What do linear algebra and cursive writing have in common? They aren’t used by most Canadians but are still taught in Canadian schools.
Canada’s education system is responsible for educating kids across the country. So why aren’t we teaching them skills they can actually use like financial literacy?
If you have asked yourself this question before, you aren’t the only one.
In 2018, the Canadian Foundation for Economic Education surveyed 6,000 Canadians between the ages of 12 and 17. One participant asked why high schools offered courses for drama but not finances. You can’t exactly act your way out of tax fraud, right? Another survey found that almost all participants agreed that Canadian education needs to include financial literacy.
Almost just as many participants said they would have liked more financial courses in school.
In recent years, many Canadian provinces have taken steps to include financial literacy in their curriculum. One of these provinces is Alberta.
In May this year, Alberta announced that it would invest $5 million in basic financial literacy education programs. These programs will be offered to students in grades 3 to 12 over the next three years.
What can you teach an 8-year-old about money? Well, you can teach them how money works in society. And you can teach them how to save.
Teens can learn things like how to budget and what to do about credit card debt and mortgages.
While Canada’s education system is slowly catching up with the times, financial literacy can only take someone so far. Saving money doesn’t mean you can escape poverty. Buying fewer groceries doesn’t make greedflation any less real.
But financial literacy can help kids learn how to navigate these challenging situations before they’re adults and managing those situations on their own.
After all, Canada’s kids will be leading our future. Teaching them the skills they need to survive and thrive will not only help this generation, but every generation after them, too.
