Financial Education Has Evolved
CFEE has observed the changes in and evolution of financial education over many years now. There has been a continuous escalation in the recognition of the importance of financial capability in helping Canadians take more control over their affairs, helping them to make better financial decisions, and helping them to feel more confident and competent. In recent times, it has become clear to many that the benefits of financial literacy and capability extend beyond the dollars and cents calculations and how to decide on the right credit card. There has been a growing awareness of the link between financial health and general well-being and overall general and mental health.
The Links Are Obvious
When you think about it, the link is obvious. We all know people, perhaps ourselves, who are experiencing financial stress and anxiety. Perhaps we feel overwhelmed by debt, wonder how we are going to cope with financial challenges – and so on. Such stress can build and manifest itself in ways that impact on our health, on our work, on our family relationships, and how we feel about ourselves. At the same time, managing our money well, staying in control and adhering to our values can help us achieve happiness and confidence and enable us to achieve our goals.
CFEE Lends Its Voice to Increasing Awareness
The association between these factors is getting more and more attention. Those in the health care field are seeing evidence of financial matters impacting health and wellness all the time. Therefore, this year in Financial Literacy Month, CFEE is lending its voice to efforts to help Canadians better understand this important correlation and to show that, when we help improve financial capability and financial health, we are also contributing to overall general and mental health and well-being.
Poster: Financial Health and Well-Being – A Contribution to the Efforts in Financial Literacy Month
As a small way of contributing to such efforts, CFEE has produced a poster focusing on Financial Health and Well-Being and the skills that we can aim to develop to achieve such health. We hope that teachers, parents, employers, etc. will put the poster up to promote consideration of these skills – and to help increase awareness of the correlation between financial health and well-being and the general well-being of Canadians. We believe awareness will help to increase advocacy for change – and increase and improve financial education efforts, especially for our youth.
President, Canadian Foundation for Economic Education