Blog

Via OMSAA's June Blog

Now more than ever Canadians are recognizing the importance of financial well-being – achieving peace of mind about our financial situation, feeling secure in our ability to absorb a money setback, and having the freedom to make choices that allow us to enjoy life. However, research shows that 63% of Canadians living on low-income are very concerned about their ability to meet basic expenses and that 54% of Canadians with income under $50,000 say they are in poor or terrible financial shape. Financial stress severely impacts our physical, emotional, and mental health.

As a society, we often perceive education as a powerful tool that opens a world of opportunities, including a way to overcome financial hardships. Through education, individuals can secure employment and improve their standard of living. While education can serve as a steppingstone towards financial stability, it is important to recognize that without the right resources, it can be difficult to attain financial independence.
 

Canada is often celebrated as a multi-cultural land of great opportunities where people from all walks of life are free to express their identities and live comfortably. But the remnants of Canada’s historical practices are apparent among some communities even today. The wounds from colonization and its negative impacts are deeply rooted within Indigenous communities in Canada. Covid-19 has further complicated the situation by widening the economic disparities experienced by vulnerable communities including the Indigenous Peoples.