Posts tagged ‘Financial Literacy’
Yesterday’s Mirror included a special feature article by Tara Hatherly titled Youth Cabinet Helping Improve Financial Literacy (see page 8). See also here. The article is all about the organization Toronto Youth Cabinet‘s (TYC) who met with the Education Minister on November 1 to petition “to have a clearly defined financial literacy component added to Ontario’s Grade 10 career studies course”. Prakash Amarasooriya, who is representing the TYC in this initiative, believes that teachers also require training “to deliver that material in a competent and confident way.”
From the TYC’s web site: “Established in 1998 by Toronto City Council, The Toronto Youth Cabinet is the official youth advisory body to the City of Toronto. The Toronto Youth Cabinet (TYC) is a youth-led advocacy group that promotes youth participation in civic affairs.
The TYC advocates on youth issues with various youth organizations across the city, and promotes youth involvement in policy development. TYC membership is open to youth between the ages of 13 and 24 who live, work, or learn in the City of Toronto.”
The Ministry tweeted …
@TOYouthCabinet, I hear you on #FinLit! Good news: We’re improving financial literacy for students! https://news.ontario.ca/edu/en/2016/11/improving-financial-literacy-for-ontario-students.html … #OntEd
Check it out! Rowan
November is Financial Literacy Month. Here are selected websites with information, lesson plans, games, videos etc. Always review sites critically before using.
Canadian Bankers’ Association. Financial Literacy
EduGains. Financial Literacy.
Faculty of Education at Western and The Investor Education Fund Promoting Financial Literacy. Financial Literacy Resources for Teachers.
Financial Consumer Agency of Canada.
Manitoba Securities Commission. Make it count. An Instructor’s Guide for Youth Money Management.
Credit Counselling Society. My Money Coach. Financial literacy. For Teachers.
Ontario. Ministry of Education.
Ontario Securities Commission. Cranial Cas$ Cla$h.
Ontario Teachers’ Federation. Inspire Financial Learning.
Check ’em out! Rowan
Improving Financial Literacy for Ontario Students. Selected from the news release: Ontario has published two documents detailing opportunities and topics related to financial literacy and how it is woven throughout Ontario’s elementary and secondary curriculum. An updated version of these will be published in the 2016-17 school year.
- Ontario developed this video for parents highlighting how teachers are integrating financial literacy into different subjects
- E-Me is a financial literacy app created in partnership with the ministry for Grade 7 and 8 students promoting best practices for safe and responsible online banking, available through the Apple iTunes Store and the Google Play Store
- Explore the many online resources available on the Financial Consumer Agency of Canada’s Canadian Financial Literacy Database
- Make financial literacy learning fun by taking the Cranial Cash Clash quiz at GetSmarterAboutMoney.ca
Ontario Supporting Student Success and Wellness: Province Seeking Input on Well-Being in Schools . Selected from the news release: The province is consulting with a diverse range of partners in education, health care, youth justice, social services, business, arts and culture and the non-profit sector, as well as francophone partners and communities to incorporate their unique identities, cultural backgrounds and perspectives. The ministry is also working with Indigenous partners to co-develop supports and indicators of well-being for Indigenous students that can help inform the larger well-being strategy for all students.
People can read the engagement paper entitled Well-Being in Our Schools, Strength in Our Society, and submit their views by:
- Providing feedback via the Engagement Portal
- Organizing their own discussions on student well-being by using the Engagement Kit
Check it out! Rowan
The Toronto Star, Business section (p. B1, 5), Wednesday 26, 2016, includes an article by Sunny Freeman titled Payday Loan Report Calls for Financial Education.
This article references 2 reports released on Oct 25 addressing the socio-economic issues attached to Canadians who use payday loans and the impact of high interest rates on debt cycles. While there are calls to the government to control the interest rates and restrict the number of times a borrower can renew the loans, there is also a call for greater education about this issue.
The reports refer to education more as consumer education event and not specifically something that needs to be added to the K-12 curriculum (not mentioned at all). But it has to start somewhere.
Here are the links to the 2 reports:
“6.1. Promoting consumer awareness through educational resources
FCAC will adapt its existing consumer education materials and develop new materials to address the gaps identified through this research. Our goal is to help Canadians make more informed borrowing decisions and to seek appropriate assistance as required.”
From the news release highlights “In addition to considering appropriate regulations, better consumer education would be a critical step in protecting the financial welfare of Canadian payday loan borrowers.”
Check it out! Rowan
November is Financial Literacy Month and the Toronto Star in collaboration with the TD Bank is offering free copies of a financial literacy program for grades 7- 12. Teachers must reserve the resource (25 student copies, 1 teacher PDF guide) before October 26.
From their site:
“This unit lets students look at ways to manage the money in their lives. It looks at some of the financial choices that are available to them and examines the rewards and consequences of their financial decisions.
Student loans. Credit cards. Saving for studies after high school. These are just some of the money choices that they will need to deal with by the time they finish high school. Now is the time for them to begin thinking about some of the choices that they will soon need to make.
Your Money Matters! provides practical, real-world money management examples that will help students develop critical thinking, decision-making and problem-solving skills.”
Check it out!
Released this morning, and from their news release, the ” Minister of State (Finance) Kevin Sorenson and Financial Literacy Leader Jane Rooney today launched the National Strategy for Financial Literacy—Count me in, Canada at an event held at the YMCA of Greater Toronto. The strategy is a call to action for all Canadians to gain the knowledge, skills and confidence they need to make good financial decisions.
- The National Strategy for Financial Literacy will engage public, private and non-profit organizations to help Canadians attain three goals:
- manage money and debt wisely
- plan and save for the future
- prevent and protect against fraud and financial abuse”
To get more information,here are some useful links associated with the Financial Consumer Agency of Canada:
- Financial Consumer Agency of Canada (FCA)
- FCA Financial Literacy Database
- FCA You Tube video series
- FCA foundation document Count Me In web page and pdf
Read today’s Globe and Mail article Financial Literacy is a ticking Time Bomb by Rob Carrick
K-12 teachers should be checking this out!
April 15 2015 was Talk to Our Kids About Money Day. It is a program created by the Canadian Foundation for Economic Education and sponsored by BMO. The website includes two toolkits: for for schools (Grade 7 students, teachers) and a home program (all ages). The school toolkit includes a variety of classroom ideas and activities supporting the different curricula areas, teachers guides, useful Canadian links. You will need to register to gain access to the resources. The CFEE site also provides access to a variety of other programs, eg Youth and Money, and Managing Your Money In Canada.
Check it out