Monnaie Money Newsletter - May 2013


Published on

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

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Monnaie Money Newsletter - May 2013

  1. 1. MONNAIEMONEY FINANCIAL LITERACY PROJECTNewsletterMy  Priorities!  My  Future!  May 10th, 2013Financial literacy provides the foundation of saving andinvesting wisely. It is the basics for the responsible use ofcredit and money and the making informed financialdecisions that can affect our families and our future. TheMonnaieMoney Financial Literacy Project will providefundamental tools for youth.The objective of the project is to bridge the gap between whatpeople know and what they need to know with respect topersonal financial skills and provide opportunities forpersonal empowerment and enhanced self-sufficiency.For the past four years the Carrefour jeunesse-emploi de Côte-des-Neiges and theJamaican Canadian Community Women’s League of Montreal Inc. have been very active inpromoting financial literacy to the wider community in the city of Montreal.Content1234
  2. 2. MONNAIEMONEY MAY 20132Monnaie-Money Pancake Breakfast 20131On Saturday May 4th2013 at the Manoir Notre-Dame-de-Grâce, we held ourfamous Community PancakeBreakfast for the youth andtheir families in the GreaterMontreal area.Present at this event tomeet the community wereHelen Fotopulos, Côte-des-Neiges & NDG citycouncillor, ING Direct and theRoyal Bank of Canada. ThisA successful event making a difference in the lives of our youth and our community…2year, the venue was packed asapproximately 300 peopleattended to enjoy a breakfastand get more informed to bettermanage their finances.The event was alsosuccessful in the way that itgathered leaders and volunteersfrom various culturalbackgrounds, age groups, youthand elders who were veryhelpful during preparations aswell as the closure. All this3contributed to develop a senseof belonging.The Carrefour jeunesseemploi de Côte-des-Neigesand Jamaican CanadianCommunity Women’s Leagueof Montreal Inc. would like tothank all the sponsors,partners and participants ofthis annual CommunityPancake Breakfast, especiallythe staff at Le Manoir NDG.Online ResourcesA website created by the Autorité des marchés financiers, theregulatory and oversight body for Québecs financial industry: website from the Financial Consumer Agency of Canada(FCAC), an independent body working to protect and informconsumers of financial products and services:
  3. 3. MONNAIEMONEY MAY 20133  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  Université  du  Québec  de  Montréal  (UQÀM),  by  Maleesa  Phommavongsay,  administrative  assistant  and  Monnaie  Money  project  facilitator  as  well  as  a  2008  graduate  of  UQÀM.    The  presentation  was  requested  from  the  Association  des  responsables  d’aide  financière  des  universités  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-­‐­‐eng.asp  UQÀM Monnaie MoneySpecial presentation
  4. 4. MONNAIEMONEY MAY 201345 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 lotof electricity. Consider taking time to light up the barbecue, grill outside so that you can keep your housecooler.Dry laundry outside. If you have the ability to hang up laundry outside, let the sun and warmsummer breeze do the drying for you. Even if you can’t hang up clothes outside, try partially drying yourclothes 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 upyour 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 costof a traditional vacation and it will be a unique experience you will remember. Check the National ParkServices 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 youwalk, bike or carpool to work? This may take some adjustment, plan ahead to change habits and you willsave money as well as getting some exercise. Nothing like doing groceries by bike!Last but not least…Prepare your summer budget in advance! Need some help?Check out the online budget calculator of the AMFs site:
  5. 5. Carrefour Jeunesse-Emploi de Côte-des-Neiges6555, Côte-des-Neiges, # 240Montreal, Quebec, H3S 2A6Jamaican Canadian Community Women’s League ofMontreal, Inc.5465 Queen Mary Rd, # 300Montreal, Quebec, H3X 1V5UPCOMING COMMUNITY EVENT…Join us for a free barbecue and some financial knowledge!Brian Smith, MonnaieMoney Project Coordinator(514) 342-5678 ext. 228 / (514) 817-3941From 10 am to 1pm!DATE: July 1st, 2013