Financial Consumer Agency of Canada

Financial Consumer Agency of Canada

November 01, 2011 14:13 ET

Financial Literacy Month: FCAC Will Help Young Adults Become Money-Savvy Through Financial Basics Workshops

OTTAWA, ONTARIO--(Marketwire - Nov. 1, 2011) - The Financial Consumer Agency of Canada (FCAC) is proud to be part of Financial Literacy Month. FCAC will work with colleges, universities and community-based organizations to deliver Financial Basics workshops across the country.

"A clear understanding of the fundamentals of financial products is vital to help youth avoid costly mistakes," said Ursula Menke, Commissioner of FCAC. "These Financial Basics workshops help us reach many young adults when they need this information."

Financial Basics was developed by FCAC and the Ontario Investor Education Fund, in collaboration with author and journalist Ellen Roseman. In these engaging hands-on workshops, participants learn how to budget, manage expenses and debt, use credit wisely, protect themselves from fraud and save for their future.

"I decided to take the Financial Basics workshop because I was really scared about what my finances were looking like. The course was excellent, because it extended over things such as consumerism, investments, debt, all sorts of things. Financial tools that are accessible for everyone are so important, because there is such a wide range of issues that people can run into," said one participant in last year's Financial Basics program.

FCAC and the Association of Community Colleges of Canada (ACCC) will offer Financial Basics in five community colleges during the month of November.

"Colleges recognize that financial literacy is an essential skill for Canadians of all ages," says James Knight, President and CEO of ACCC. "Providing financial know-how at colleges and institutes will make our graduates more successful in their lives as both highly skilled employees and savvy consumers."

In addition to colleges, Financial Basics workshops will be delivered throughout November at:

  • Ryerson University, Toronto
  • the University of Moncton
  • JVS, Toronto
  • Causeway Work Center, Ottawa.

By working with partners in bringing financial education to Canadians across the country, FCAC believes it will have a greater impact on bringing consumers the knowledge, skills and confidence to make financial decisions in their own best interests.

For more information about the Financial Basics workshops, or to order your copy, visit the Educational Programs section of FCAC's website.

About FCAC

With educational materials and interactive tools, the Financial Consumer Agency of Canada (FCAC) provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with legislation and industry commitments intended to protect consumers.

You can reach us through FCAC Consumer Services Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: fcac.gc.ca.

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