We may know what the Pythagorean theorem is, but we don’t know squat about our taxes. In fact, a lot of us, let’s be frank, don’t know much about banking. Period. That’s typically when we put a call into mom and dad.
What’s a balance transfer? How do I pay off my credit card, properly, without accruing oh-no-this-is-neverending interest? What’s the difference between fixed and variable mortgage rates?
It’s OK, you’re not alone.
Prakesh Amarasooriya, a 23-year-old from Toronto, is petitioning the Ontario government to include financial literacy into Grade 10 career studies courses. According to the petition and a recent Investor Education Fund study, Ontario high school students between 14-18 don’t have financial literacy to make informed choices. Only 40% surveyed “felt prepared to manage their money after graduating high school.”
Only 40% surveyed “felt prepared to manage their money after graduating high school.”
Well, at the time of publication, the petition is currently sitting at 938 signatures. Their goal is to reach 1,000 supporters. So what do you think, SLNers, can we help get them there?
The good news is that the Ontario government is listening. In a news release from late last year, the government is taking numerous steps in weaving more financial literacy into the current curriculum. From investing $3 million into financial literacy resources; to developing a video for parents on financial literacy; to “embedding financial literacy into subjects across the curriculum from Grade 4 to 12.”
But is it enough? Is it too late for those already in post-secondary? Have your voice heard.
*Opinions expressed are those of the author, and not necessarily those of Student Life Network or their partners.