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November 2016 | Issue No. 19
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Pictured above: One-on-one session for Money $avvy, a program run by the John Howard Society of Ottawa.
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Financial literacy five years in: How we can build a more lasting legacy
November is Financial Literacy Month in Canada and the perfect time to reflect on how we are doing when it comes to building the financial knowledge, skills and confidence of Canadians.
In the five short years since the federal Task Force on Financial Literacy issued its landmark report, financial literacy efforts in Canada have come a long way. Our national and local media contain daily financial literacy stories, grassroots programs and networks have sprung up across the country, and the OECD just released rankings showing Canada to be the third most financially literate nation among its 29 members even though we still have significant room for improvement.
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What's New
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Announcing Canada’s first Financial Empowerment Champions
Prosper Canada announced the selection of Canada’s first Financial Empowerment Champion (FEC) organizations earlier this month. Over the next four and a half years FECs and their partners will work with Prosper Canada to measurably improve the financial well-being of 175,000 Canadians living on low incomes in their communities. Read |
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FEPS Program yields many accomplishments in program expansion
The expansion of the Financial Empowerment and Problem Solving (FEPS) Program is achieving positive results. Read the FEPS Year 1 Report which summarizes the first nine months of the program, and includes stories on how the program is helping people with low incomes achieve financial well-being. Our FEPS partners are West Neighbourhood House, Jane-Finch Community and Family Centre, Agincourt Community Services Association, The Working Centre, and EBO Financial Education Centre. Read |
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Insights to impact: Harnessing behavioural science to build financial well-being
This new report offers a practical and useful introduction to behavioural thinking and the ways it can be used to strengthen financial empowerment supports for Canadians with low incomes. The report was co-developed and funded by Deloitte LLP and Prosper Canada, and supported by leading Canadian and international behavioural science experts.
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Launching soon! Financial Literacy Outcome Evaluation Tool
Prosper Canada’s Research and Evaluation team Salima Shariff and Lilian Knorr attended the National Research Symposium on Financial Literacy earlier this month to introduce the new Financial Literacy Outcome Evaluation tool to support evaluation of financial literacy programs. Sign up at www.outcomeeval.org to receive a notification when the tool goes live soon. Read |
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| Learn about Financial Empowerment |
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Blogs
Content, Conversation, and Confidence: The 3 C's of teaching financial literacy
How do you teach financial literacy? At ABC Life Literacy Canada, we talk about this question a lot. Read
Revolutionizing financial education for youth raised in and from care
In a previous blog post I reflected on some of the financial difficulties faced by young people from care. Read |
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Highlights from the Field
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Financial Pathways Collaborative
An unprecedented eight financial institutions and three community based partners have launched a new collaborative in Edmonton and the surrounding area that is focused on helping community members living in low income build money management skills and effective budgeting practices, as well as help them gain access to available government benefits and subsidies. Read |
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Video: What is Financial Empowerment?
In this video, Canadian financial empowerment leaders share what financial empowerment means to them and the important work their organizations are doing to improve the financial well-being of Canadians living on low incomes. Watch |
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Submission to Finance Canada’s Financial Sector Review
In response to a recent Finance Canada consultation on Canada’s Financial Sector Framework, Prosper Canada worked with interested ABLE partners to develop and submit recommendations to further strengthen financial inclusion and protection for Canadians with low incomes. Our joint submission was prepared with: 4 Pillars Consulting Group, Acorn Canada, ABC Life Literacy, EBO Financial Education Centre, the Edmonton Financial Empowerment Collaborative, Momentum, SEED Winnipeg, and West Neighbourhood House.
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Poll
What per cent of Canadians are preparing themselves financially for retirement?  |
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Upcoming Events
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November 29, 2016 |
IMPACT: Mobilize Your Economic Power
Join Elizabeth Mulholland, CEO, Prosper Canada, for a discussion on how social enterprise is being used to address poverty, social isolation, addiction, employment and a host of other social and environmental challenges. This session is Part 4 of a 7 Part Webinar Series with Al Etmanski and Vickie Cammack. Read |
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November 30, 2016 |
Tax filing supports: Alternatives to tax clinics
On November 30, 2016 from 1:00PM – 2:30PM (EST), we’ll hear from three community organizations in Canada about the strategies they use to support tax filing in alternative approaches to the tax clinics – both at tax time and year round. Read |
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January 16, 2017 |
Register now for our online Financial Literacy Facilitator Training course
Our 7-week online curriculum is designed to prepare frontline workers to deliver an easy-to-use program to meet the needs of Newcomers to Canada and other vulnerable groups. Read |
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February 7-9, 2017 |
AFOA Canada 17th National Conference
The AFOA Canada 17th National Conference “Aboriginal Economy – Building a Stronger Future” will be held in Calgary, Alberta from February 7-9, 2017 at the Calgary TELUS Convention Centre. Read |
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Donate to Prosper Canada
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Contact Us
60 St. Clair Avenue East,
Suite 700,
Toronto, Ontario M4T 1N5
Tel: 416 665 2828
Toll free: 1 877 568 1571
info@prospercanada.org |
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