During the economic downturn in Canada, studies revealed that far too many Canadians were caught with too much debt and not enough savings. The Ontario school system is now taking on the challenge of teaching our kids some financial literacy, in a program to be rolled out in September 2011.
Starting in grade four and straight up to grade twelve, the school system will be helping children learn to use and manage their money. Understanding how money works, how credit cards and mortgages work and overall financial well-being is an integral part of creating lifelong habits that will boost the next generation, and hopefully give our young people a strong advantage when it comes to managing student loans, saving for that first car and surviving between paycheques.
Long overdue, this program has finally caught up with the marketing and advertising beseeched upon our youth via internet and televisions, and updates the current “how to balance your chequebook” criteria to provide valuable skills that every student will indeed use.
