About Financial Literacy Month
Text version: Video to mark the last day of Financial Literacy Month 2022
Hello. I’m Judith Robertson, Commissioner of the Financial Consumer Agency of Canada.
As we reach the end of Financial Literacy Month, I want to personally thank everyone who supported and participated in this year’s activities.
I am amazed by the commitment and collaboration of organizations and individuals across the country that make this campaign a success, year after year .
Financial Literacy Month may be over but strengthening financial literacy in Canada is important all year long. And this is especially true in today’s economic environment. Canadians are having to adapt to a complex and changing world, and many are experiencing financial challenges.
I encourage everyone to make the most of the financial tools and resources available on Canada.ca so that you can make informed financial decisions in these changing times.
And I look forward to the continued support of our stakeholder community in advancing the goals of the National Financial Literacy Strategy. We recently launched the National Strategy’s Measurement Plan, and I hope you will join us as we start to measure the impact of our collective progress.
Let’s build on the momentum of Financial Literacy Month. Together, let’s make change that counts!
What is Financial Literacy Month
November is Financial Literacy Month.
During Financial Literacy Month, the Financial Consumer Agency of Canada (FCAC) engages with Canadians and works together with organizations from the private, public, and non-profit sectors to help strengthen the financial literacy of individuals and families and build their financial resilience.
Throughout the month, organizations from across the country are encouraged to host events and share resources aimed at helping Canadians understand their finances and empowering them to:
- manage their money and debt wisely
- save for the future
- understand their financial rights
A complete list of financial literacy events and resources offered by Canadian organizations is available in the Canadian Financial Literacy Database.
Financial Literacy Month supports the National Financial Literacy Strategy 2021-2026 and its goal to help Canadians build financial resilience, so that they can confidently navigate financial decisions in challenging times and a digital economy. All stakeholders in the financial ecosystem have a role to play in helping reduce barriers, catalyze action, and work together, so that we can collectively help Canadians build financial resilience.
Financial Literacy Month 2022
This year’s campaign theme, Make Change that Counts: Managing Your Money in a Changing World, considers our increasingly complex and constantly changing financial marketplace and the importance of managing personal finances to find the right balance. As the cost-of-living increases and interest rates rise, Canadians may need to adjust their budgets to find the right balance between daily spending and paying down debt. The right balance will depend on their financial situation and goals.
Financial Literacy Month 2022 will focus on equipping Canadians with practical tips and tools to help them manage their debt and find financial balance in these challenging and changing times. Managing debt is one of the key consumer building blocks identified in the National Financial Literacy Strategy 2021-2026 that leads to greater financial resilience.
Throughout the month, messages will focus on the following sub-themes related to debt management:
- Week 1 (November 1 to 5): Find your financial balance – Find the right balance between paying down debt and daily spending
- Week 2 (November 6 to 12): Manage your debt – Make a plan to pay down your debt
- Week 3 (November 13 to 19): Plan for the future – Avoid taking on debt by saving for your financial goals
- Week 4 (November 20 to 26): Borrow money wisely – What to consider before borrowing money
- Week 5 (November 27 to 30): Know your rights – Know your financial rights when borrowing money and understand how you are protected as a financial consumer
Promote Financial Literacy Month
Digital images, a social media messages and articles are available to help promote Financial Literacy Month in your community.
Submit resources or events into the Canadian Financial Literacy Database
FCAC invites organizations across the country to include their financial literacy resources and events in the Canadian Financial Literacy Database. Simply login, if you already have an account, or register to submit your information into the database.
FCAC will review all submissions against a set of publicly-shared criteria before including them in the database.
Why is financial literacy important
Strengthening the financial literacy of Canadians is a key pillar of FCAC’s consumer protection mandate. As the financial marketplace grows increasingly complex, it is crucial that Canadians have the knowledge, skills, and confidence to make informed decisions about the financial products and services that best meet their needs. Financial literacy is important not only for the financial well-being of individuals, but also for the economy. Understanding the basics about money is as essential today as numeracy and basic literacy.
Financial literacy research
Financial literacy research is a key part of FCAC’s efforts to improve financial literacy by understanding the behaviour and attitudes behind financial decisions. FCAC also seeks to understand the financial ecosystem within which these decisions are made.
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