Today marks the beginning of the 9th edition of Financial Literacy Month (FLM). Throughout the month of November, the Financial Consumer Agency of Canada (FCAC) and organizations from across the country have activities planned in support of this year’s theme, Take Charge of Your Finances. Each week will feature a sub-theme focusing on the benefits of basic money management practices. This year’s sub-themes are:
- Week 1 (November 3 to 9) – Start with a budget
- Week 2 (November 10 to 16) – Set financial goals
- Week 3 (November 17 to 23) – Be a smart financial consumer
- Week 4 (November 24 to 30) – Borrow money wisely
FLM is an opportunity for Canadians to strengthen their capacity to make responsible financial choices. Canadians are encouraged to participate in FLM and take simple steps to better manage their money. This year’s FLM activities touch on basic money management practices, such as making a budget, drawing up a savings or debt reduction plan, and gaining a better understanding of one’s rights and responsibilities as financial consumers.
Quotes
“Strengthening the financial literacy of Canadians is a key pillar of our consumer protection mandate. As our financial marketplace grows increasingly complex, it is more crucial than ever that Canadians have the knowledge, skills and confidence to make informed decisions about the financial products and services that best meet their needs.”
Judith Robertson, Commissioner, Financial Consumer Agency of Canada
Quick facts
- Financial literacy is important not only for the financial well-being of individuals, but also for the economy as a whole. Understanding the basics about money is as essential today as numeracy and basic literacy.
- FCAC and the Financial Literacy Action Group first collaborated to create Canada’s first FLM in 2011. Since then, hundreds of organizations have hosted and promoted thousands of events and activities across the country, all with the goal of strengthening Canadians’ financial literacy.
- Organizations are encouraged to get involved by hosting events, sharing resources, promoting FLM on social media, and promoting their resources and events through the Canadian Financial Literacy Database.