Financial Literacy Month

Financial Literacy Month is recognized annually in Canada in November, and National Financial Literacy Month was recognized in the United States in April 2004, in an effort to highlight the importance of financial literacy and teach citizens how to establish and maintain healthy financial habits.

Financial Literacy
Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Understanding basic financial concepts allows people to know how to navigate in the financial system. People with appropriate financial literacy training make better financial decisions and manage money better than those without such training.

Events
November of every year is Canada's Financial Literacy Month. The month is organized by the Financial Literacy Action Group (FLAG), a coalition of 7 non-profit organizations who work with the federal government body Financial Consumer Agency of Canada (FCAC).

Throughout November FLAG organizes events across Canada to educate and engage with the public regarding the need for financial literacy and promote services available to the public:


 * [FLAG] raises awareness of the need for financial literacy and highlights the programs, services and tools available to help Canadians improve their financial knowledge, skills and confidence.

Purpose
The purpose of this month is to educate the public so Canadians are equipped to:


 * Provide for themselves and their family
 * Invest in their future and the future of their children
 * Understand their financial rights and obligations
 * Contribute to the community as a good citizen

Many of the country's financial institutions (such as Planswell, Wealthsimple, RBC) and nonprofit financial educational organizations promote the month by creating educational material and hosting promotional events that center around topics of personal finances.