The launch of the financial culture month 2022

The launch of the financial culture month 2022

Ottawa, ONAnd the November 1, 2022 / CNW / – In the present day, the Client Monetary Company Canada (FCAC) Commissioner Judith Robertson fired 12The tenth Annual Monetary Literacy Month in a digital occasion that brings collectively people and stakeholders devoted to selling monetary literacy in Canada. Joined by Commissioner Robertson Governor Financial institution of CanadaTeff McClem, who offered notes on the financial surroundings and what Canadians ought to think about when managing their funds.

Every November, FCAC and its companions in Monetary Literacy Month host occasions and share info and assets to assist Canadians enhance their monetary data, expertise, and confidence.

This 12 months’s theme, Make an necessary change: Managing your cash in a altering world, displays the advanced and altering monetary panorama. Within the context of the rising value of dwelling, rising rates of interest, and document ranges of family debt in CanadaFCAC highlights debt administration. All through the month, FCAC, in collaboration with organizations throughout the nation, will deal with progress Making a Significant Change: The National Financial Literacy Strategy 2021-2026 Serving to Canadians handle their money owed and obtain their monetary objectives.

FCAC encourages Canadians to go to Get sensible ideas and instruments for managing cash and debt.

Every week in November has its personal sub-topic associated to the subject of debt administration.

1-5 november

Discover your monetary steadiness: Discover the precise steadiness between every day spending and debt administration

November 6-12

Managing your money owed: Create a plan to repay your money owed

From 13 to 19 November

Plan for the longer term: Keep away from borrowing cash sooner or later by saving to attain your monetary objectives

November 20-26

Borrow cash correctly: What to think about earlier than borrowing cash and perceive the distinction between good debt vs dangerous debt

November 27-30

Know your rights: Know your monetary rights when borrowing cash

The Nationwide Monetary Literacy Technique is a framework for making a extra accessible, inclusive and efficient monetary ecosystem for all Canadians. It identifies debt administration as one of many constructing blocks for customers to attain monetary resilience.

As a companion article to the Nationwide Technique, FCAC . has been revealed Counting Change: A Measurement Plan for Evaluating the National Financial Literacy Strategy 2021-2026. The Measurement Plan is a name to motion for stakeholders within the monetary ecosystem to observe and consider progress in the direction of nationwide technique objectives, together with a collective impression evaluation to assist Canadians construct monetary resilience.


“Monetary Literacy Month is a reminder that there are numerous instruments out there to Canadians to assist them plan the price range, repay debt, and set monetary objectives. What’s necessary to us as a authorities is to assist make life inexpensive — and good monetary literacy is a part of that. I encourage Any Canadian excited by spending a while this month and studying extra about how they handle their cash. It is by no means too late to start out a private monetary plan.”

Her Excellency Mrs. Chrystia Freeland, Deputy Prime Minister and Minister of Finance

“Monetary Literacy Month supplies the chance to spotlight the efforts of many organizations throughout the nation that work tirelessly all year long to advance monetary literacy and enhance outcomes for customers within the Canada. Given the challenges many Canadians face within the present financial surroundings, this 12 months’s deal with debt administration is well timed and acceptable. The FCAC appears to be like ahead to the continued assist of all stakeholders within the monetary ecosystem as we launch the Measurement Plan and start to account for the change we’re making collectively to assist Canadians construct monetary resilience.”

Judith RobertsonMonetary Client Company Commissioner Canada

fast Info

  • Position of the Monetary Client Company Canada is to guard monetary customers by selling the monetary tradition of Canadians and by overseeing the compliance of federally regulated monetary entities, together with banks, with Legal obligations, codes of conduct and general obligations.

  • The FCAC and the Monetary Literacy Working Group began Monetary Literacy Month in Canada in 2011. In the present day, lots of of organizations from the non-public, public and not-for-profit sectors are concerned in selling Monetary Literacy Month and organizing occasions and actions throughout the nation, with the frequent purpose of enhancing the monetary literacy of Canadians.

  • The imaginative and prescient of the FCAC Nationwide Technique for Monetary Literacy is to Canada The place everybody can construct monetary resilience in an more and more digital world. It represents an necessary shift from a deal with particular person behaviors in the direction of tackling the boundaries that forestall or restrict many Canadians from reaching higher monetary outcomes.

  • The Nationwide Monetary Literacy Technique Measurement Plan was primarily based on consultations with stakeholders throughout the nation, together with neighborhood teams, the monetary companies trade, governments and regulators, researchers, and different key gamers, to leverage their insights and study concerning the metrics they’re at present utilizing.

  • Monetary Literacy It contains the abilities and talent to make knowledgeable monetary choices, in addition to actions or behaviors that result in optimistic monetary outcomes. Monetary literacy is an important ability, as is studying and writing.

  • monetary flexibility It’s the capacity to adapt or persevere by means of predictable and unpredictable monetary decisions, difficulties and shocks in life.

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