Web Conferences to develop awareness of the Ministry of Education’s Financial Literacy Initiative A Sound Investment: Financial literacy education in Ontario Schools

Practical Strategies for Elementary School Principals Presented By Mary Linton-Brady, Curtis Tye, Mary Cordeiro

Reflection Please feel free to comment, using the CHAT FEATURE on the following questions while you are waiting for the conference to begin What do you know about financial literacy? What role should schools play in developing financial literacy?

Please standby - the session will begin shortly While you are waiting for the conference to begin, please use the CHAT FUNCTION to: Introduce yourself and your team Identify your role and the roles of team members Describe why you registered for this web conference

Planning Team Mary Linton Brady, OPC Brigitte Clément, ADFO Mary Cordeiro, CPCO Lily Harfouche, ADFO Curtis Tye, OPC

Our Reality? Why not mom? You can use your credit card!

Background A Federal Task Force on Financial Literacy was appointed in June 2009, with a mandate to make recommendations to the Minister of Finance on a national strategy to improve financial literacy in Canada The report is entitled, Canadians and Their Money (December 2010)

Information and Statistics Source: Canadians and Their Money, page 14 AREA OF FINANCIAL LITERACY Making ends meet Keeping track Choosing products Planning ahead Staying informed Who’s struggling? Aboriginal Canadians Young adults Very recent immigrants Low-income and low-net- worth households Seniors Adults who let others make most major and ongoing financial decisions for them Aboriginal Canadians Recent and very recent immigrants Young adults Seniors Aboriginal Canadians Very recent immigrants Young adults Low-income and low-net- worth households Singles Seniors Aboriginal Canadians Recent and very recent immigrants Low-income households Renters Who’s doing better? Seniors High-income households Very recent immigrants High-income and high-net- worth households Homeowners People who have taken a course in financial matters High-net-worth households

Financial Literacy in Ontario “Having the knowledge and skills needed to make responsible economic and financial decisions with competence and confidence.” A Sound Investment: Financial Literacy in Ontario Schools (p. 7)

Vision “Ontario students will have the skills and knowledge to take responsibility for managing personal financial well-being with confidence, competence, and a compassionate awareness of the world around them” A Sound Investment: Financial Literacy Education in Ontario Schools (page 4)

Recommendations Six key areas of recommendation are identified: 1.Core knowledge, skills, and competencies for students 2.Support for teachers and other educators A Sound Investment: Financial Literacy Education in Ontario Schools

Recommendations 3.Engagement of government, school boards, schools, students, parents, families and the broader community 4.Leadership and Accountability 5.The importance of equity 6.Optimizing technology

Connections to Ministry Initiatives Literacy and Numeracy Strategy (K-6) Student Success Strategy (7-12) School Effectiveness Framework (SEF); Board Improvement Plan (BIP) Ontario (Catholic) Leadership Framework (OLF/OCLF); Core Leadership Capacities Ontario Equity and Inclusive Education

Connections to Ministry Initiatives Growing Success: Assessment, Evaluation, and Reporting in Ontario Schools Student Engagement/ Student Voice Parent/Community Engagement Character Education Education for All (Special Needs) ELL Education Aboriginal Education, etc……

Questions How do we highlight Financial Literacy education in curriculum areas? Which supports/resources are available to assist principals with this work?

Financial Literacy – A part of the Ontario Curriculum Elementary and Secondary Scope and Sequence documents ( Principals are co-learners and support teachers as they… Use Scope and Sequence to open the discussion about expectations related to financial literacy in specific grades Identify opportunities to promote and integrate the development of financial literacy skills and knowledge in each grade View Edugains materials with staff as appropriate

Sample Expectation Related to Financial Literacy Grade 4 Language use overt and implied messages to draw inferences and construct meaning in media texts (e.g., overt message on packaging for a video game: In this adventure game, characters take big risks and perform amazing deeds; implied message: If you buy this game, you can share in the excitement and be more like the daring characters)

Sample Expectation Related to Financial Literacy Grade 6 Health and Physical Education (Interim Edition 2010) C2. Making Healthy Choices C2.1 apply their knowledge of medical, emotional, practical, and societal factors that influence eating habits and food choices (e.g., … media influences, … cost) to develop personal guidelines for healthier eating [CT] Teacher prompt: “How do you handle emotional and social factors that could lead to poor eating habits or choices?”

Sample Expectation Related to Financial Literacy Grade 8 Arts B3.2 identify and describe a wide variety of ways in which drama and theatre make or have made contributions to social, cultural, and economic life in a variety of times and places (e.g., … by providing jobs; by attracting tourists; by communicating and teaching about a range of topics; … by raising awareness of … social/global issues) Teacher prompt: “How do theatre performances help the economy?”

Connecting Financial Literacy Into school activities… …. Into real-life experiences… ….

Supports and Resources On the Ministry website you will find… Elementary and Secondary Scope and Sequence documents Frequently Asked Questions A Sound Investment: Financial Literacy Education in Ontario Schools Link to EDUGains website Initial sample of Elementary and Secondary videos

Key Points for Staff Financial Literacy is a school-wide initiative Introduce concept at staff meetings and professional development sessions Brainstorm ideas for implementation through existing school structures (e.g., TLCP/Inquiry Model/PLC and Grade Team meetings) Integrate into questions for visitors to school Encourage staff to incorporate into class projects and assignments

Messages for Parents and School Council Ministry documents and applicable links placed on school web site Financial Literacy information in school newsletters with camera-ready examples of student work Encourage parent dialogues whenever possible Invitation to parent community to discuss Financial Literacy (i.e., Financial Literacy, Curriculum and Orientation Nights)

Community Partnerships Develop a school committee on Financial Literacy Student Council Finance Committee Nutrition Program – Healthy Eating develop utilize financial/budget information Connection with local businesses Career Day to include individuals from the financial sector

Outside Partnerships Community partnerships – how do principals get others involved? Local financial business partnerships (e.g., local banks, financial organizations) School Board budget department (i.e., central office) Local businesses and those that do business with school Family connections to business (i.e., own family business) Connect to school financial activities (e.g., fundraising events) Class visits to local grocery stores Prepare specific questions for guest speakers (e.g., authors)

Next Steps Survey Resource List What is one action you intend to pursue as a result of this session?