Posts tagged ‘Financial Literacy’

PISA 2015 report on Students’ Financial Literacy (incl Canada country report)

ON May 24, the OECD,  in a news release titled Many Teenagers Struggle to Understand Money Matters,  announced the release of a report on student financial literacy.

From the release: “Around one in four students in the 15 countries and economies* that took part in the latest OECD Programme for International Student Assessment (PISA) test of financial literacy are unable to make even simple decisions on everyday spending, while only one in ten can understand complex issues, such as income tax.”

Canada, whose students generally scored higher than the average, gets its own country report ” Some 22% of students in the participating Canadian provinces are top performers in financial literacy [Table IV.3.2], meaning that they are proficient at Level 5 (compared to 33% in Beijing Shanghai-Jiangsu-Guangdong [China] and 12% on average across the participating OECD countries and economies). These students can analyse complex financial products, solve non-routine financial problems and show an understanding of the wider financial landscape.”

You too can take the test [sample questions only]  http://www.oecd.org/pisa/test-2012/financialliteracytest/ 

Read the blog Dollars and sense? Financial literacy among 15-year-olds.

Check it out! Rowan

 

May 24, 2017 at 4:15 pm Leave a comment

April 19 is Talk with Our Kids About Money Day

Canadian Foundation for Economic Education’s Talk With Our Kids About Money program provides teachers and parents with free tools and resources designed/geared to help them have relevant/age appropriate conversations about money. It includes both a school and home program and includes lessons in both English and French.  It is all for free BUT you do have to register to gain access to the resources.

Check ’em out! Rowan

April 12, 2017 at 8:30 am Leave a comment

Ministry announces Career Studies pilot project

Today, the Ministry made the following announcement: Preparing Students to Thrive in Ontario’s Innovative Economy: Ontario Launches 29 Career Studies Pilot Projects Across Province

From the announcement: “Ontario is partnering with educators on 29 pilot projects across the province to revise the current career studies course and help students develop the skills they need to compete in the rapidly changing and highly competitive global economy.

The career studies pilot projects will include the development of innovative learning opportunities related to financial literacy, entrepreneurship skills, digital literacy, and career/life planning. Teachers will examine ways to:

  • Equip students with the skills and knowledge they will need in the new global economy
  • Help students explore all career paths and opportunities
  • Support the teaching and learning of the course through a variety of new methods”

And: Quick Facts

  • The career studies pilot projects will run until June 2017.
  • The pilot locations represent the geographic diversity of the province, including participation of all four publicly funded school systems.
  • Each of the 29 educators were selected through an application process to participate with their students in their respective pilot project.
  • In 2016, the province announced that instruction on financial literacy would be a mandatory part of the career studies course.Ontario has published two resource guides detailing opportunities and topics related to financial literacy and how it is woven throughout Ontario’s elementary and secondary curriculum.”

Also read today’s Toronto Star article by Andrea Gordon Ontario launches plan to teach high school kids financial skills

Check it out!

Rowan

March 23, 2017 at 1:28 pm Leave a comment

Toronto Youth Cabinet petitioning MoE for more 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 …

Hey , I hear you on ! Good news: We’re improving financial literacy for students!

Check it out! Rowan

 

 

 

 

 

November 18, 2016 at 9:53 am Leave a comment

Websites supporting November Financial Literacy Month

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

Canadian Foundation for Economic Education (CFEE)

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.

Visa. Practical Money Skills Canada.

Check ’em out! Rowan

November 8, 2016 at 2:30 pm 2 comments

MoE: financial literacy & student success and wellness (2 news releases)

Today, the Ministry released 2 announcements / news releases – one on financial literacy, the other on student success and wellness.

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.

Additional Resources

 

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:

Check it out! Rowan

November 3, 2016 at 2:25 pm 1 comment

Financial Education should include payday loans

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:

ONE: The Financial Consumer Agency of Canada – here is the news release and the report   Payday Loans: Market Trends. The Agency recommends the following:

“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.”

TWO: Conference Board of Canada – here is the news release and the report Filling the Gap—Canada’s Payday Lenders 

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

October 26, 2016 at 2:03 pm Leave a comment

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