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

Five Core Elements

Research

Community Connect Network

Publications

Website

Partners & Sponsors

Publications

Canadian Best seller

EIFLE Winner

EIFLE Winner

• 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 4 & 5

• Bartering

• Needs and Wants

• Goal Setting

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?

What questions can I answer for you?

Contact us at

financialliteracy@cpacanada.ca