Family financial literacy more important than ever

TORONTO, May 13, 2021 /CNW/ - Over the past year Canadian families have seen COVID-19 impact everything from their physical and mental health to their children's education and their personal finances. With many families doing homeschooling and spending more time at home, the time to address the family's financial literacy together has never come at a better time.

The economic impact of the pandemic has caused many families to live on a reduced income, which can lead to added stress and ultimately have an impact on children. According to the National Longitudinal Survey of Children and Youth, parents who worried about money were more likely to have hyperactive and anxious kids compared to those who didn't worry about money.

Talking to children about financial literacy during times of crisis provides an opportunity to equip them with the skills they need to prepare and thrive in emergency situations. Luckily, ABC Life Literacy Canada has just released a new workbook from its HSBC Family Literacy First program that helps families do just that. The workbook, entitled A Trip to the Amusement Park, is part of the Numbers & Cents series that focuses on family financial literacy. The workbook is available in English, French and Simplified Chinese.

A Trip to the Amusement Park can be downloaded for free at FamilyLiteracyFirst.ca and covers basic math such as addition and fractions, as well as timely topics such as financial setbacks and planning for unexpected expenses.

In addition to the downloadable workbook, several short instructional videos on each of the activities will be available. The videos will be recorded by HSBC employee volunteers who will walk families through each of the activities, providing a more interactive learning experience.

"It's never too early to start talking to your kids about money and give them the confidence they need to live a financially secure life," says Mack Rogers, Executive Director of ABC Life Literacy Canada. "We once again thank HSBC Bank Canada for their continued support of this program, which has proven to be more important now than ever."

The HSBC Family Literacy First program was created in 2015 to bring together parents and children to have fun while learning as a family. A Trip to the Amusement Park is the 15^th workbook in the program which includes more than 80 stories and activities, all of which are written in clear language. The workbooks cover a variety of family literacy activities and are ideal for families with children aged six to 11.

"The time has never been better to learn at home as a family," says David Kuo, Head of Branch Network, Ontario, HSBC Canada. "As a participant in the program myself, I have seen the positive impact when families build their numeracy and money management skills together. We're proud to support families across the country on their financial literacy journey."

The HSBC Family Literacy First program has reached families in each province and territory and the materials have been downloaded and distributed more than 835,000 times. Hundreds of HSBC employees from coast-to-coast continue to participate through in-person and virtual workshop facilitation.

To learn more about the program and to access the workbooks, visit FamilyLiteracyFirst.ca.

About ABC Life Literacy Canada
ABC Life Literacy Canada is a non-profit organization that aims to strengthen organizations that
promote adult learning. We develop and support the use of high-quality introductory learning materials and resources written in clear language. We envision a Canada where everyone has the tools and opportunities they need to improve their literacy and essential skills.

For the latest news and information on adult literacy, please visit www.abclifeliteracy.ca, follow us on Twitter @abclifeliteracy or join our Facebook page www.facebook.com/abclifeliteracy.

About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc, the parent company of HSBC Bank Canada, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,984bn at 31 December 2020, HSBC is one of the world's largest banking and financial services organizations.

SOURCE ABC Life Literacy Canada