All Saskatchewan school divisions now have the opportunity to offer financial literacy courses to their students.
Financial Literacy 20 and 30 was piloted by 20 teachers in 12 school divisions and two First Nation education authorities, with the courses now being made more broadly available.
鈥淥ur Government wants to ensure Saskatchewan鈥檚 students are provided with relevant and practical curricula that will prepare them for their futures,鈥� Deputy Premier and Education Minister Gordon Wyant said in a release this week. 鈥淒eveloping additional opportunities for all Saskatchewan students to learn and improve upon their financial literacy empowers them to manage their money effectively, and will be of significant benefit to students throughout their lives.鈥�
Sacred Heart High School in Yorkton was one of the schools to pilot the level 20 course, said Principal Rachel Sterzuk, who explained it came down to having a teacher interested in the course.
The Financial Literacy 20 and 30 electives can be used to fulfill the Practical and Applied Arts/Arts Education requirement for high school graduation. Teachers in grades 7 to 9 are able to introduce financial literacy to their students by using content from this curriculum in middle level Practical and Applied Arts courses. Financial Literacy 20 and 30 addresses financial topics and decisions that students may already be facing while highlighting others they are likely to face within the first few years of leaving high school. It also touches upon more complex topics such as home ownership, debt management and planning for the future, which are part of a lifelong financial journey.
Sterzuk said it鈥檚 not that financial education was missed before the new course but in the past elements were found across a number of courses such as budgeting being covered in math, and other elements in other courses where understanding debt were covered.
The areas of focus for Financial Literacy 20, 30 are:
- learning 鈥� receiving money and/or resources as recognition for paid or unpaid work;
- saving 鈥� purposefully setting aside resources for future use and/or enjoyment
- spending 鈥� consciously using resources to enhance the well-being of self and others;
- borrowing 鈥� taking something on loan, with a promise of returning it, or its equivalent, often at a higher value, by a specific time;
- sharing 鈥� giving of one鈥檚 skills, abilities, time or resources to enhance the well-being of community and self;
- investing 鈥� engaging in reflective decision-making for future benefit; and,
- protecting 鈥� recognizing, appreciating and maintaining the value and worth of oneself, community resources and the environment.
Sterzuk said the new courses will be offered at Sacred Heart in the fall as electives.
鈥淪tudents can chose to take all kinds of different electives,鈥� she said, adding thenew courses are just a new option to consider.
"Saskatchewan鈥檚 school boards recognize the importance of financial literacy and our members passed a resolution in support of developing elective personal finance classes for high school students,鈥� President of the Saskatchewan School Boards Association Dr. Shawn Davidson聽said in the release. 鈥淚n our recent engagements with more than 10,000 people as part of the developing a shared vision for the future of education in Saskatchewan, we heard a clear desire from students, families and communities for increased opportunities to learn life skills such as budgeting and money management. We welcome the availability of these classes across the province.鈥�
The Saskatchewan Chamber of Commerce were quick to support the new course offering,
鈥淭he chamber network, together with the Saskatchewan Financial Literacy Network and its partners in the financial industry, have long advocated for greater access to financial education. It would not be an understatement to say that this opportunity means that聽people will have better control over their finances and will ultimately achieve more success in their lives,鈥漵aid Steve McLellan, CEO of the Saskatchewan Chamber of Commerce (SCC) in a Chamber release.
Juanita Polegi, Executive Director of the Yorkton Chamber of Commerce said the course is a good idea too.
鈥漈he Yorkton Chamber of Commerce commends all those involved in pushing for financial literacy to become a component of the high school curriculum,鈥� she told Yorkton This Week.聽 鈥淪tudents will be much better prepared to handle their own finances with an understanding of the ramifications of interest and investments.聽 This is a positive move for high school education.鈥�
The Saskatchewan Chamber of Commerce has been a long-time advocate for financial literacy education in the K-12 curriculum and helped launch the Saskatchewan Financial Literacy Network (SFLN) in 2018. Increased interest in financial literacy education is due to聽the guidance and support of the financial services sector and other interested businesses.
