Raising the Bar Financial Literacy in Canada Presented by: Li Zhang, Program Manager, Corporate Citizenship CPA Canada
The CPA Canada Solution to Financial Literacy
Solution: • CPAs uniquely positioned
to help • Deliver objective financial
literacy education through our member volunteer network
Problem: Canadians need help managing money
• Summer Spending survey
• Summer Spending Follow-up survey
• 55+ research survey
• Canadian Finance Study
• Student research at McMaster
Research
The CPA Canada Solution to Financial Literacy
• Lunch ’n Learn • CPAs deliver the
programs • Free • Not selling anything • 6 topics
You bring the audience and the venue
Financial literacy sessions delivered by member volunteers as public service.
Seven Key Areas: • Adults • New Canadians • Workplace • School (Grades 4-12) • Post-Secondary Students • Small & Medium Business • Entrepreneurs
Community Connect Network
Adults
• Common format – 45 min PowerPoint, 15 min Q&A
• Interactive exercises, self-assessments
• Written and tested by CPAs
• Focus groups determined most popular topics
• Saving Strategies *
• Ten Healthy Habits of * Financial Management
• How to Teach your Kids * About Money
• Are You a Good Financial Role Model for Your Children?
Adults
* Denotes Workplace
• Effective Tax Strategies *
• Identity Fraud Protection *
• Planning for Your Retirement *
• Estate Planning
Adults
* Denotes Workplace
• Canadian banking system • Credit history / credit rating • Pay statements and
income tax returns
New Canadians
• Budgeting and cash flow • Defining a financial plan • Savings vehicles (RRSP,
TFSA & RESP)
New Canadians
Small & Medium Business
• Understanding Financial Statements
• Advanced Financial Statements
• Financial Ratios and Why They Matter to Your Business
• The Money Side of Business
• How to Grow Your Business
• What Lenders and Investors Want
• Why A Healthy Balance Sheet Matters
• Maximizing Your Business
Small & Medium Business
The Top 5 common mistakes startups make
• 0 - 3 years
Financial Survival for Entrepreneurs
• 3 - 5 years
Entrepreneurs
School - Grades 7 & 8
• Budgeting and Expenses
• Earning Income
• Goal Setting
• Savings and Bank Accounts
School - Grades 10 & 11
• Budgeting and Saving
• Credit cards Bad vs. Good Debt
• Earning Income
• Goal Setting
• How credit works
• How debt accumulates
• Opportunity cost
• Good debt vs bad
• Taking control of your finances before they control you
Post-Secondary Program
• In-person channels include: Workplace Schools Libraries Community agencies Tax clinics
• Online channels include: Electronic sessions and webinars
to reach broader audience, difficult geographies
Our delivery channels
Host Responsibilities
• Venue
• A/V – projector and screen
• Handouts for participants
• Evaluations – 360
• (Optional) treats or light refreshments for
participants
21
• Visit cpacanada.ca/financialliteracy General information on the
program Financial literacy education
we offer (request a session here) Latest resources, news and blog
• Request a session
• 8 weeks lead time
• CPA staff will contact you
How to get started?