A Canadian task force established by the federal government in 2009 has now published it findings. Delivering 30 recommendations to ensure Canadians understand financial concepts and make better decisions, the report states our kids need to be educated on money.
The report states that core elementary and high school education across Canada should include financial literacy.
Learning about money, the importance of saving, and managing money is essential. These skills will help Canadians understand everything from saving and paying bills, mortgages, investments and retirement planning.
Banks are thrilled by the recommendations. Other organizations striving for improved public finance literacy also agree with the findings.
The task force developed a blueprint after researching successful financial literacy programs across Canada and globally. They call for the Canadian government to work with both the public and private sectors. Priority should be on life-long learning, reach out to First Nations, immigrants and seniors. It also stated regular progress reports are needed.
Will Canada standardize this type of programming better than it has for its French education across the country?
We wait to see if the government implements a standardized approach to this latest recommendation.
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