Junior Achievement programs fill the need for financial literacy education
New research showcases why financial literacy education is essential
TORONTO, Nov. 1, 2012 /CNW/ - According to the latest research by Ipsos-Reid on financial literacy released by Junior Achievement today, 93% of Canadians believe it's important for volunteers to teach children the importance of budgeting their money. In conjunction with Financial Literacy Month, Junior Achievement of Canada announced the new research, which shows that financial literacy is seen as extremely important by Canadians. Financial Literacy Month is held in November and highlights the need for financial literacy and programs, services and tools that help Canadians improve their knowledge, skills and confidence in making the best financial choices.
The research, which was conducted in October 2012, also showed that:
Canadians believe that having mentors who volunteer to teach youth about managing finances, in general, is quite valuable. 92% of Canadians think it is important for volunteers to teach children how to manage their finances (62% 'very important' and 30% 'somewhat important').
Canadians believe that important tools for teaching financial literacy aren't just for children. Half (49%) of Canadians believe it's 'very important' for volunteers to provide parents with tools to teach their children about financial literacy, while four in ten (40%) think it's 'somewhat important'.
One-third (35%) of Canadians think that it's 'very important' for volunteers to teach children the role of business, while nearly half (47%) say it's 'somewhat important'.
Residents of Ontario, Saskatchewan and Manitoba are the most likely to find the need to teach children about budgeting their money 'very important' followed closely by Atlantic Canadians, Albertans, British Columbians and Quebecers.
"The research clearly shows Canadians' support for financial literacy education for young Canadians," said Stephen Ashworth, President and CEO (acting), Junior Achievement of Canada. "By delivering engaging educational programs to young Canadians, Junior Achievement is helping to fill the need for financial literacy education in schools."