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FCAC's Financial Literacy NewsLetter

If you would like to share a financial literacy success story with FCAC, please contact Martine Bélanger: martine.belanger@fcac-acfc.gc.ca.

CCFL takes financial literacy on the road

The Canadian Centre for Financial Literacy, a division of SEDI, is taking financial literacy on the road in November! In partnership with local organizations, the CCFL will co-host Conversations with Community, a series of forums in major urban centres across Canada. These forums will engage community organization staff in discussions about their priorities, innovations and challenges in financial literacy and the creation of financial inclusion. Participants will build their skills, share tools and resources, and contribute to the development of a financial literacy outcome evaluation strategy.

If you would like to receive an invitation to a forum in your area, please email info@sedi.org with FLM (Financial Literacy Month) and the name of your province in the subject line.

SEDI is a national non-profit Centre of Excellence whose mission is to transform the financial well-being of Canada's economically vulnerable people by conducting innovative research, program and policy development. In 2008, SEDI founded the Canadian Centre for Financial Literacy, a national network dedicated to supporting financial literacy capacity across the country. SEDI is also manager of the TD Financial Literacy Grant Fund, providing grants to non-profit organizations that serve economically disadvantaged persons and groups in Canada to support and promote financial literacy. For more information, visit the following websites at: www.sedi.org and www.theccfl.ca.

 Credit Education Week Canada celebrates fifth anniversary

From November 14 to 18, Credit Canada and Capital One will host the fifth annual Credit Education Week Canada (CEWC), with a theme focused on increasing financial literacy about Canada's growing "sandwich generation."

Credit Canada and Capital One are very excited to launch a great week of activities, beginning with our Professional Development Day on November 15 at the Toronto downtown YMCA. The kick-off event will feature Neil Pasricha, author of The Book of Awesome, and an amazing group of senior executives representing government, industry and the not-for-profit sectors. They will share their views and provide information on the many financial literacy products and services provided by various community and government agencies. The CEWC launch event is free and open to the public.

The CEWC fifth National Essay Contest is growing in popularity, with thousands of creative essays being submitted by grade 12 students from across the country. New this year is the Credit Conquest Story Contest. With a chance to win a $5,000 grand prize, contest participants must submit their personal stories describing how they successfully conquered their credit challenges and how it changed their lives. Contests run from September 16 to October 21.

A major highlight of CEWC will be the gala dinner being held November 16 at the Toronto Four Seasons Hotel. Attendees from business, government and not-for-profit agencies will honour our contest winners and hear from a special keynote speaker.

For more information about all Credit Education Week Canada activities, including details about both contests, visit: www.crediteducationweekcanada.com.

 ABC Life Literacy Canada and TD Bank Group announce inaugural Financial Literacy Week

In May 2011, research firm Ipsos Reid released survey results showing that more than half of Canadians admit needing help with their financial management skills and that they would also like to improve their financial literacy and math skills.

In light of these results, ABC Life Literacy Canada, a national non-profit in the field of adult literacy, with founding sponsor TD Bank Group, are launching a national awareness and engagement campaign with Financial Literacy Week, October 30 to November 5, 2011. The goal of the week is to increase the financial literacy and math skills of Canadians through access to tools, resources and community events and celebrations.

Proud to be kicking off Financial Literacy Month, ABC Life Literacy Canada has tailored a dynamic national schedule that includes free financial literacy seminars offered by various community organizations across Canada, a public event with financial expert and TV personality Gail Vaz-Oxlade, an online national roundtable discussion and an ongoing online dialogue where Canadians have the chance to share their tips and knowledge with each other while also making a personal promise to themselves to take action to increase their skills and comfort level.

You, too, can get involved. Help elevate the financial literacy and numeracy discussion into everyday conversation:

• organize a financial literacy seminar in your centre
• visit FinancialLiteracyWeek.ca and make your personal promise
• submit a tip that helps increase the financial knowledge and confidence of Canadians.

IEF offers a wealth of financial information, tools and activities during Financial Literacy Month

The Investor Education Fund (IEF) is an award-winning non-profit organization founded by the Ontario Securities Commission that provides unbiased and independent financial resources to help people make better money decisions. During Financial Literacy Month, IEF will continue its work to strengthen the knowledge, skills and confidence of Canadians through new and innovative tools and programs and its website GetSmarterAboutMoney.ca.

IEF plans to introduce additional online money tools, including quizzes, polls, feature articles and calculators that help Canadians get answers about money issues that matter. IEF will also add more leading Canadian financial personalities to the Masters of Money blogging program, which gives Canadians access to practical financial strategies, from the experts.

In addition, IEF will bring the innovative Funny Money program to high school assemblies across the country throughout the fall, in partnership with the Investment Industry Regulatory Organization of Canada. This program educates students about the basics of personal finance, including money management, credit, debt and savings, through a unique presentation format that makes a lasting impression on students. Funny Money comedians will undertake an intense Financial Literacy Month tour in November to promote the importance of financial literacy.

IEF also plans to offer Financial Basics workshops at Ontario community colleges throughout November, in partnership with the Association of Canadian Community Colleges. Financial Basics was developed by the FCAC and IEF in collaboration with author and journalist Ellen Roseman.

For more information, visit: GetSmarterAboutMoney.ca.

Improve your "hiring literacy": What to look for, what to ask when hiring a financial planner

Now in its third year, Financial Planning Standards Council (FPSC) and the Institut québécois de planification financière (IQPF) have jointly declared October 17 to 23, 2011 as Canada's Financial Planning Week. During the Week, each organization will be spearheading industry events and public outreach activities as part of their ongoing efforts to make financial planning an integral part of Canadians' lives.

FPSC encourages Canadians to improve their "hiring literacy" and learn more about and become more engaged with the financial planning process. To make sure Canadians get the most out of their initial discussion with a financial planner, FPSC suggests asking these questions:

1. What are your qualifications?
2. What experience do you have?
3. What services do you offer?
4. What is your approach to financial planning?
5. Will you be the only person working with me?
6. How will I pay for your services?
7. How much do you typically charge?
8. Could anyone besides me benefit from your recommendations?
9. Are you regulated by any organization?
10. Can I have it in writing?

Canadians should be aware that financial planning is unregulated in most Canadian provinces, meaning anyone can call themselves a "financial planner". However, over 18,000 planners across Canada have voluntarily earned Certified Financial Planner® certification, which embodies rigorous standards in education, examination and work experience. CFP® professionals abide by a code of ethics and adhere to rules of conduct and practice standards; they also complete continuing education activities every year.

Financial Planning Standards Council (FPSC) is the not–for–profit organization that licenses CFP professionals in Canada, develops and enforces professional standards and raises awareness of the importance of financial planning. FPSC's Value of Financial Planning study shows that 76 percent of respondents who deal with a CFP professional felt more "on track" with their financial affairs. To learn more or find a CFP professional near you, visit www.fpsc.ca.

Junior Achievement educates young Canadians in financial literacy, entrepreneurship and work readiness

For over 55 years, as the largest non-profit education organization in Canada, Junior Achievement has been delivering programs that have inspired and prepared over 3.7 million youth to succeed in a global and ever changing economy.

Last year, over 230,000 students in more than 400 communities benefited from over 1.4 million hours of instructional time delivered by more than 13,000 dedicated business mentors. Delivered free of charge, JA programs are intended to support student development along three major axes, financial literacy, work readiness and entrepreneurship.

JA is proud to be an active participant in Financial Literacy Month, and supports the government's efforts to integrate financial literacy into the curriculum. In addition to a planned press release and media event that focus on a recently completed value creation study, the organization looks forward to participating in a series of speaking engagements, and highlighting its financial literacy leadership through its partnership with a key stakeholder.

JA's financial literacy programs, Dollars and Sense and Economics for Success, both of which target the middle school curriculum, are designed to bring to students real-life experiences and challenges that model the free enterprise system. As a result, students gain an appreciation of what is required to be successful in their personal lives and in the workplace.

By inspiring youth to make better financial decisions, develop a career plan and become innovative leaders, JA Canada is the link between education and the working world. For more information please visit www.JAimpact.com.

Date Modified:

2011-09-30

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