Money skills need to be taught in school

A Canadian task force established by the federal government in 2009 has delivered 30 recommendations to ensure Canadians understand financial concepts and make better decisions. One of the recommendations is that core elementary and high school education across Canada should include financial literacy.

Learning about money, the importance of saving, and managing money is essential. These skills will help Canadian understand everything from saving and paying bills, mortgages, investments and retirement planning.

Banks are thrilled by the recommendations.

The task force developed a blueprint after researching successful financial literacy programs across Canada and globally.

The task force calls for the Canadian government to work with both the public and private sector. It stated a priority should be on life-long learning, reach out to First Nations, immigrants and seniors. It also stated regular progress reports are needed.

Will this country standardize financial training better than the mess it has left regarding French education.

We wait to see if the government implements a standardized approach to this latest recommendation.

Let us know what you think.