CANsave is a financial literacy program designed by EnactusOC students for elementary school students. The program is designed to teach students about financial responsibility and communicates important life lessons such as the advantages of having a savings account, understanding debt, the value of saving for the future, and helping those in need. Participants are taught fundamental financial lessons using a simulated economy. CANsave’s modules are designed to coach children on financial literacy early on, teaching them important money management skills. The lessons are intended to provide children with the tools and knowledge needed to become financially responsible in adulthood.
The CANsave project is nationally recognized and is utilized by teachers and students in every Canadian province and territory; it has impacted over 50,000 Canadian children and has seen over $40,000 donated to local charities since the first class in January 2016.
The project launched with a focus on teaching financial literacy skills to early primary students and has since expanded its reach to include students all the way up to grade 6. CANsave has won numerous awards, including a first-place finish at the Enactus National Exhibition in 2019.
In 2020, CANsave added a module designed for children with unique learning needs. The module’s structured curriculum incorporates visual aids, concrete language, interactive games, and social stories to support diverse learning. The program educates children on the social skills needed to engage in monetary transactions. It provides an opportunity for children, who often retain information best through alternative learning styles, to develop financial life skills and make important financial decisions.
In addition to the project's broad reach, its online modules and videos lessons proved to be a fantastic resource for Canadian teachers as the pandemic struck and learning moved online. Financial literacy is an important skill set for all ages and supplying the tools for children to learn important financial concepts early on, establishes a basis for success in later life. Providing financial literacy education and resources enables our project to, in turn, invest in human capital. When individuals learn how to make good financial decisions, they apply these skills throughout their lifetimes enhancing the well being of themselves, their families, and the economy.