Most Canadians value financial literacy, but the skill is not being trained sufficiently.
According to a recent survey from the Royal Bank of Canada, 97% agree that every student should have the opportunity to learn about money in school, and 95% consider financial literacy as important as core subjects such as math and reading.
Yet more than half of Canadians claim to have spent years catching up financially because they weren’t taught about money when they were younger, the the RBC Financial Literacy Poll found, and fewer than 20% believe young adults today have the skills needed to manage their money.
In response, RBC and Seaspan are expanding the “Dollars + Sense” financial education program.
Dollars + Sense is a financial education program that provides curriculum-aligned financial literacy courses to students in Grades 4 through 8 across Canada.
Available at no cost to schools, the program helps students learn how to save, spend, and manage money with confidence.
Dollars + Sense, delivered by Everfi, will reach least 750 schools annually nationwide over three years, according to Erica Nielsen, Group Head for RBC Personal Banking.
“By expanding the Dollars + Sense program into more schools, we are helping the next generation with the knowledge and skills to manage money with confidence,” stated Nielsen.
“Our commitment to Canadians begins long before they come to us for financial advice and continues as their needs change throughout their lives,” she said.
Other financial literacy initiatives from RBC include Mydoh, an app targeting teens building a financial foundation, which has reached 300,000 youth since 2021.
“At RBC, supporting Canadians means more than helping them manage their money today,” Nielsen commented. “It’s about giving them the knowledge to make informed decisions throughout their lives.”
“Whether it’s a child learning to save for the first time or an adult planning for a major milestone, we want Canadians to feel empowered and supported at every step,” she said.
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