British Columbia

Teenage finance whiz teaches money management for youth in Victoria

15 year-old Rai Goyal manages his parents' retirement investments and will lead an upcoming series of workshops on financial management for teenagers in Victoria.

Rai Goyal, 15, manages his parents' retirement investments and continues to learn about finance

Rai Goyal, 15, is teaching an upcoming series of workshops on financial literacy (Jean Paetkau/CBC)

A 15 year-old high school student in Victoria is leading an upcoming series of workshops on financial management.

Starting next week, Rai Goyal will be teaching a series of workshops on financial literacy for youth 13 to 25 years old at the Greater Victoria Public Library.

"It really just pains me when people don't know about finance," said Goyal. 

Goyal's own financial education started about four years ago when he stumbled across Google Finance, an online tool to track stocks. Out of curiosity, he began to research the terms he saw on the site.

To further his learning, he has shadowed his mother — a financial adviser — for the past two years.

Goyal said he's also been managing his parent's retirement portfolio during that time.

He was inspired to teach the workshops at the Greater Victoria Public Library after taking part in a school course on planning, which included a brief section on financial management.

The guest instructor, an adult who worked at bank, didn't resonate with him and his peers.

"I feel I can connect with teens better, because I'm living their life," said Goyal.

Goyal believes people his age are at an important point in their lives to start learning about how to manage their finances.

"A few of them have just gotten jobs, so they're beginning to realize the importance of money and the value of money in the real world," said Goyal. 

The workshops will focus on three main topics: saving and spending, debt, and types of investments. For more information check the Greater Victoria Public Library website here: Financial Literacy for Youth.

To listen to the full interview, click on the audio labelled: Rai Goyal, 15, teaching financial literacy workshops.

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