THUNDER BAY — Thunder Bay Counselling says more than 9,200 children in the city are living in low-income households.
The agency has announced a series of free community events to help ensure these youths get the kind of education that will improve their financial stability.
Manager of Financial and Child/Youth Services, Sheri Fata, said "We hear more every day about poverty and the financial struggles facing low-income and working families in Thunder Bay...There is evidence that having even a small amount of money set aside for a child's post-secondary education and training increases the likelihood they will pursue options beyond high school."
Thunder Bay Counselling will host Education Savings Day at its office at 544 Winnipeg Avenue on Nov. 19.
Information will be provided about the Canada Learning Bond and Registered Education Savings Plans.
The Canada Learning Bond is money the federal government adds to an RESP for eligible children from low-income families born in 2004 or later.
The agency is also providing free financial counselling this week at two workshops at the public library, and will launch its first drop-in financial counselling service on Nov. 26.
That service will be provided every Tuesday afternoon.
Studies show as many as one-quarter of Canadians are experiencing significant financial hardship.
Consumer debt among millennials recently hit a new high.
Fata said "The statistics around Canadian debt levels and spending habits are scary, and they get worse every year."
She said Thunder Bay Counselling aims to provide impartial, unbiased advice about financial decisions to people of all ages and socio-economic backgrounds.
"Our financial counsellors are here to help reduce stress," Fata added.
