TORONTO, Feb. 9 /CNW/ - ABC Life Literacy Canada applauds the work of
Canada's Financial Literacy Task Force who today released a new
financial literacy strategy to build a more financially literate
Canada. ABC Life Literacy Canada welcomes the recommendations and looks
forward to working with the Government of Canada, business and literacy
partners to implement solutions on this critical literacy and numeracy
"Every Canadian should have the literacy skills they need to live a
fully engaged life. The Task Force has strongly encouraged that
financial literacy be recognized as an important life skill to help
Canadians thrive in workplaces, homes and communities," said Margaret
Eaton, President of ABC Life Literacy Canada. "Our congratulations to
the entire Task Force and Chair Donald Stewart for leading this
extremely valuable initiative for all Canadians."
Reflected in the strategies of the Task Force is input from ABC Life
Literacy Canada. An active contributor during the Task Force's national
public consultations held in 2010, ABC Life Literacy Canada produced
recommendations which included:
Considering the specific needs of Canadians who have low levels of
literacy and numeracy skills and its' impact on their financial
The 2003 International Adult Literacy Skills Survey found that 42% of
the population has a reading comprehension level below a high school
graduate's recognized standard suitable for dealing with the demands of
everyday life and work in a complex, advanced society. In numeracy,
49% of the population scored below the recommended level.
Leveraging the workplace is an effective and far-reaching way to reach
Canadians who require improved literacy and numeracy skills.
Ensuring financial institutions use clear language, a concept already endorsed and developed by literacy practitioners.
Promoting a collaborative, integrated approach with all stakeholders and
the role non-governmental literacy agencies and programs can play in
improving financial literacy.
National initiatives such as ABC's new Money Matters program will help
build a more financially literate nation.
Last month, ABC Life Literacy Canada officially announced the
development of Money Matters, a new financial literacy program with
funding from the Government of Canada and TD Bank Group. The three-
year program will increase the level of financial literacy for adult
learners so they can make appropriate decisions and gain confidence
when dealing with their finances. This will also help them educate
their children and ultimately break any negative cycles that may exist
in a home when it comes to dealing with personal finance.
To learn more about ABC Life Literacy Canada's recommendations to the
National Task Force on Financial Literacy and the Money Matters Program
please visit www.moneymatterscanada.ca
About ABC Life Literacy Canada:
ABC Life Literacy Canada is a non-profit organization that inspires
Canadians to increase their literacy skills. We mobilize business,
government and communities to support lifelong learning and achieve our
goals through leadership in programs, communications and partnerships.
ABC Life Literacy Canada envisions a Canada where everyone has the
skills they need to live a fully engaged life. For the latest news and
information on adult literacy please visit www.abclifeliteracy.ca, follow us on Twitter or join our Facebook page.
SOURCE ABC Canada Literacy Foundation
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