A number of organizations have joined together to raise awareness of the need for financial literacy declaring November as the second annual Financial Literacy Month in Canada.
The Financial Literacy Action Group (FLAG) was founded by ABC Life Literacy Canada, the Canadian Foundation for Economic Education (CFEE), Credit Canada: Debt Solutions, Financial Planning Standards Council (FPSC), Junior Achievement, the Investor Education Fund (IEF), and Social and Enterprise Development Innovations (SEDI).
Financial Literacy Month is an important opportunity to highlight efforts undertaken by organizations across the country to help improve financial literacy in Canada. Collaboration among FLAG organizations, as well as other organizations across the country, is critical to raising Canadians’ awareness about the resources, programs and tools that exist to help them in their efforts to improve their household finances.
The establishment of Financial Literacy Month by FLAG was inspired by the Task Force on Financial Literacy’s recommendation that groups active in financial literacy programs in Canada work together to find solutions. It has inspired many other organizations across the country to share information on their financial literacy programs, many of which can be found at itpaystoknow.gc.ca/flm.
FLAG recognizes the support for financial literacy shown by Ted Menzies, federal Minister of State (Finance), as well as federal organizations such as the Financial Consumer Agency of Canada (FCAC).