Investor Education Fund Financial Education in Schools- Opportunities and Challenges November 3,

Investor Education Fund is a leader in classroom financial literacy An non-profit financial literacy organization funded by the Ontario Securities Commission A leading financial literacy innovator for over 10 years –A leader in classroom financial literacy Trainer of over 5,000 teachers on financial literacy and ‘Taking Stock” Chair of the Ontario Working Group on Financial Literacy to increase financial literacy in schools –A leading researcher into financial and investor education –An authority on Canadian financial education for adults Leading Canadian financial education website with 1.6+ million users annually First to market financial literacy as a public service concern Our Belief: Financial literacy must be interesting and easy to understand © Investor Education Fund, 2010

Financial reality for families has changed dramatically © Investor Education Fund, 2010 Debt Average household debt: $100,000 (nearly double from $56,800 in 1990) Canadians now owe 150% of our disposable income (up from 93% in 1990) One-third of Canadian retirees have mortgage or consumer debt (median $19,000) Kids Average tuition now: $5,366 In 1991: $1716 Average university debt load: $25,000 Parents One-third of Canadians aged 45+ provide unpaid care to aging parents Savings On average, Canadians save 4 cents for each dollar earned (down from 13 cents in 1990) Retirement Savings In 2009, only 24% of Canadians contributed to their RRSP Average contribution: $2,600

Challenges in Financial Education © Investor Education Fund, 2010 Financial Literacy Challenges:The Solutions: The greatest need for financial education is among people who are the least interested Develop a better understanding of how to reach and engage different demographic groups Financial issues are perceived as intimidating and complicated Change methods of delivery and presentation (language, tone, medium, etc.) to appeal to different targeted groups The topic is a lifelong learning issue that changes over time (a)Integrate basics financial topics into public school curriculum (b)Create content that addresses a lifetime of financial issues Most financial education is offered by the financial industry – with its natural bias to selling product Reach out to people through the media and advertising like industry does, and offer an unbiased alternative IPAC/Deloitte Public Sector Leadership Awards

Working Group on Financial Literacy in Ontario Mandate was to bring together best practices around the world and work with teachers, parents, students and other stakeholders to make recommendations about how to implement financial education in Ontario schools Wrote “A Sound Investment” that summarized our recommendations Led to the release of the ‘Scope and Sequence’ document which highlighted how the topic should be implemented in courses between Grades 4-12 Financial literacy in the curriculum began to be rolled out in 2011 © Investor Education Fund, 2010

Changing Education: The Route to Permanent Change We are Integrating financial education into the schools in a creative and entertaining way Funny Money- Partner to expand the FM program, which uses comedians to present financial information to students Animated videos- Address major money issues that students told us that they are concerned about, and in an engaging way New content and training for Grades Provide curriculum-based financial literacy material and training for teachers Expanding Partnerships- Expand reach of Toronto Star and Globe & Mail partnerships that create current events to teach financial topics Train new teachers- Partner with teachers’ colleges in Ontario to prepare student teachers to teach financial literacy Long-term change requires a long-term effort Be part of the change- go to Getsmarteraboutmoney.ca and sign up for the summer institute and to get our free curriculum based content © Investor Education Fund, 2010 IPAC/Deloitte Public Sector Leadership Awards

Next Steps: How to Inspire Financial Literacy Sign up for to receive our financial literacy content for most topics from Grades 4-12 Get professional instruction at your board or school on how to integrate financial literacy into the classroom Be a leader and sign up for our free summer institute in Toronto in August, 2012 To find out about all of this, go to: © Investor Education Fund, 2010