Ottawa, Ontario
Today, Financial Consumer Agency of Canada (FCAC) Commissioner Judith Robertson and Bank of Canada Governor Tiff Macklem officially launched the 13th annual Financial Literacy Month at the Bank of Canada Museum in Ottawa.
The theme for this year's Financial Literacy Month, Managing Your Money in a Changing World, reflects a complex and changing financial landscape, and addresses the financial issues most affecting Canadians. FCAC, in collaboration with organizations across the country, will focus on helping Canadians manage their money and debt, and advancing Make Change that Counts: National Financial Literacy Strategy 2021-2026.
Throughout November, FCAC is encouraging Canadians to check up on their financial health, in particular their progress in managing and paying down debt. Managing debt is one of the key consumer building blocks of the National Strategy that leads to financial resilience.
Canadians can visit the Financial Literacy Month page on Canada.ca for practical tips and tools on managing money and debt in today's economic environment.
Financial Literacy Month is also an important opportunity to advance the National Financial Literacy Strategy. FCAC's National Strategy is a five-year plan to create a more accessible, inclusive and effective financial ecosystem for Canadians. It represents an important shift from focusing on individual behaviours to the role of the financial ecosystem - community organizations, the financial industry, governments and regulators, and other key players - in helping Canadians build financial resilience and achieve positive financial outcomes.
Since the release of the National Strategy in 2021, FCAC has focused on conducting research and gathering data to help align financial literacy initiatives with the outcomes of the National Strategy. Last year, FCAC launched Counting Change: A Measurement Plan for the National Financial Literacy Strategy 2021-2026 to track progress on six priority areas for change, such as building and providing for diverse needs and enhancing access to trustworthy and affordable financial help.
To date, 25 organizations have adopted the Measurement Plan. The Measurement Plan will enable FCAC and the financial ecosystem to share progress and maximize the impact of collective efforts to strengthen financial literacy in Canada.
