Canadian high school gradates expect to earn over $70,000 and own a home within ten years. In reality, this is wishful thinking, according to the National Report Card on Youth Financial Literacy issued by BCSC.
A recently released study of financial literacy among Ontarians found that most people had a basic grasp of financial concepts yet struggled to apply them to their personal situations. “We found that certain financial concepts are reasonably well understood by the majority of Ontarians,” says Tom Hamza, president of the Investor Education Fund. “But this […]
The first quote is from a report prepared by Professor Saul Schwartz of Carleton University for the Institute for Research on Public Policy (IRPP).
The Financial Planning Standards Council (FPSC) and its Quebec counterpart, the Institut québécois de planification financière (IQPF) have set the date for Canada’s third annual Financial Planning Week. October 17-23, 2011 will be dedicated to an ongoing effort by both organizations to make financial planning the cornerstone of sound financial management. “The goal of Financial […]
The OSC has allocated nearly $2 million in settlement money from enforcement proceedings to help promote financial literacy education in Ontario schools. “Financial literacy is an important part of investor protection and the OSC supports educational efforts to help Ontarians develop the skills and knowledge needed to succeed in an increasingly complex financial world,” said […]
The Canadian Securities Administrators (CSA) is running an online contest that uses video, Facebook and Twitter tips to help youth get financially fit. The ‘Financial Fitness Challenge‘ will help youth increase their financial literacy, and offers a chance to win an Apple iPad or a grand prize of $2,000. The contest, which runs from February […]
Reaction to the final report by the Task Force on Financial Literacy has been overwhelmingly favourable, with several industry groups volunteering to provide education and assistance. The federal government was also quick to welcome the report, entitled Canadians and Their Money: Building a brighter financial future. (Click here to download a PDF of the report) […]
Urgent action is needed to improve the financial literacy of Canadians, as individuals must increasingly take responsibility for their own future, according to the Task Force on Financial Literacy. The task force submitted its final report to the federal government this morning. “Financial literacy is critical to the prosperity of Canadians and the nation,” said […]
The Certified General Accountants’ Association of Alberta (CGA Alberta) today launched ‘My Money $ My Future,’ a campaign designed to help high school students make informed and effective decisions in managing their finances. “Canadians need a better understanding of the financial choices available to them and the consequences of those choices,” says John Carpenter, MBA […]
Rising personal debt loads and insufficient retirement savings seem to be pointing to the fact that financial literacy education should start at an earlier age in Canada.