Web Conferences to develop awareness of the
Ministry of Education’s Financial Literacy Initiative
A Sound Investment:
Financial literacy education
in Ontario Schools
Practical Strategies for
Secondary School Principals
Presented By
Mary Linton-Brady, Curtis Tye, Mary Cordeiro
Reflection
Please feel free to comment, using the CHAT FEATURE on the following
questions while you are waiting for the conference to begin
 What do you know about financial literacy?
 What role should schools play in developing
financial literacy?
Please standby the session will begin shortly
While you are waiting for the conference to begin,
please use the CHAT FUNCTION to:
 Introduce yourself and your team
 Identify your role and the roles of team
members
 Describe why you registered for this web
conference
Planning Team
 Mary Linton Brady, OPC
 Brigitte Clément, ADFO
 Mary Cordeiro, CPCO
 Lily Harfouche, ADFO
 Curtis Tye, OPC
Our Reality?
Don’t worry! It all fit on your credit card!
Background
 A Federal Task Force on Financial Literacy was
appointed in June 2009, with a mandate to make
recommendations to the Minister of Finance on a
national strategy to improve financial literacy in
Canada
 The report is entitled, Canadians and Their Money
(December 2010)
http://publications.gc.ca/collections/collection_2011/fin/F2-198-2011-eng.pdf
Information and Statistics
AREA OF FINANCIAL LITERACY
Making
ends meet
Who’s
struggling?
Who’s
doing
better?
•Aboriginal
Canadians
•Young adults
•Very recent
immigrants
•Low-income
and low-networth
households
•Seniors
•High-income
households
Keeping
track
•Seniors
•Adults who let
others make
most major and
ongoing
financial
decisions for
them
•Very recent
immigrants
Choosing
products
•Aboriginal
Canadians
•Recent and
very recent
immigrants
•Young adults
•High-income
and high-networth
households
Planning
ahead
Staying
informed
•Seniors
•Aboriginal
Canadians
•Very recent
immigrants
•Young adults
•Low-income
and low-networth
households
•Singles
•Seniors
•Aboriginal
Canadians
•Recent and
very recent
immigrants
•Low-income
households
•Renters
•Homeowners
•People who
have taken a
course in
financial
matters
•High-net-worth
households
Source: Canadians and Their Money, page 14
Financial Literacy in Ontario
“Having the knowledge and skills needed to make
responsible economic and financial decisions with
competence and confidence.”
A Sound Investment: Financial Literacy in Ontario Schools (p. 7)
http://www.edu.gov.on.ca/eng/Financial_Literacy_Eng.pdf
Vision
“Ontario students will have the skills and knowledge to
take responsibility for managing personal financial
well-being with confidence, competence, and a
compassionate awareness of the world around them”
A Sound Investment: Financial Literacy Education in Ontario Schools (page 4)
Recommendations
Six key areas of recommendation are identified:
1.Core knowledge, skills and competencies for students
2.Support for teachers and other educators
A Sound Investment: Financial Literacy Education in Ontario Schools
http://www.edu.gov.on.ca/eng/Financial_Literacy_Eng.pdf
Recommendations
3. Engagement of government, school boards,
schools, students, parents, families and the broader
community
4. Leadership and Accountability
5. The importance of equity
6. Optimizing technology
http://www.edu.gov.on.ca/eng/Financial_Literacy_Eng.pdf
Connections to Ministry Initiatives
 Literacy and Numeracy Strategy (K-6)
 Student Success Strategy (7-12)
 School Effectiveness Framework (SEF); Board
Improvement Plan (BIP)
 Ontario (Catholic) Leadership Framework (OLF/OCLF);
Core Leadership Capacities
 Ontario Equity and Inclusive Education
Connections to Ministry Initiatives
 Growing Success: Assessment, Evaluation, and
Reporting in Ontario Schools
 Student Engagement/ Student Voice
 Parent/Community Engagement
 Character Education
 Education for All (Special Needs)
 ELL Education
 Aboriginal Education, etc……
Questions
 How do we highlight Financial Literacy
education in curriculum areas?
 Which supports/resources are available to assist
principals with this work?
Financial Literacy – A part of the
Ontario Curriculum
 Elementary and Secondary Scope and Sequence documents
(www.edu.gov.on.ca)
Principals are co-learners and support teachers as they…
 Use Scope and Sequence to open the discussion about
expectations related to financial literacy in specific grades
 Identify opportunities to promote and integrate the
development of financial literacy skills and knowledge in
each grade
 View Edugains materials with staff as appropriate
Sample Expectation Related to
Financial Literacy
Grade 9 (SNC 1P)
Science
 Assess the major social, economic and
environmental costs and benefits of using
electrical energy, distinguishing between
renewable and non-renewable sources, and
propose a plan of action to reduce energy
costs
Sample Expectation Related to
Financial Literacy
Grade 11 (HIR 3C)
Managing Personal and Family Resources
 Analyse the ways in which economic
factors (e.g., interest rates, consumer
price index, inflation, unemployment
rates, fluctuations in the value of the
dollar) affect the family
Sample Expectation Related to
Financial Literacy
Grade 12 (AMU4M)
Music
 Assess their interests, skills and knowledge
in relation to a variety of careers in the
arts and culture industry
 Teacher prompts: “What kinds of careers
in music would allow you to combine your
interest in the arts with social or political
activism?” “What type of experiential
learning might you pursue to help
determine whether a career in the arts and
culture sector suits you?”
Connecting Financial Literacy
Into school activities…
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….
Into real-life experiences…
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Supports and Resources
 On the Ministry website you will find…
http://www.edu.gov.on.ca/eng/surveyLiteracy.html
 Elementary and Secondary Scope and Sequence documents
 Frequently Asked Questions
 A Sound Investment: Financial Literacy Education in
Ontario Schools
 Link to EDUGains website
http://www.edugains.ca/newsite/index.html
 Initial sample of Elementary and Secondary videos
Key Points for Staff
 Financial Literacy is a school-wide initiative
 Introduce concept at staff meetings and professional
development sessions
 Brainstorm ideas for implementation through
existing school structures (e.g., TLCP/Inquiry Model/PLC and
Grade Team meetings)
 Integrate into questions for visitors to school
 Encourage staff to incorporate into class projects
and assignments
Messages for Parents and
School Council
 Ministry documents and applicable links placed on
school web site
 Financial Literacy information in school newsletters
with camera-ready examples of student work
 Encourage parent dialogues whenever possible
 Invitation to parent community to discuss Financial
Literacy (i.e., Financial Literacy, Curriculum and Orientation Nights)
Community Partnerships
 Develop a school committee on Financial Literacy
 Student Council Finance Committee
 Nutrition Program – Healthy Eating develop utilize
financial/budget information
 Connection with local businesses
 Career Day to include individuals from the financial
sector
Outside Partnerships
Community partnerships – how do principals get
others involved?
 Local financial business partnerships (e.g., local banks, financial
organizations)
 School Board budget department (i.e., central office)
 Local businesses and those that do business with school
 Family connections to business (i.e., own family business)
 Connect to school financial activities (e.g., fundraising events)
 Class visits to local grocery stores
 Prepare specific questions for guest speakers (e.g., authors)
Next Steps
 Survey
 Resource List
 What is one action you intend to pursue as a
result of this session?