Financial Literacy for Everyone
tooth fairy

New Tooth Fairy Calculator App
The new Tooth Fairy Calculator app for iOS helps determine what to leave under your children's pillow.
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Practical Money Skills Canada is on Facebook. Click the "Like" button on the top of our Facebook page to follow our financial news and tips.
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for educators

Financial Soccer
The new 2014 FIFA World Cup Brazil game is here. Is your financial knowledge ready for a workout?
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Canada’s Peter Pig’s Money Counter

NEW Canada’s Peter Pig’s Money Counter
Learning about money is fun with Peter Pig. Kids can practice identifying, counting and saving money while learning fun facts about Canadian currency with this interactive educational game.
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Save A Million Calculator

Have you ever wondered how much money you would have if you saved on a regular basis?

Enter your financial information and TAB through the form.

Use the check boxes to choose the frequency of your regular savings and the frequency of the compounding of your interest. The rate of compounding is how frequently your bank or financial institution pays you for the use of your money. The bank pays you a fee for the use of your money that is calculated by multiplying the total balance in your account by the Annual Percentage Rate, expressed according to the period of compounding.

For example, a $100 balance compounded quarterly at 5% would be expressed as 100 times (0.05 divided by 4 or .0125) = $101.25. In the next quarter, the bank pays 5% (annually) on the 101.25 to bring the balance up to $102.52, and so on. Click "Calculate" to find out how much you will have in "X" years and how long it will take you to become a millionaire. Through experimentation, you’ll be able to see the power of compounding interest and the long-term benefits of saving on a regular basis.

Initial Investment
Regular Deposit
Compounding Interest Rate %
Number of Years in Future