.     A _____ card is issued by a bank authorizing payment for purchases

3.     Anything that is generally accepted as payment for goods and services

4.     Financial institution that accepts deposits and channels them into lending activities

5.     A fixed charge for borrowing money; usually a percentage of the amount borrowed

6.     Money paid to a government

8.     ________ interest is interest calculated on both the principal and the accrued interest

9.     Exhibition of companies that will be at the F.L.Y. conference

12.   An article of clothing that you will receive for free at the F.L.Y. conference

13.   Pay It _________ is the name of the F.L.Y. conference

14.   A piece of paper that orders a payment of money

15.   There will be two interactive ____________ at the F.L.Y. conference that will teach you personal finance

17.   A sum of money allocated for a particular purpose

The answers can be found here.

Now that graduation is coming up, are you considering living on your own? Are you confident in your own money management skills?  It is important to have some basic understanding of how to manage your personal finances before making important decisions to move out, rent, or even get a mortgage.

This article will give you some great financial tips and advice on saving:

http://www.theglobeandmail.com/globe-investor/investment-ideas/investor-education/investopedia/retirement-savings-tips-for-18-to-24-year-olds/article1523254/

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

“The Short and Simple Story of the Credit Crisis.” – Crisisofcredit.com

For those of you who are wondering how this whole crisis got started – here is a very clear and visual explanation.  It doesn’t require much background knowledge at all.  The video starts very simply, and build upon the idea step by step.

Video found via Information Aesthetics

-Tony

Thanks for visiting the newly revamped FLY website, now powered by WordPress!  Hopefully nothing has changed on the front end – but if you notice anything wonky, please let us know!

The new site being powered by WordPress means that updates are much easier to make on our site.  Ideally that would make updates to this site more frequent and more relevant to you!

The FLY team is currently working hard to bring you the ‘Finance Beyond High School’ conference!  We are currently looking for tradeshow presenters, speakers and volunteers!  If you are interested in helping us out, please contact us.

Check back soon!