Breaking News - Tariff Support - The Chamber is your source for Tariff Updates. Check out our page for the latest Tariff Resources, SUpport & Events
Peterborough + Kawarthas Chamber of Commerce
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics

the business Case for Financial Literacy

11/23/2016

 
Picture
November is financial literacy month in Canada.  Strengthening the financial well-being of Canadians is the vision of the National Strategy for Financial Literacy—Count me in, Canada. The federal government ministry in charge of this program is the Financial Consumer Agency of Canada (FCAC).  The 2016 campaign is called “Managing money and debt wisely: It pays to know” and includes the themes of budgeting, rights and responsibilities, and having a savings plan.  While this program applies to all Canadians, there is no doubt as to the importance of students learning about finance and how to responsibly manage personal, as well as  business finances.    

The Ontario Chamber Network has had a policy resolution on the books for several years now calling for a more focused and dedicated high school curriculum around financial literacy.  The resolution peers into the future and suggests that one reason for adjusting the curriculum is that there may be a need for Ontarians with non-traditional
business skills to run their own businesses.  Another point made in the resolution is that Canadian household debt hit record levels in 2015 with roughly 80% of the population in debt. Half of all consumer spending (retail and housing) occurs in Ontario and BC alone. 

Ultimately, the resolution concludes by urging the Ontario Government to:
  1. Create a mandatory grade eleven Introduction to Business and Commerce course from existing business and family economics curriculum and designate it as a compulsory credit to obtain the Ontario Secondary School Diploma.
  2. Dedicate a specific section of the course to financial literacy.  This would include, but not be limited, to personal and family budgeting, the value of credit, mortgages, insurance, debt management, and accountability to pay.
  3. Promote in all school districts in the province, the Specialist High Skills Majors (SHSM) program in the area of business and commerce, a ministry-approved specialized program that allows students to focus their learning on a specific economic sector while meeting the requirements to graduate from secondary school. 
The above recommendations were passed in May of this year at the Ontario Chamber of Commerce Annual General Meeting in Oakville.   

Let’s break them down.
  1. A mandatory course in Grade 11 that is required for high school graduation.  With volunteer hours now required in order to receive your Ontario Secondary School Diploma, a dedicated financial literacy course certainly has the potential to be the next graduation requirement.
  2. Dedication to personal and family budgeting basics benefits the economy as a whole by ensuring an educated workforce and consumer-base.  
  3. Here in Peterborough, Holy Cross Catholic Secondary School has a Specialist High Skills Major in Aerospace/Aviation.  The program offers students nine credits including two for cooperative education.  You can find more on the program on the Holy Cross website: hccss.ca.  These types of programs, if approved by the Ministry, can help an area develop a workforce that is pertinent to its needs.   
As part of ongoing efforts outside of the advocacy realm, the Ontario Chamber of Commerce has partnered with a program called “Funny Money” (funnymoneyinc.com).  The program is geared toward high school students and is about “empowering students with the knowledge they need to make good financial choices.” High schools can contact [email protected] to learn more about the session. 

Having a population armed with the tools and knowledge to manage finances is a proactive approach to ensuring a productive economy. 
​
#FLM2016


Comments are closed.

    Author

    The Peterborough and the Kawarthas Chamber of Commerce acts as a catalyst to enhance business growth, opportunity, innovation, partnerships and a diverse business community. 

    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    January 2015

    Categories

    All

    RSS Feed

Copyright Greater Peterborough Chamber of Commerce.  ​All rights reserved.
175 George Street North, Peterborough, ON, K9J 3G6
Phone: (705) 748-9771  |  (705) 743-2331  
Home    |    Calendar    |   Site Map   |    Privacy    |    Accessibility
Join the Chamber
Picture
MemberClicks