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Bankruptcy Publications and Reports Youth Financial Awareness | ||||
The Financial Guide
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This publication is also available electronically on our Web site: |
Note to teachersYou are hereby authorized to make photocopies of any part of this booklet. |
Julie Barrette
Vivian Cousineau
Catherine Dupont
Geneviève Lavigne
Patrick Veilleux
Patrick Wolfe
Roger Langlois
Mathieu Hains
Stéphane Perrault
Manon Brunet
Anny Robert
The Office of the Superintendent of Bankruptcy (OSB) is the Government of Canada agency responsible for overseeing the Bankruptcy and Insolvency Act (BIA), and ensuring that the act is responsive to market needs. The OSB keeps a public record of all bankruptcies, proposals and receiverships. It sets standards and guidelines for bankruptcy trustees and ensures compliance.
Bankruptcy trustees work with individuals and companies who are faced with insurmountable debt. There are two basic options for debtors. A proposal may be filed with creditors to set up a repayment schedule. Or if this isn't possible, an application is made for bankruptcy protection under the BIA. In the case of a bankruptcy, the trustee sells a debtor's assets to pay creditors.
Over the past 25 years, we have witnessed an explosion in the amount of credit offered to Canadian consumers. This growth in the use of credit has been accompanied by a sharp increase in consumer use of insolvency procedures. Several studies have demonstrated that many consumers have a poor understanding of credit and the harmful consequences of excessive debt. That's why the OSB is dedicated to teaching consumers of all ages about the importance of financial planning, the appropriate use of credit, and ways to avoid or emerge from excessive debt. For more information about dealing with debt, visit: www.osb-bsf.ic.gc.ca
This guide was developed by Laval University Consumer Studies students and University of Ottawa Civil Law students, all of whom are involved in the OSB Student Program. The guide provides advice and activities that we believe will help parents to teach their nine- to twelve-year-olds about financial matters. The advice and activities are only suggestions. If you don't agree with a proposed element or suggested activity, feel free to disregard it.
Children learn at their own pace, depending on their abilities and often on their interests as well. Some kids love math, while others are much more interested in animals. Some even demonstrate extraordinary talent in visual arts. Try to integrate their interests into any proposed activity.
Because you know your child best, you can decide what material in this booklet is most appropriate. In order to help you with that, the middle section offers pages of activities requiring cutting and drawing.
The fact that you are reading this booklet shows that you want your child to learn more about financial matters. Discover how to take advantage of opportunities to put this material into practice: a family trip; a rainy afternoon; right before bedtime, etc. Be sure to add your own advice and activity suggestions, and most of all, have fun!
The Financial Education Cartoon Strips IC 54272B
The Financial Guide for Five- and Six-Year-Olds IC 54397E
The Financial Guide for Seven- and Eight-Year-Olds IC 54398E
The Financial Guide for Thirteen- to Fifteen-Year-Olds IC 54400E
The Financial Guide for Post-secondary Students IC 54273E
The "Decisions" Educational Game (eight- to eleven-year-olds)
If you would like to receive any of these publications, or would like additional copies of this booklet, please contact the OSB Corporate Secretary at the following coordinates:
Vivian Cousineau
OSB Corporate Secretary
365 Laurier Ave West, 8th Floor
Ottawa, Ontario
K1A 0C8
(613) 941-2694
Fax (613) 946-9205
e-mail:
cousineau.vivian@ic.gc.ca
Created: 2006-08-14 Updated: 2006-09-28 |
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