Teach ‘em early. That’s the idea behind a new post-secondary scholarship opportunity offered by Brandes Investment Partners & Co.
The program, available to Canadians aged 16 to 22, is designed to impart lessons in financial literacy that will help young Canadians as they move into their earning (and saving) years.
It’s accessible online at brandesscholarship.com.
Participants complete a financial self-knowledge quiz to determine their “money factor”—that is, their fundamental attitudes and behaviours toward money. Once the quiz is complete, participants are encouraged to enter the contest by submitting a 250-word essay based on insights gained from the financial profile generated by taking the quiz.
The Money Factor quiz and profile are intended to help students become more effective in managing their financial affairs and assess three aspects of their money personality:
- their tendency to spend or save;
- whether they generally take or avoid risks; and
- how much interest they have in financial matters.
Deadline for entry is July 20, 2012. Ten post-secondary scholarships of $1,000 will be awarded each year to eligible participants.
“Enabling Canadian youth to better manage their personal finances is an important contribution to their futures, to their families and to the country as a whole,” said Carol Lynde, president of Brandes Canada.
South of the border, Vanguard is targeting an even younger demographic in its aim to improve financial literacy. The program, My Classroom Economy, is offered free to teachers for use in classrooms from kindergarten through the grade 12. It uses a simulated micro-economy to teach students about earning, budgeting, saving and delaying gratification. Information on the program is available at myclassroomeconomy.org.