What happened to the plan to improve financial literacy?

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  • Author(s): Fred Masters
  • Source:
    Record, The (Kitchener/Cambridge/Waterloo, ON). 11/29/2019.
  • Additional Information
    • Abstract:
      Financial Literacy Month in Canada is wrapping up, and you may think that Ontario's students are being equipped with the personal financial knowledge they need to thrive in adulthood now that the province has unveiled the revised mandatory Grade 10 half-credit career studies course. This course was supposed to contain a healthy dose of financial literacy content but, sadly, that's far from the truth. As a matter of fact, our students will receive very little personal financial education in the revised course. Surprised? Read on. You likely have heard many of the deeply troubling financial literacy stats in Canada. More than 40 per cent of Canadians rank money worries as their greatest source of stress - over health, work and even relationship concerns. Our household savings rate is at the lowest point in six decades while more than half of all Canadians feel embarrassed about the lack of control they have over their finances. These pieces create a 'silent financial crisis' as many - stressed out and too frozen by embarrassment - shy away from seeking financial help. [ABSTRACT FROM PUBLISHER]