CBC Digital Archives

Brian Costello: helping kids save

This fun, fast-paced magazine radio program for kids debuted in 1979, the UN's International Year of the Child. Aimed at those aged seven to 14, the program tackled weighty issues such as teen pregnancy, drugs and nuclear power, interspersed with trivia, music, radio plays and more. Kids were heavily involved in the show, conducting interviews, giving news reports and book reviews. Anybody Home? ran until June 1983.

"I have some money and Christmas is coming. How could I increase this money?" young Michael Taylor asks financial expert Brian Costello. After warning against ideas that don't pay any interest, like the piggy bank, Costello zeroes in on the plan that gives the most bang for the buck: the Canada Savings Bond. He calls this the simplest way Canadians have ever known to invest.
  But what exactly is it? Costello explains in this 1981 clip from the CBC kids' radio show Anybody Home? "You see, the government is the biggest company that there is in all of the country, so it needs money to operate... One way it can raise money is to sell what's called a Canada Savings Bond. All that says is that 'I Michael give you, Mr. Government of Canada, my one hundred dollars and I expect you to pay me 19 and a half per cent interest for one year."

• In this clip, Costello lists five places where you can buy Canada Savings Bonds: a bank, a trust company, a credit union, a stock broker and a caisse populaire. The caisse populaire is found primairly in Quebec and is equivalent to a credit union.
  • Costello warns about the appeal of stocks in this clip, saying there is always an associated risk, whereas the Canada Savings Bond has no risk because you can never lose money. He notes that with stocks, "You're not sure where your money is going to go, you're not sure whether that company is going to make any money and you're not sure that the price that you paid for those shares is going to come back to you when you have to sell those stocks."

Medium: Radio
Program: Anybody Home?
Broadcast Date: Oct. 24, 1981
Guest(s): Brian Costello
Reporter: Michael Taylor
Duration: 5:13
Photo: Canadian Money is Pretty! used under Flickr Creative Commons Attribution 2.0 generic licence.

Last updated: February 9, 2012

Page consulted on March 3, 2014

All Clips from this Topic

Related Content

1995: 'Toonie' makes its debut

The Royal Canadian Mint unveils the design for a new two-metal $2 coin.

1989: The (paper) buck stops here

The last Canadian $1 bills roll off the presses in 1989 to make room for the dollar coin.

Personal Debt in Canada

In 1968, Canadians first got their hands on credit cards, making it faster and easier to spend...

Canadian Financial Forecasters

They tell you how to save your money and your financial future, what causes a recession and ho...

Sherry Cooper: the new retirement

Sherry Cooper, of the BMO Financial Group, enlightens us on the new retirement: baby boomers w...

Where's the money for healing?

Well into the second year of its mandate, the Aboriginal Healing Foundation is still finding i...