Financial Literacy

“The most basic definition of financial literacy is having the knowledge, skills and confidence to successfully carry out the financial transactions encountered in everyday life.” -
​Canadian Foundation for Advancement of Investor Rights (FAIR), Financial Literacy Matters, Sept. 2009.​
Kirsten Stark, Financial Literacy Coordinator writes; 
"Financial Literacy is a hot topic today for valid reasons. In 2009, FAIR reported, “The problems are real, and they are getting worse. Nearly half of Canadians read too poorly to operate in today’s complex world, and their numeracy scores are worse. Debt levels are too high, and savings too low. Financial products are becoming harder to understand just as individuals are forced to take more responsibility for their social safety net. Too many Canadians have limited or no pension coverage. Financial fraud is a large and growing problem.”
At the time FAIR called for “all levels of government to join together to establish a national financial literacy strategy and to devote the resources to see it implemented. The financial services industry has already demonstrated a willingness to step up with funding for financial literacy programs.”

In December 2010, Cariboo Chilcotin Partners for Literacy (CCPL) received funding from the TD Financial Literacy Grant Fund to develop and deliver financial literacy programming to economically disadvantaged persons and groups in 100 Mile House, Williams Lake, and First Nations communities.

More information on nationwide initiatives can be found here:  www.prospercanada.org.
In February 2011, the Task Force on Financial Literacy submitted its recommendations on a national strategy with these five themes:
  1. Shared responsibility – requires all hands on deck.
  2. Initiative requires a national champion – lifelong learning knows no boundaries.
  3. No magic bullet – financial literacy is an essential life skill acquired through lifelong learning and practice – at home, at school, in the workplace, through community organizations.
  4. Need to deliver and promote financial literacy effectively, for example create a single-source website referring people to other trusted resources.
  5. Accountability must be built in to gauge the effectiveness of the strategy and measure progress over time."​
CCPL is partnering with local financial institutions, non-profit organizations and service agencies to prioritize the delivery of programs to our clients. The highest priority topics are Budget/Money Management, Home Financing, Financial Planning, Credit/Debt, and Income Tax.

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