What is Financial Literacy About?

Financial literacy builds students' understanding of personal finances, the local and global economy and the results of their choices as consumers so that they can make informed financial decisions throughout their lives.

Why is financial literacy important for Ontario students?

• In today's complex world, young people need a wide range of skills and knowledge to make informed choices. Financial literacy will help students to:

• carefully consider their financial choices. This can apply to everyday decisions, like buying groceries or going out for dinner, to bigger investments, like paying for tuition or buying a car;

• understand basic money management and budgeting, including paying bills on time and using credit responsibly;

• develop their own perspectives on financial matters, such as interest rates, mortgage rules or the Canadian or global economy;

• become knowledgeable and responsible citizens who are able to participate fully in society and confidently decide where and how to invest their money as well as protect their privacy online;

• stay financially stable and healthy throughout life; and

• understand the impact of economic choices on the world in which they live

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