Ottawa – November is Financial Literacy Month. This year, the Financial Consumer Agency of Canada (FCAC) is launching a Canada-wide campaign to destigmatize conversations about money.
Many Canadians find it difficult to discuss money and finances with family and friends for fear of being judged. To overcome this taboo, FCAC is encouraging Canadians to share their financial experiences with family and friends, ask questions, and consult with trusted financial professionals.
Research shows that having conversations about money builds financial confidence, and that can lead to better financial outcomes. This is especially true for girls and women. For example, FCAC’s research with Carleton University (to be released later this month) shows that providing space for women to talk about finances was enough to help them feel more financially empowered. Conversations about money can also help people learn about resources that can help them improve their financial situation and achieve their financial goals.
This November, FCAC is asking Canadians to do one thing to boost their financial knowledge – such as checking their credit score, talking to a friend about budgeting or using FCAC’s free tools and resources – then share their experience and encourage others to do the same. FCAC reminds people to protect their personal financial information such as their bank account number and credit card details. Canadians can visit the Financial Literacy Month campaign page for more information and for free financial tools and resources. FCAC also has a promotional toolkit to help stakeholders get involved in this year’s campaign.
Financial Literacy Month is an important opportunity to advance FCAC’s National Financial Literacy Strategy, a 5-year plan to create a more accessible, inclusive and effective financial ecosystem for Canadians. This year’s campaign supports the priorities of the National Strategy by helping Canadians build financial confidence and navigate the financial marketplace, as well as enhancing access to trustworthy and affordable financial help. On November 4, FCAC will host a virtual event to launch Financial Literacy Month. The event will feature Olympic gold medallist Bruny Surin, Sara Weller, Chair of the UK’s Money and Pension Service, and other special guests. Registration is now open.