The Manitoba Securities Commission encourages parents to talk about holiday spending

Winnipeg, MB, December 15, 2009

With the holiday season upon us, The Manitoba Securities Commission (MSC) is encouraging parents to take some time to talk with their kids about budgeting, debit card use and common sense spending. Earlier this year, MSC developed Make it Count, a money mentoring program for parents and instructors, and has continued to spread the word about youth budgeting and family finance.

With all of the financial consequences that come along with holiday shopping, travel and family get-togethers, parents and youth alike can find themselves falling into debt,  states Don Murray, Chair of MSC. To help prevent children from getting on a cycle of debt, parents and their kids need to have candid discussions about saving and family budgeting from an early age.

The holidays are a perfect opportunity to engage kids in youth money management and it doesnt require shuffling around busy holiday schedules, says Ainsley Cunningham, Education and Communications Manager with MSC. financial education can start with something as simple as getting your child a gift that encourages smart money management such as a piggybank, wallet or one of several books for kids dealing with money and finance. Alternatively mentors can incorporate a simple budget lesson into an existing activity, like buying a gift with your child or having a quick discussion on the cost of transportation on the drive to a relatives. Money matters are not something to be ashamed of; teaching and talking about money should be a shared, open family responsibility.

The Make it Count Guides, and interactive online budgeting program can be accessed at MakeitCountOnline.ca. All resources are free and available in both English and French.