The Canadian Foundation for Economic Education (CFEE) and National Bank have launched a new online, interactive financial literacy program to help improve people’s financial knowledge and by doing that, improve both financial and mental health.
CFEE said research shows a strong link between financial health and physical/mental health. Currently, prolonged periods of financial stress and anxiety are affecting many Canadians. But CFEE said making financial decisions that enable a person to stay in control of their finances can help reduce stress and anxiety. The new program, called FinLit 101, will cover topics like how to live within one's means, setting and achieving financial goals and establishing a strong sense of self-confidence when it comes to managing personal finances.
"CFEE, along with others, has been working to bring attention to the correlation between financial health and mental health for some years now," said Gary Rabbior, CFEE President. “We hope, and believe, that FinLit 101 will positively impact the lives of thousands of Canadians in the coming years."
FinLit 101 covers 10 modules and about 50 financial topics in English and French to support improvements to financial capability and manage one's financial affairs. It enables any user to select specific topics of interest or to work sequentially through the modules for a complete financial literacy learning program.
While the program has been designed primarily for those aged 15-18, it is nevertheless relevant to anyone interested in improving their personal financial literacy.