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This Year's Financial Literacy Month Encouraged Networking and Creativity

FLM 2012 has come to a close, but for many, increasing Canadians' financial literacy carries on.

OTTAWA, ONTARIO -- (Marketwire) -- 12/12/12 -- The second Financial Literacy Month (FLM) has drawn to a close, and Canadians were able to participate in more than 260 events organized by close to 60 different organizations across the country. Community and volunteer groups, government agencies and private-sector organizations offered a wide range of activities throughout November to help Canadians learn more about managing their personal finances.

The Honourable Ted Menzies, Minister of State (Finance), was actively involved in FLM and met with a number of stakeholders, including the Financial Literacy Action Group and the Chambers of Commerce in Winnipeg, Kitchener-Waterloo and Regina, as well as with attendees at a roundtable discussion at the Economic Club of Canada in Toronto.

"There is a broad range of people and organizations doing excellent work to ensure that Canadians have the critical skills they need to manage their personal finances," said Minister Menzies. "They are all looking forward to the appointment of the Financial Literacy Leader, who will serve as a catalyst for financial literacy efforts across the country. Our government tabled legislation that will allow for the appointment of the Leader sometime in the new year," he added.

"Financial Literacy Month offered something for everyone," said Ursula Menke, Commissioner of the Financial Consumer Agency of Canada (FCAC). "From seminars on surviving the holiday shopping season to developing money resolutions, from the basics of investing to tackling debt, from preparing for home ownership to managing your finances to planning for retirement. The FLM Calendar of Events was a great way for people presenting activities, as well as those who were looking for an event to find the information they needed."

Over 300 people participated in 18 Financial Basics workshops run by 12 organizations that offered a hands-on learning experience on topics including managing expenses, credit and debt; protecting oneself from fraud; and saving for the future.

Social media played a big part in FLM, with people using the Twitter hashtag #FLM2012 (#MLF2012 in French) and the FLM Facebook page to engage others and promote their activities. They also shared their thoughts and ideas on financial education and encouraged their followers to join in the conversation. This strong participation of financial literacy advocates across the country resulted in more than 3,900 references to FLM on Twitter alone, potentially reaching more than 5.1 million users.

FCAC's FLM video contest for youth also generated great successes on YouTube. At last count, the 38 videos submitted and uploaded onto FCAC's YouTube channel were viewed more than 7,800 times and received close to 500 "likes". All winners will be announced on December 14. More details on the contest and prizes are on FLM's Web pages at itpaystoknow.gc.ca/flm.

The momentum of FLM will be maintained by FCAC and by the partnerships established in several provinces and communities that promote financial literacy. These include the Financial Forum in Manitoba, the Financial Education Network Resource Centre in New Brunswick, the new Financial Literacy Action Network Ottawa and Calgary's Financial Futures Collaborative.

About FCAC

With educational materials and interactive tools, the Financial Consumer Agency of Canada (FCAC) provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with legislation and industry commitments intended to protect consumers.

You can reach us through FCAC's Consumer Services Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: itpaystoknow.gc.ca.

Follow @FCACan on Twitter

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