Canadians and Their Money

promoted in the public awareness campaign (see Recommendation 19). The toolcould also be very useful to agencies and other organizations offering financialliteracy programs and services.Recommendation 21The Task Force recommends that the Government of Canada use existing research andbest practices to make available and promote a financial literacy self-assessment toolfor Canadians.Awards for ExcellenceAs another means of building awareness, we considered the value of competitionsand awards in the field of financial literacy. Research shows that recognition is oneof the most powerful means of motivation, as well as a way to bring attention to anissue or recipient.Several financial sector organizations hold money-related challenges and competitionsfor students, awarding various prizes and gifts (see Figure 12). For example:• The Canadian Securities Administrators hold an annual Financial FitnessChallenge that aims to raise awareness, among Canadians aged 15 to 21,of financial skills such as budgeting, saving and investing;• The Autorité des marchés financiers sponsors Bourstad, an annual contest thatinvolves the simulation of stock market transactions on the Internet, and in whichstudents in secondary school, CEGEPs and university, as well as the generalpublic, can participate; and• The Investor Education Fund, in partnership with the Ontario Business Educators’Association, hosts the Saving and Investment Challenge for students in grades 9and 10 and the Financial Reality Check Award for those in grades 11 and 12.We encourage more private sector organizations to get involved in this area, eitherthrough partnerships or by spearheading their own competitions for students and/orteachers. While the objective would be to raise awareness of financial literacy, such68TASK FORCE ON FINANCIAL LITERACY – IV. Delivery and Promotion