Financial literacy is a hot topic in Canada because Canadians are failing at their financial health. Did you know . . .
- 55% of people are stressed about money?
- 42% of Canadians lack basic financial literacy
- 70% of people live paycheque to paycheque
- debt is rising faster that income and assets
- 2009 had the highest number of personal bankruptcies in history (up 28.4%)
Last year, the government created a task force of 13 people to address the issue of financial literacy in Canada. The mission of the task force is to develop a national strategy on financial literacy in hopes of finding ways for Canada to leverage the variety of programs and resources that currently exist, for the benefit of all Canadians.
A year later, they just released a paper hoping to seek input from Canadians asking a lot of good questions. I have been active voicing my opinions on Financial Literacy and Education in Canada on one of Canada’s premiere financial blog sites www.CanadianFinanceBlog.com. My insights can be read at the following links:
Do your part and share your opinions with the task force. The future of financial literacy and education in Canada depends on it!
Jim Yih is a financial expert and professional speaker. He puts Financial Education programs into the workplace as a complement to other employee benefit programs. Jim is committed to helping people make better decisions with money through his articles, workshops and educational products. To learn more about Jim visit his website www.RetireHappy.ca
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Its shocking to see the statistics of the poor finance literacy but, the silver lining is that the government is taking measures to uplift the citizen’s financial literacy. The financial literacy being briefed up in 4 parts is truly encouraging and easy to know the financial basics.
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