About Financial Literacy Month
What is Financial Literacy Month?
November is Financial Literacy Month (FLM). Under the leadership of the Financial Literacy Leader, FCAC helps coordinate the efforts of, and increase collaboration between, organizations from the private, public and non-profit sectors to promote financial literacy for Canadians of all ages. Strengthening the financial well-being of Canadians is the vision of the National Strategy for Financial Literacy—Count me in, Canada.
Throughout November, organizations and individuals from across the country are invited to participate in events aimed to help Canadians learn how to manage their personal finances successfully.
A complete list of events and resources offered by financial education providers is available in the Canadian Financial Literacy Database.
What is the purpose of FLM 2016?
This year’s FLM aims to rally organizations and individuals across Canada to strengthen the financial literacy of Canadians and empower them to achieve the following goals:
- managing debt wisely;
- saving for the future; and
- understanding their rights and responsibilities.
What is the theme of FLM 2016?
This year’s FLM theme “Managing money and debt wisely: It pays to know!” promotes the idea that different stages of life demand different sets of financial literacy skills, and managing money and debt will help in making responsible financial decisions.
Throughout the month, FCAC will feature weekly subthemes that bring attention to the benefits of basic money management practices and encourage Canadians to reduce debt and save for the future. They are:
Week 1 (November 1-5) - Start with a budget
Week 2 (November 6-12) - Live within your means
Week 3 (November 13-19) - Know your rights and responsibilities
Week 4 (November 20-26) - Have a savings plan
Week 5 (November 27-30) - Review your finances
Why is financial literacy important?
Financial literacy is important for the financial well-being of individuals, but also to the economy as a whole. 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 to understanding behaviour and attitudes behind financial decisions. We also need to understand the financial ecosystem within which these decisions are made.
How can I promote FLM?
Join the conversation on Facebook and Twitter to spread the word and raise awareness about the importance of financial literacy. Use the hashtags #FLM2016 and #ItPaysToKnow to follow and share information on social media.
How can I list my organization’s resources or events in the CFLD?
FCAC invites financial education providers across the country to include their resources and events in the database. Simply login, if you already have an account, or register to submit your information into the database. To ensure the credibility and usefulness of the resources and tools listed, FCAC will review all submissions against a set of publicly-shared criteria before including them in the database.
History of FLM
In 2012, the Parliament of Canada proclaimed each November as Financial Literacy Month.
The first FLM was launched in 2011 with the Financial Literacy Action Group (FLAG) to raise awareness among Canadians and stakeholders about the importance of financial literacy in strengthening an individual’s financial well-being. The first FLM brought together 75 organizations to hold 200 events across the country to strengthen financial literacy.
Since then, the momentum has been building as community organizations, volunteer groups, agencies from all levels of government, employers and private companies have become involved in FLM.
During FLM 2015, 1,480 workshops, seminars and other events were added to the Canadian Financial Literacy Database. Events were held every day of November across Canada. FCAC participated in 39 FLM-related activities.
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