Press Releases

The Canadian Foundation for Economic Education and National Bank launch a financial literacy program for students

Montreal, 26 October 2020 -

 Best-selling author and personal finance educator Kelley Keehn to lead two national workshops for college and university students

In anticipation of Financial Literacy Month, the Canadian Foundation for Economic Education (CFEE), with the support of National Bank, has launched a financial literacy program and has published the results of a survey conducted among post-secondary students across Canada. One of the findings reveals that 64% of them report that they are dealing with financial stress. The CFEE survey was completed by 1,436 students from 94 post-secondary institutions in the spring of this year.

The survey was the first phase of HELP: Managing My Money on Campus, a new initiative launched by CFEE in partnership with National Bank. This program aims to improve the financial literacy of post-secondary students across Canada.

The survey results provided valuable feedback that CFEE has used to design and develop certain components of the new program. The students identified the following as their top challenges:

  • Dealing with financial stress in general (64%)
  • Preparing and working with a budget (57%)
  • Paying tuition fees (53%)
  • Paying and managing monthly living expenses (50%)
  • Difficulty generally knowing how to manage their finances (48%)

When asked what topics students would like to know more about, the top six were:

  • Investing money for the future (76%)
  • Ways to save money (59%)
  • Creating and working with a budget (52%)
  • Building a financially healthy life (55%)
  • Preparing tax returns (55%)
  • How to manage major expenditures (55%)

The second phase of the program entails a series of online workshops/webinars mainly based on the survey results. Plans are to conduct over 100 presentations across Canada over the next three years. Most workshops/webinars will be organized in collaboration with specific colleges and universities. Two signature webinars for post-secondary school students will be hosted by the best-selling author and personal finance educator Kelley Keehn on October 27 and November 3, 2020 from 3:00-4:30 p.m. ET. Students may register for these workshops by visiting the CFEE’s event page.

A website will be launched shortly to give students access to resources related to managing personal finances and workshop materials. Thanks to support from National Bank, the entire CFEE program is free to all students.

Quotes

“These are incredibly challenging times for all Canadians—but particularly youth who have had their family and social life put under stress—and also their education and finances. CFEE is very pleased to have partnered with National Bank to be able to bring help, information, and resources directly to college and university students whether they are studying at home or on campus.”
Gary Rabbior, President of CFEE

"We’re extremely proud to support the financial education of post-secondary students by assisting CFEE in developing these resources. Our youth has a clear need for financial education, and we believe these tools will improve their financial health and have a positive impact on their lives.”
Lucie Blanchet, Executive Vice-President – Personal Banking and Client Experience at National Bank

About National Bank of Canada
With $322 billion in assets as at July 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

About CFEE
CFEE is a federally chartered, non-profit, non-partisan organization, founded in 1974, that works to improve economic and financial literacy and enterprising capability. CFEE works collaboratively with ministries and departments of education along with school boards, schools, educators, and teacher associations. CFEE also engages in activities to support and assist newcomers and past immigrants to Canada, and the general public including print resources, videos, workshops, and online resources. Overall, CFEE aspires to help Canadians of all ages be better prepared to undertake their economic roles, responsibilities, and decisions with confidence and competence.

For more information:  
Joseph F. Clark Jean-François Cadieux
Communications Director Senior Manager – Public Affairs and Corporate Social Responsibility

Canadian Foundation for Economic Education

 

National Bank of Canada
jclark@cfee.org jean-francois.cadieux@nbc.ca
Tel.: 905-726-3438
Cell: 416-893-8772
Tel.: 514-394-6500