The Canadian Securities Administrators today announced the list of winners of its “Financial Fitness Challenge” for Canadian youth.

This year, the CSA invited youth aged 15 to 21 to take part in the interactive online challenge from February 4 to 29 to learn more about the importance of saving and investing money for their future. There was a 42% increase from last year in the number of Canadian youth who successfully answered online quiz questions and registered to win a scholarship.

Furthermore, while only 53% of youth visiting the Financial Fitness Challenge Web site were very interested in personal finance before completing the CSA’s online challenge, 74% said they were very interested in personal finance afterwards.

“Part of the CSA’s mandate is to improve the financial literacy of Canada’s youth and we are delighted to note that young people are increasingly interested in money management and investments,” says CSA Chairman Jean St-Gelais. “It is especially encouraging that they are becoming more interested in learning about personal finances as they take on the responsibility of earning and handling their own money.”

The website, www.FinancialFitnessChallenge.ca, received 40,793 visits from youth who used the games, tips and other interactive activities — an increase of 18% from 2007.

Teachers across the country were also invited to take the challenge by using the teacher resources on the site in their classrooms. Susan Joy Nowe, a teacher from Colonel Gray High School, in Charlottetown, PEI, won the $1,000 grand prize.

The 12 youth winners each won a $750 scholarship by demonstrating their financial fitness savvy by successfully answering the series of online quiz questions. The winners are:

  • Kaylin Fantin (British Columbia);
  • Tong Li (Alberta);
  • Shalisse Slaney (Saskatchewan);
  • Claudia Muller-Moran (Manitoba);
  • Kailey McLeod (Ontario);
  • Sandra Vanessa Ndikumasabo (Quebec);
  • Nicole Chiasson (New Brunswick);
  • Raphael Schaefer (Nova Scotia);
  • James Martin (Prince Edward Island);
  • Allison Kelly (Newfoundland and Labrador);
  • Stephen Allison (Northwest Territories); and
  • Mariele dePeuter (Nunavut/Yukon).

Although the Financial Fitness Challenge for 2008 is over, the site is accessible year-round, at www.FinancialFitnessChallenge.ca.