Check against delivery
Good morning and thank you for the kind introduction. I am very happy to be here today to speak to you about a subject that is incredibly important to me.
For those who are not familiar with our organization, the Financial Consumer Agency of Canada is a federal Agency, mandated to protect and educate financial consumers. We help financial consumers gain the knowledge, skills and confidence they need to make responsible financial decisions. We want to encourage consumers to take the time to learn about financial products and services, and to pick the ones that best meet their needs.
Now more than ever, it is critical for us to work together toward the goal of strengthening the financial literacy of Canadians, particularly given the rapid pace with which technology is advancing, and changing the way we spend, pay and save money.
In 2009 the Government of Canada gave the Task Force on financial literacy the mandate to look for ways to meet this objective. The report released by the Task Force in 2011 confirmed the importance of improving financial literacy, to ensure the long term financial well being of Canadians and the financial health of the Canadian economy overall.
Underpinning the principle recommendations of the Task Force was the concept of shared responsibility as a means to promote financial literacy.
Members noted that, while there were a number of ongoing efforts across the country, the success of such efforts would likely be more assured if all sectors, private, volunteer, public and academic, worked together .
Which is why, I am particularly proud to be here today, as we launch a new series of e‑learning videos that expand our popular educational program, Financial Basics.
This expansion would not have been possible without the significant support of The Chang School of Continuing Education. This is the sort of partnership that reflects the spirit of the work completed by the Task Force and will enhance the ability of Canadians to respond successfully to their financial situations.
Now before we get into the details about the videos, I would like to tell you a little more about the resource itself.
19 to 29 years of age is a time when learning and applying money management skills can have life-long consequences. So, to bring financial literacy to young adults, our organization worked in close collaboration with the Investor Education Fund (IEF), and financial author Ellen Roseman, who is here today, to develop Financial Basics: A financial literacy workshop.
Launched in September 2010, Financial Basics is designed to be delivered to young adults who are looking to gain a better understanding of how to manage their personal finances.
It deals with :
- budgeting
- living within your means
- credit and debt management
- savings and investing
- financial planning
- and protecting yourself from fraud.
Its content can be delivered as a 5-hour workshop, or in smaller time segments to focus on the needs of the audience and meet time limitations. Tools such as check-lists, activities and self-assessments help make the workshops interactive.
To date we have distributed over 63,000 Financial Basics workbooks to educational institutions, not-for-profit organizations, credit counsellors and financial advisors, and the list goes on. A recent program evaluation calculates the total estimated number of learners reached to be over 360,000!
All workshop materials are available free-of-charge on our website, in English and in French. If you have not done so already, I encourage you to take a look at the program online—360,000 people cannot be wrong!
Now, you may be asking yourself why the need for videos, if the resource is so popular? Well that’s because we all learn differently.
So, with that in mind, we approached The Chang School’s Digital Education Strategies team, an expert in distance learning, to develop a series of eight e-learning videos to enhance the existing Financial Basics workshop materials. The videos extend the reach of the program even further, and increase the flexibility of the workshop materials, making them suitable for use in a wider range of settings and participants.
Canadians can access and use the videos to help improve their money know-how. Seven videos link directly to the workbook content, covering topics such as budgeting, living within your means, credit, debt and financial fraud. Facilitators can integrate them into their workshops, while self-learners can follow them and complete the activities in the workbook. The eighth video gives facilitators practical guidance and tips on delivering a successful workshop.
The videos are dynamic, engaging and, best of all, delivered in an easy-to-understand language and format. I am sure they will be just as popular, if not more, than the paper version.
Before I close, I would like to express my appreciation and gratitude to our Ryerson University colleagues, and in particular, to The Chang School of Continuing Education.
Many of you may not be aware that – The Chang School has been committed to improving Torontonians’ financial literacy for years.
Since 2010, the School’s team has hosted a number of large-scale Financial Basics workshops that are open to the public. I commend Ryerson’s success in bringing this knowledge to so many Canadians who, regardless of their stage in life, want to learn how to cope with today’s financial challenges.
I have been asked by the members of my team to single out a number of you present today, for special thanks. You have worked diligently on the creation of these videos that are about to be brought to life.
Anne-Marie Brinsmead, Elaine Lam and her team, Naza Djafarova and the entire Digital Education Strategies team — my personal thanks for your hard work and dedication. And thank you to Interim Dean Dr. Marie Bountrogianni for being a champion of these efforts. Without your support, we would not be here today.
I also want to thank the video narrators. Many thanks to Stephane Veron for his dedication to this project. Thank you Ellen Roseman, you are a true champion of this cause.
Finally, I would like to thank my team at FCAC for their devotion at every step to the project. It will help Canadians to better manage their money. Thank you all for being here.
With that, I will turn the floor over to the Master of Ceremonies.
