Teaching children about financial literacy before the holidays

TORONTO – Your children’s wish list is probably growing each day as the holidays inch closer.

But one Toronto based website is trying to make sure the items on their list is really what they want.

“Financial literacy is the best gift you can give your children, teaching your children to think before they buy,” said GiftingSense.com founder, Karen Holland.

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GiftingSense.com aims to teach children to think about everything that’s involved in making a purchase, before they ask for something.

“The price of something is just the beginning, you always have to add in transportation, gas, getting to the subway, or shipping, and then sales tax,” said Holland.

The website offers a free two minute quiz where children enter in the gift they want, its price, and how many times they’re going to use it, among other questions.