FCAC launches Financial Literacy Month 2021

Today, FCAC Commissioner Judith Robertson is launching the 11^th annual Financial Literacy Month at a national virtual event, bringing together people and organizations from across the country that share a commitment to advancing financial literacy in Canada.

Strengthening the financial literacy of Canadians is central to the mandate of the Financial Consumer Agency of Canada (FCAC). The financial marketplace is complex and increasingly digital, and many Canadians continue to struggle financially. FCAC is committed to supporting Canadians in these challenges.

This past summer, FCAC released its renewed National Financial Literacy Strategy that lays out a framework for stakeholders to work together to create a more accessible, inclusive, and effective financial ecosystem for Canadians. The theme for Financial Literacy Month, Make change that counts!, is aligned with the National Strategy and encourages organizations across the financial ecosystem to reduce barriers and catalyze actions that will support Canadians in building financial resilience. FCAC has identified actions that stakeholders can take to help advance the National Strategy.

FCAC also has resources and tools for Canadians and stakeholders that can contribute to building financial resilience, including FCAC’s innovative and personalized Budget Planner and information on topics ranging from managing expenses, savings, and debt, to navigating the financial marketplace.

Financial Literacy Month will revolve around four weekly themes.

November 1-6: Managing expenses to keep up with bills and credit expenses

November 7-13: Managing debt to feel in control of your overall debt situation

November 14-20: Managing savings to prepare for financial shocks and unexpected expenses, and achieve your financial goals

November 21-30: Navigating the financial marketplace with knowledge and confidence

These themes are based on the building blocks of financial resilience identified in FCAC’s National Financial Literacy Strategy.

Building on the success of last year’s 10^th anniversary of Financial Literacy Month, FCAC has a number of events and activities planned throughout November. As women have been disproportionally affected financially during the pandemic, FCAC will be hosting a public event for women on November 17. The focus of the event will be on helping women develop money management skills and savings habits to build their financial resilience.

Canadians and stakeholders are encouraged to visit Canada.ca/Financial-Literacy-Monthfor financial tips and tools, and to learn more about this year’s events and activities.

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Quotes

“Financial Literacy Month highlights the importance of building financial resilience, especially in these challenging times. At FCAC, we are proud to be a leader in financial literacy and our renewed National Financial Literacy Strategy is a bold step towards creating a better financial ecosystem for all Canadians. I am excited that this year’s Financial Literacy Month provides an opportunity to advance the priorities of the National Strategy. I applaud the many dedicated organizations across the country that are supporting Financial Literacy Month. And I encourage Canadians to take some time this month to learn more about how they can improve their financial resilience. Let’s Make change that counts!”

Judith Robertson, Commissioner, Financial Consumer Agency of Canada

Quick facts

• The role of the Financial Consumer Agency of Canada is to protect financial consumers by strengthening the financial literacy of Canadians and supervising the compliance of federally-regulated entities, including banks, with their legal obligations, codes of conduct and public commitments. 
• FCAC and the Financial Literacy Action Group began Financial Literacy Month in Canada in 2011. Today, hundreds of organizations from the private, public and not-for-profit sectors are involved in promoting Financial Literacy Month and organizing events and activities across the country, with the common goal of strengthening the financial literacy of Canadians.
• Financial literacy includes the skills and capacity to make informed financial decisions, as well as actions or behaviours that lead to positive financial outcomes. Financial literacy is considered an essential skill, like reading and writing.
• Financial resilience is the ability to adapt or persevere through both predictable and unpredictable financial choices, difficulties, and shocks in life.