CICA: We need to be taught to manage money when we’re young
Posted January 5, 2011 12:00 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – We need to borrow less, save more, and start to educate ourselves about money at an earlier age. That’s what the Canadian Institute of Chartered Accountants says, adding most of us are not prepared to manage our finances when we enter the workforce.
A Harris/Decima survey also indicates 85 per cent believe financial management skills should be taught in schools to help solve this problem. Nicholas Cheung with the CICA says three quarters of parents have actually tried to teach their kids about money.
He tells us, “Unfortunately, the not-so-good news about it is two-thirds of them feel that they haven’t been that successful. They feel it is an important social issue, but they are worried they haven’t done enough put their kids on strong financial footing.”
While financial literacy should begin at an early age, he says it is a life-long learning skill.
