How financially literate are you? That question was at the heart of an October 1, 2020, online event entitled ‘Financial Literacy: Are you smarter than a fifth grader?’ put on by Erica Ehm and the YMC (Yummy Mummy Club). YMC is Erica Ehm’s online community for moms that ‘shares the collective experience of motherhood, unfiltered’.

I was the guest of this fun and lively evening event, which was designed to demystify financial literacy for Moms and parents. Now that financial literacy has been added to the math curriculum in Ontario elementary schools, many parents want to be prepared to answer their children’s questions.

We started the Facebook Live event with a short quiz, asking those in the YMC community six questions to see how they stack up in terms of financial literacy. We then walked through the answers, as well as responding to questions from other participants. If you’re interested in trying out the quiz and seeing how you stack up, tune in to this video.

A tip sheet for parents on talking to children about financial literacy also can be downloaded from my website. It provides five tips for talking to children about money and investing and also points to some other resources, specifically about talking to kids about financial literacy elements, that people can turn to for additional assistance.

Earlier this year, we discussed the introduction of financial literacy in the new Ontario math curriculum in a blog post entitled Teaching kids about money — yes, please. In my opinion, financial literacy is an important life skill that can help set one up for success down the road.

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My approach to investing is straightforward. I study the markets, global economies and what’s happening within industries to be in a position to best help my clients find good quality investments that will help them meet their goals. I build custom portfolios for each client. I welcome you to call me at 416-332-3863 or email me at allan@allansmall.com.