Expanding financial literacy programs for students

Posted on May 05, 2022

More students will gain valuable financial literacy knowledge and skills to prepare them for success today and in the future.

Students in grades 3 to 12 will benefit from an investment of $5 million into financial literacy programming over the next three years. As part of the Alberta at Work initiative, Alberta’s government is increasing funding to three organizations to expand reach and enhance student financial knowledge and training, inspiring students to pursue their interests and contribute to their future and the economy.

“Students are our future entrepreneurs, innovators and creators. Understanding essential concepts such as income, expenses, interest, investing, saving and taxes will set them up for success and help them prosper in today’s changing world. This investment into financial literacy programming will give Alberta’s next generation the much-needed financial knowledge and skills for personal and professional success.”

Adriana LaGrange, Minister of Education

“Expanding the investment in financial literacy will mean future generations will benefit from basic financial education. With the right start, we can help young people develop an understanding of personal finances that will contribute to financial well-being throughout their lives.”

Travis Toews, President of Treasury Board and Minister of Finance

“I’m thrilled that the province understands the need for financial literacy in our young adults. This is so important for personal and career development. It’s essential that they have an understanding of financial literacy whether they are going to start a business, find a successful career they enjoy and can spend a lifetime with, and raise a family in Alberta.”

Angus Watt, senior wealth advisor, National Bank Financial

Through an extension to their 2021-22 grant agreements, Enriched Academy will receive $900,000 per year and the Canadian Foundation for Economic Education will receive $500,000 per year over the next three years. The two organizations provide students in grades 7 to 12 with financial literacy programming on topics such as money management, budgeting, credit and student loans. Both organizations will also provide professional learning opportunities for teachers and school leaders, including additional resources to facilitate financial literacy learning.

“Enriched Academy is proud to continue its partnership with the Alberta government to provide practical, real-life personal finance education for Alberta students. This three-year extension will allow even more Alberta teachers to use our programs to help their students learn the critical life skill of managing money. Financial literacy is an essential lifelong skill and we are confident the foundation provided by the Enriched programs will benefit Alberta students throughout their life.”

Kevin Cochran, president and co-founder, Enriched Academy

“CFEE is honoured to have been selected by the Government of Alberta as one of the organizations to receive support to assist the government’s efforts to improve the financial literacy of Alberta youth. We believe the wide range of resources and programs available through the “Building Futures in Alberta” program will help address the varying needs of teachers who are teaching different grades, subjects and situations.”

Gary Rabbior, president, Canadian Foundation for Economic Education

Junior Achievement will also receive $250,000 per year over the next three years to work with teachers to provide young learners in grades 3 to 6 with hands-on, experiential financial literacy programming, work readiness and entrepreneurship education. This programming will support financial literacy learnings in the new K-6 Physical Education and Wellness curriculum being implemented in classrooms this fall.

“Junior Achievement is pleased to continue our successful partnership with the provincial government to expand financial literacy programming for students across Alberta. As a non-profit that has been active in the province for over 60 years, we know how valuable our programming is for students, educators, and parents alike. We are thankful for the broad support including financial literacy in the new K-6 curriculum has received and we are committed to supporting students with this and other important life skills education available through our global network with a made-in-Alberta approach.”

Melissa From, president and CEO, Junior Achievement Southern Alberta

All three organizations have a successful track record of delivering high-quality and engaging financial literacy resources to Canadian students. This increased funding will give schools more choice in financial literacy programming and will ensure students have access to financial literacy education now and in the future.

Alberta at Work strengthens Alberta’s K-12 education system, supports access to training and career development opportunities, helps out-of-work Albertans re-enter the workforce and increases awareness of the benefits of living, working and investing in Alberta.

Quick facts

In July 2021, Alberta Education awarded Enriched Academy and the Canadian Foundation for Economic Education with $700,000 and $300,000 respectively, following a provincewide call for grant proposals totalling $1 million. Junior Achievement also received a grant renewal of $200,000.
Over the next three years, the three organizations expect to reach more than 360,000 students in grades 3 to 12 with financial literacy programming each year.

Alberta’s renewed K-6 curriculum includes an increased emphasis on foundational literacy and numeracy skills, as well as a stronger foundation in financial literacy in all grades to support work readiness and entrepreneurship. Financial literacy will continue to be reflected in the future Grade 7-12 curriculum.

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