Authors: ABC Life Literacy Canada
The Task Force on Financial Literacy was established in 2009 by the Government of Canada to consult with individuals and organizations across the country on how best to address the gaps in Canadians’ financial knowledge.
In this presentation to the task force, the authors begin by noting that a lack of financial literacy strikes hard at those already made vulnerable by poverty and unemployment.
At the same time, they say, many Canadians who are employed still lack the literacy skills that would help them improve their financial literacy. Therefore, they recommend that the workplace be recognized as a good venue to help Canadians improve their literacy and Essential Skills.
The authors also note that financial documents, including credit card agreements, are increasingly complicated and difficult to understand. They urge the task force to ensure that financial institutions use clear language in their documents.
The authors urge the task force to recognize the role that local, nongovernmental literacy agencies can play in improving Canadians’ financial literacy.