Financial Literacy  

We’re committed to educating the public to help individuals become self-sufficient so that they can achieve financial stability.

Providing these skills can help a person develop a financial ‘road map’ to identify what they earn, what they spend and what they owe.

Financial Literacy was defined in a 2010 Report of Recommendations on Financial Literacy as, “having the knowledge, skills and confidence to make responsible financial decisions.”

• Knowledge refers to an understanding of personal and broader financial matters;
• Skills refer to the ability to apply that financial knowledge in everyday life;
• Confidence means having the self-assurance to make important decisions; and
• Responsible financial decisions refer to the ability of individuals to use the knowledge, skills and confidence they have gained to make choices appropriate to their own circumstances.

Statistics Canada’s 2014 Canadian Financial Capability Survey confirmed that too many people are under-equipped when it comes to understanding money matters, including reading financial statements, managing credit cards and planning for retirement. The Survey revealed some other interesting statistics when it comes to Financial Literacy.