Unsigned: Teaching financial literacy is a step in the right direction
After a successful petition, the Ontario government is now introducing a pilot project to teach financial literacy to grade 10 students.
This is undeniably something that will be applicable to students’ lives beyond high school.
Currently, the onus is on parents to teach their children about these topics. That can raise a number of issues.
It’s all well and good if parents are financially responsible and willing to share that knowledge, but many aren’t.
This could introduce a cycle of ignorant people who have no idea how to manage their money. That’s a terrifying thought, as everyone will have to make an investment at some point.
Whether that’s taking out money to pay for university, buying a car or taking out a mortgage, adults have to know what happens with their money beyond stuffing it in a mattress.
Currently, it can be extremely difficult to stand up to bankers and other companies who want to handle your money.
These people obviously know more than us and it’s easy to fall prey to the mentality that they have our best interests in mind, when they could be just trying to make a sale.
If we have the basic knowledge of our own money and how it works, we’re less likely to get swindled and scammed.
Financial literacy is a continuing conversation and it’s a confusing topic.
Having a kick-start conversation in grade 10 will make those choices easier to understand in the future.
This program, as regulated by the government, will hopefully provide an unbiased start into understanding the financial world.
There is nothing bad about having kids who understand the value of money.