Archived - Minister of State (Finance) Stresses the Importance of Financial Literacy for Children in New Video
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Video produced in support of “Talk With Our Kids About Money Day”
March 25, 2014 – Ottawa, Ontario – Department of Finance
Minister of State (Finance) Kevin Sorenson today emphasized the importance of financial literacy in a video to promote “Talk With Our Kids About Money Day,” a day held annually on the third Wednesday of April. The Canadian Foundation for Economic Education, which created this day, has developed a program used at home and in schools across Canada that equips parents, guardians and teachers with a wide range of information, activities and resources to ensure that children develop the knowledge and skills necessary to manage their personal finances throughout their lives.
The Government is committed to improving the financial literacy of all Canadians and supporting parents and teachers in their efforts to prepare children and students to face their financial future. The Financial Consumer Agency of Canada was established by the federal government to strengthen oversight of consumer issues and expand consumer education in the financial sector.
Since 2006, the Government has delivered on an ambitious agenda to improve Canada’s financial consumer protection framework, making it one of the most advanced in the world. The Government is developing a comprehensive financial consumer code, which will create a framework to more effectively protect consumers in a rapidly evolving financial industry. In addition, in Economic Action Plan 2014, the Government announced a number of measures to enhance financial consumer protection and awareness about financial products so that Canadians are able to choose the ones that best meet their needs. Among these initiatives are measures to enhance access to basic banking by ensuring that Canadians can access low-cost bank accounts that meet their current banking needs.
- “Talk With Our Kids About Money Day” will take place on April 16, 2014.
- The Canadian Foundation for Economic Education (CFEE) was established in 1974 to help Canadians make economic decisions with competence and confidence.
- CFEE maintains a database of more than 5,000 classroom teachers, which means its resources and programs have the potential to reach approximately 300,000 students across Canada each year.
- An estimated 400 schools across Canada took part in the “Talk With Our Kids About Money Day” in 2013.
- CFEE has distributed close to half a million copies of resource materials for use by educators in schools across Canada.
“It’s never too early for parents to start to include tips on personal finances among the life skills they impart to their kids, especially given today’s increasingly complex financial marketplace. I applaud the hundreds of schools across Canada that have already registered for ”Talk With Our Kids About Money Day” on April 16 and encourage others to take part.”
- Kevin Sorenson, Minister of State (Finance)
- Video: Minister of State Sorenson on the Importance of Financial Literacy
- Economic Action Plan 2014
- Financial Consumer Agency of Canada
- Canadian Foundation for Economic Education
Office of the Minister of State (Finance)
Department of Finance