Ontario Ministry of Education
New Financial Literacy in the Ontario Curriculum
On November 9, 2010, Education Minister Leona Dombrowsky announced that the government is moving forward to better integrate financial literacy into the Ontario curriculum starting in fall 2011.
The minister received the advice from the Curriculum Council and is reviewing the recommendations from the Working Group on Financial Literacy in A Sound Investment: Financial Literacy Education in Ontario Schools (PDF, 752 KB).
Beginning next school year, elementary and secondary students will learn more about how to make informed financial decisions. In the classroom, students will learn about saving, spending and investing money, and they will develop the critical skills needed in today's complex financial world.
Frequently Asked Questions
Who were members of the Financial Literacy Working Group?
The Working Group on Financial Literacy, was co-chaired by Leeanna Pendergast, Parliamentary Assistant to the Minister of Finance and Former Parliamentary Assistant to the Minister of Education and MPP for Kitchener-Conestoga, and Tom Hamza, President of the Investor Education Fund.
They were convened by the Curriculum Council to gather information and conduct consultations about ways to embed financial literacy in the curriculum.
What was the consultation process?
The Working Group consulted with stakeholders including parents, students, teachers, and school board teams. The process used to engage these stakeholders included:
- an online survey from students, parents, school boards, educators other stakeholder groups and interested members of the public,
- presentations and discussions with researchers and representatives with expertise in financial literacy from different sectors including educational organizations, student groups and financial sector groups,
- a review of initiatives from other jurisdictions.
Isn't financial literacy already taught in Ontario schools?
Yes. In the current elementary and secondary curriculum, topics related to financial literacy are addressed in various subjects and disciplines, such as social studies, language, mathematics, business studies, guidance and career education, and Canadian and world studies. However, the ministry is aiming to enhance students' financial literacy education by integrating more relevant content throughout the existing curriculum. (There is no plan for new courses or new curriculum expectations.)
When will students start learning about financial literacy?
Knowledge and skills associated with financial literacy have always been important and are included in several subject disciplines in the current elementary and secondary curriculum. Beginning in fall 2011, there will be more supports for teachers to connect financial literacy education topics across the curriculum which will deepen and enrich student learning.