The Financial Consumer Agency of Canada and Minister Fortier launch the 10th anniversary of Financial Literacy Month
November 2, 2020
Strengthening the financial literacy of Canadians is a key part of the Financial Consumer Agency of Canada’s (FCAC) mandate. The Agency protects consumers through its oversight of federally-regulated financial institutions and helps Canadians develop the knowledge, skills and confidence to manage their finances through its research and education programs.
Today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, and FCAC Commissioner Judith Robertson launched the 10th anniversary of Financial Literacy Month at a virtual event with representatives from the private, public and not-for-profit sectors that share a commitment to enhancing the financial literacy and well-being of Canadians.
Given the financial uncertainty resulting from the COVID-19 pandemic, this year’s Financial Literacy Month is focused on helping Canadians understand their finances and make informed financial decisions in challenging times. In support of Financial Literacy Month, FCAC is sharing “10 Things you should know during times of financial uncertainty”. Canadians are encouraged to take small steps that will have a big impact, such as keeping track of their money, minimizing their debt, assessing their financial goals, and saving for unexpected expenses. Tips and tools are available to Canadians at Canada.ca/Financial-Literacy-Month.
In addition, FCAC is hosting two virtual events to help Canadians manage their finances.
- November 10: “Managing money and debt: Important things you should know” – A free webinar for all Canadians focused on budgeting and managing debt.
- November 19: “It’s Your Money: Make It Count” – A free webinar targeted at post-secondary students and recent graduates interested in learning more about managing their money, delivered in partnership with the Canadian Bankers Association.
During today’s virtual event, FCAC Commissioner Robertson also announced the launch of consultations on the renewal of the National Strategy for Financial Literacy to gather views and ideas on the best approaches for equipping Canadians with the financial knowledge, skills and confidence they need for the road ahead.
“Financial literacy offers Canadians the tools they need to achieve greater financial well-being as we look towards recovery. Our government remains committed to supporting them during these times of economic uncertainty. From our emergency support measures to filling in the gaps in our social safety net through targeted investments, it’s important to keep Canadians informed. Together, we can continue to build a stronger, more resilient Canada.”
- The Honourable Mona Fortier, the Minister of Middle Class Prosperity, and Associate Minister of Finance
“As we mark the 10th anniversary of Financial Literacy Month, we can be proud of the progress that has been made and we are excited to build on what we have learned so far. I am particularly grateful for the contributions of stakeholders from across the country in advancing financial literacy in Canada. This year, Financial Literacy Month takes on increased importance as we face the challenges of the COVID-19 pandemic. Small steps can make a big difference in your finances during times of uncertainty, so I encourage Canadians to take some time this month to explore the tips and tools offered by the Financial Consumer Agency of Canada.”
- Judith Robertson, Commissioner, Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada’s (FCAC) role is to protect financial consumers by strengthening the financial literacy of Canadians and promoting the compliance of federally-regulated entities, including banks, with their legislative 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.
Organizations are encouraged to get involved by hosting events, sharing resources, promoting Financial Literacy Month on social media and through the Canadian Financial Literacy Database.
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