Financial Literacy in Canadian schools
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Financial Literacy in Canadian schools

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Financial Literacy in Canadian schools. A presenation by Jane Rooney Director, Financial Literacy and Consumer Education. Presented during “The Partnering to Turn Financial Literacy into Action” ...

Financial Literacy in Canadian schools. A presenation by Jane Rooney Director, Financial Literacy and Consumer Education. Presented during “The Partnering to Turn Financial Literacy into Action” Toronto FCAC & OECD conference on May 27-28, 2011.

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Financial Literacy in Canadian schools Financial Literacy in Canadian schools Presentation Transcript

  • Workshop 6:Financial Literacy in Schools Jane Rooney Director, Financial Literacy and Consumer Education, FCAC May 26, 2011
  • Financial Consumer Agencyof Canada - Background • Independent body working to protect and inform consumers of financial services • Established in 2001 by the federal government to strengthen oversight of consumer issues and expand consumer education in the financial sector • 2007 expansion of consumer education mandate to include financial literacy • 2008 ongoing funding for financial literacy
  • Financial Consumer Agencyof Canada - Vision We will increase the financial literacy of Canadians by helping them develop the knowledge, skills and confidence to make sound financial decisions that will enhance their financial well-being.
  • Why Financial Educationin Schools ?• Effective means of reaching greatest audience of youth before they get into financial difficulty• Help youth to choose the right financial product (their first credit card, cell phone contract etc.)• Provide young people with the tools to better manage their financial life and make better- informed consumer choices as they transition into adulthood
  • FCAC’s approach:• Provinces and territories have full jurisdiction over education• Collaborate with provincial and territorial Ministries of Education, school boards, and teachers to provide support for the delivery of financial education in schools
  • FCAC’s Educational Programs
  • The City:A Financial Life Skills Resource
  • The City: A Financial Life Skills Resource(continued) • For high school students (15 to 18) • In partnership with British Columbia Securities Commission (BCSC) • Consulted with teachers across Canada • Identified connections with provincial learning outcomes • Created an interactive, turn key resource for teachers • Developed a ‘train-the-trainer’ model for teachers: • Built network of 19 teacher champions that supports and promotes the resource among their peers. These teacher champions work with their colleagues to help them understand the material they will be teaching; • ‘Webinars’ – online training available for teachers on FCAC website;
  • Financial Basics
  • Financial Basics:Financial LiteracyWorkshop• Improve young people’s (aged 19 to 29) understanding of basic financial concepts and their real-life applications• Developed by the FCAC and the Investor Education Fund (IEF) in collaboration with Ellen Roseman, financial author and journalist• One-day workshop covering topics such as: creating a budget, managing expenses, credit and debt management; protecting yourself from fraud; and saving for the future• Offered at 10 colleges across the country in partnership the Association of Canadian Community Colleges (ACCC), as well as at George Brown College, and Ryerson University
  • Money Apps
  • Money Apps • In partnership with Investor Education Fund and Toronto District School Board • 90 minute workshop to refresh money management skills • Successful pilot project: 400 students attended sessions at Seneca College and University of Toronto
  • FCAC’s Website is Revamped ! Visit www.FCAC.gc.ca