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Monnaie Money Newsletter - May 2013

Monnaie Money
Monnaie Money

The Monnaie Money May 2013 Newsletter. News and tips for better money management and financial literacy.

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MONNAIEMONEY FINANCIAL LITERACY PROJECT Newsletter My Priorities! My Future! May 10th , 2013 Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth. The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency. For the past four years the Carrefour jeunesse-emploi de C担te-des-Neiges and the Jamaican Canadian Community Womens League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal. Content 1 2 3 4
MONNAIEMONEY MAY 2013 2 Monnaie-Money Pancake Breakfast 2013 1 On Saturday May 4th 2013 at the Manoir Notre- Dame-de-Gr但ce, we held our famous Community Pancake Breakfast for the youth and their families in the Greater Montreal area. Present at this event to meet the community were Helen Fotopulos, C担te-des- Neiges & NDG city councillor, ING Direct and the Royal Bank of Canada. This A successful event making a difference in the lives of our youth and our community 2 year, the venue was packed as approximately 300 people attended to enjoy a breakfast and get more informed to better manage their finances. The event was also successful in the way that it gathered leaders and volunteers from various cultural backgrounds, age groups, youth and elders who were very helpful during preparations as well as the closure. All this 3 contributed to develop a sense of belonging. The Carrefour jeunesse emploi de C担te-des-Neiges and Jamaican Canadian Community Womens League of Montreal Inc. would like to thank all the sponsors, partners and participants of this annual Community Pancake Breakfast, especially the staff at Le Manoir NDG. Online Resources A website created by the Autorit辿 des march辿s financiers, the regulatory and oversight body for Qu辿bec's financial industry: http://www.tesaffaires.com/index.php/en/ A website from the Financial Consumer Agency of Canada (FCAC), an independent body working to protect and inform consumers of financial products and services: http://www.fcac-acfc.gc.ca/eng/index-eng.asp
MONNAIEMONEY MAY 2013 3 1 On April 25th, 2013, we presented of our financial education project Monnaie Money by addressing statistics regarding the financial health of the Canadian youth population as well as topics discussed with young people targeted by this project through our workshops (need, desire, budget, consumption, savings, etc.). The presentation was given at the Universit辿 du Qu辿bec de Montr辿al (UQM), by Maleesa Phommavongsay, administrative assistant and Monnaie Money project facilitator as well as a 2008 graduate of UQM. The presentation was requested from the Association des responsables daide financi竪re des universit辿s du Quebec, a group of professionals from 17 different universities that is also concerned about the debt of local as well as foreign student leaders. 2 It showed results from a study of the Financial Consumer Agency of Canada (FCAC) which had statistics about debt, including overall student debts, usage of financial products and services. Most students are having a hard time to pay off their credit cards as well as their school loans. 36% of young Canadians have a debt of over 10 000$ and more and 1 out of 5 reported a debt of 20 000$ and more.1 Also, about four in ten young Canadians (37%) report that there has been at least one month in the past year when they did not have enough money to cover their expenses. 3 In conclusion, there needs to be more partnerships between community organizations working in financial literacy and the school system. 1Source: Financial Consumer Agency of Canada (FCAC), http://www.fcac-足 acfc.gc.ca/eng/resources/surveyst udies/youthfinlit2008/youthfinlit2 008_04-足eng.asp UQM Monnaie Money Special presentation
MONNAIEMONEY MAY 2013 4 5 Money saving tips for the summer! Spend your summer wisely Cook out. Using the stove or baking in the oven creates a lot of excess heat in your house and uses a lot of electricity. Consider taking time to light up the barbecue, grill outside so that you can keep your house cooler. Dry laundry outside. If you have the ability to hang up laundry outside, let the sun and warm summer breeze do the drying for you. Even if you cant hang up clothes outside, try partially drying your clothes and letting the air dry the rest. Garden up. As the summer begins, it is a perfect time to be on the lookout for plant sales. Growing up your own vegetables and fruits is not only healthier for the body, but it can also save you money. Enjoy the great outdoors. Try camping instead of booking a resort. It can cost a fraction of the cost of a traditional vacation and it will be a unique experience you will remember. Check the National Park Services and look for a safe campsite near you. Ditch Your Car. With rising gas prices and nice weather, how much money could you save if you walk, bike or carpool to work? This may take some adjustment, plan ahead to change habits and you will save money as well as getting some exercise. Nothing like doing groceries by bike! Last but not leastPrepare your summer budget in advance! Need some help? Check out the online budget calculator of the AMF's site: http://www.tesaffaires.com/index.php/en/calculators/monthly-budget
Carrefour Jeunesse-Emploi de C担te-des-Neiges 6555, C担te-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Womens League of Montreal, Inc. 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5 UPCOMING COMMUNITY EVENT Join us for a free barbecue and some financial knowledge! Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941 From 10 am to 1pm! DATE: July 1st , 2013

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Monnaie Money Newsletter - May 2013

  • 1. MONNAIEMONEY FINANCIAL LITERACY PROJECT Newsletter My Priorities! My Future! May 10th , 2013 Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth. The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency. For the past four years the Carrefour jeunesse-emploi de C担te-des-Neiges and the Jamaican Canadian Community Womens League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal. Content 1 2 3 4
  • 2. MONNAIEMONEY MAY 2013 2 Monnaie-Money Pancake Breakfast 2013 1 On Saturday May 4th 2013 at the Manoir Notre- Dame-de-Gr但ce, we held our famous Community Pancake Breakfast for the youth and their families in the Greater Montreal area. Present at this event to meet the community were Helen Fotopulos, C担te-des- Neiges & NDG city councillor, ING Direct and the Royal Bank of Canada. This A successful event making a difference in the lives of our youth and our community 2 year, the venue was packed as approximately 300 people attended to enjoy a breakfast and get more informed to better manage their finances. The event was also successful in the way that it gathered leaders and volunteers from various cultural backgrounds, age groups, youth and elders who were very helpful during preparations as well as the closure. All this 3 contributed to develop a sense of belonging. The Carrefour jeunesse emploi de C担te-des-Neiges and Jamaican Canadian Community Womens League of Montreal Inc. would like to thank all the sponsors, partners and participants of this annual Community Pancake Breakfast, especially the staff at Le Manoir NDG. Online Resources A website created by the Autorit辿 des march辿s financiers, the regulatory and oversight body for Qu辿bec's financial industry: http://www.tesaffaires.com/index.php/en/ A website from the Financial Consumer Agency of Canada (FCAC), an independent body working to protect and inform consumers of financial products and services: http://www.fcac-acfc.gc.ca/eng/index-eng.asp
  • 3. MONNAIEMONEY MAY 2013 3 1 On April 25th, 2013, we presented of our financial education project Monnaie Money by addressing statistics regarding the financial health of the Canadian youth population as well as topics discussed with young people targeted by this project through our workshops (need, desire, budget, consumption, savings, etc.). The presentation was given at the Universit辿 du Qu辿bec de Montr辿al (UQM), by Maleesa Phommavongsay, administrative assistant and Monnaie Money project facilitator as well as a 2008 graduate of UQM. The presentation was requested from the Association des responsables daide financi竪re des universit辿s du Quebec, a group of professionals from 17 different universities that is also concerned about the debt of local as well as foreign student leaders. 2 It showed results from a study of the Financial Consumer Agency of Canada (FCAC) which had statistics about debt, including overall student debts, usage of financial products and services. Most students are having a hard time to pay off their credit cards as well as their school loans. 36% of young Canadians have a debt of over 10 000$ and more and 1 out of 5 reported a debt of 20 000$ and more.1 Also, about four in ten young Canadians (37%) report that there has been at least one month in the past year when they did not have enough money to cover their expenses. 3 In conclusion, there needs to be more partnerships between community organizations working in financial literacy and the school system. 1Source: Financial Consumer Agency of Canada (FCAC), http://www.fcac-足 acfc.gc.ca/eng/resources/surveyst udies/youthfinlit2008/youthfinlit2 008_04-足eng.asp UQM Monnaie Money Special presentation
  • 4. MONNAIEMONEY MAY 2013 4 5 Money saving tips for the summer! Spend your summer wisely Cook out. Using the stove or baking in the oven creates a lot of excess heat in your house and uses a lot of electricity. Consider taking time to light up the barbecue, grill outside so that you can keep your house cooler. Dry laundry outside. If you have the ability to hang up laundry outside, let the sun and warm summer breeze do the drying for you. Even if you cant hang up clothes outside, try partially drying your clothes and letting the air dry the rest. Garden up. As the summer begins, it is a perfect time to be on the lookout for plant sales. Growing up your own vegetables and fruits is not only healthier for the body, but it can also save you money. Enjoy the great outdoors. Try camping instead of booking a resort. It can cost a fraction of the cost of a traditional vacation and it will be a unique experience you will remember. Check the National Park Services and look for a safe campsite near you. Ditch Your Car. With rising gas prices and nice weather, how much money could you save if you walk, bike or carpool to work? This may take some adjustment, plan ahead to change habits and you will save money as well as getting some exercise. Nothing like doing groceries by bike! Last but not leastPrepare your summer budget in advance! Need some help? Check out the online budget calculator of the AMF's site: http://www.tesaffaires.com/index.php/en/calculators/monthly-budget
  • 5. Carrefour Jeunesse-Emploi de C担te-des-Neiges 6555, C担te-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Womens League of Montreal, Inc. 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5 UPCOMING COMMUNITY EVENT Join us for a free barbecue and some financial knowledge! Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941 From 10 am to 1pm! DATE: July 1st , 2013