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FLC - Student (self-directed)

Did you know that Canada has a Financial Literacy Leader?  Jane Rooney's role is to provide guidance and expertise to implement Canada's National Strategy for Financial Literacy - Count me in, Canada (#CountMeInCA).  Why is financial literacy so important?  Just like your physical and mental health, in today's complex world, having the knowledge and skills to make responsible economic and financial decisions with confidence can improve your financial stability and health at each stage of your life.

 

When it comes to financial literacy, Canadian students are among the best in the world according to a survey administered by the Organisation for Economic Cooperation and Development (OECD) in 2015.  But there is still much work to be done and by choosing to engage with the activities and resources in this module, you've taken a big step forward in expanding your knowledge and skills and building a stable and healthy financial future.

 

The resources provided include:

  • 2 workbook activities to practice your budgeting skills while exploring topics like saving for post-secondary education and preparing for the uncertainties of every day life.  These workbook activities can be completed at any time by printing the pdf document provided with each activity and following the step-by-step instructions.
  • 7 themed quizzes - covering the topics of income management and budgeting, banking, investing, economics, accounting, credit and home ownership.  These quizzes can be completed in any order.  You can attempt a quiz more than once.  Most questions contain feedback, offering additional learning support as you go.  You can check your answer and access the feedback by clicking the "How Did I Do" link after answering each question and by hovering over the responses.  After you have submitted the quiz, you can "View Details" to see a summary of your results..
  • 1 comprehensive quiz that should be completed after mastering each of themed quizzes above.

 

If you've completed the activities and are ready for more challenge, consider enrolling in a business course at your high school or speaking to a teacher about enrolling a club or class in the Financial Literacy Competition.  The Competition takes place twice per year in December and May.  Registration for the December 2018 competition will open in October.  Not only will registration allow you to compete, but you will also gain access to additional resources to help you prepare for the competition.  We hope you'll take the challenge!

 

Please note: The information and resources made available on this site are the property of the University of Waterloo and the School of Accounting and Finance.  The information and resources are provided for educational use only and are not to be copied, reproduced, or used for any other purpose without the express written consent of the University of Waterloo.

Workbooks

Your post-secondary education will be one of the biggest investments you'll make. Do you know how much it will cost? Personal budgeting is the one area of financial literacy that can never be emphasized enough, yet it is rarely practiced. This budget activity will have you explore your future education plans to help you understand what post-secondary education might cost, how you might finance this significant investment, and what you can start doing today to make your future plans a reality. Print the pdf workbook (double sided is recommended) and read the instructions on Page 1. When ready, turn to Page 2 to get started.

Five years after high school, what will you be doing? Will you be OK for money? Will you be happy? Personal budgeting is the one area of financial literacy that can never be emphasized enough, yet it is rarely practiced. Budgets are important at each stage of your life. This budget activity will help you explore your income and expenses in the early stages of your career, just 5 years after graduating from high school. You will experience how different life decisions affect your financial health and your happiness and you'll learn the importance of planning for life's unexpected events. Print the pdf workbook (double sided is recommended) and read the instructions on Page 1. When ready, turn to Page 2 to get started.

Accounting

It is difficult to understand business operations without being able to read, understand and analyse financial statements. Test your knowledge of accounting basics with this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario) and many schools offer additional courses in accounting in Grade 11 and 12.

Banking

Do you have your own bank account and debit card? If yes, fantastic! You've already entered the world of banking. Test your basic knowledge of banking concepts by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Credit

At some point, you're likely to use credit to make a purchase. Perhaps for a credit card to make a purchase online, perhaps for a loan to purchase your first car, or maybe for a mortgage to buy your first home. Knowing when to use credit and how much credit you can afford is critical to your financial health. Test your knowledge of credit basics by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Economics

Supply and demand. Do you understand these terms and more importantly, understand their relationship to each other? Test your knowledge of Canada's economy by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario) and some schools offer additional courses in economics in Grade 11 or 12.

Home Ownership

Buying your first home is likely one of the most significant purchases you will make and the largest debt that you will manage in your lifetime. To welcome our sponsor, Genworth Canada, we're introducing a new quiz to build and test your knowledge of home ownership. Genworth Canada is the largest private residential mortgage insurer in Canada and is committed to the promotion of responsible home ownership by enhancing the knowledge of future home owners like you.

Income Management and Budgeting

Budgeting is an essential skill. Being aware of your income and expenses not only helps you manage day to day but also helps you plan and save for the future. Test your knowledge of income management and budgeting by taking this short quiz. Don't forget to practice your budgeting skills by completing our two activity workbooks; Your Money, Your Future and Who Will You Become?.

Investing

Saving and investing are two different things. Without savings, you won't have money to invest. Do you understand some of the basics of saving and investing? Test your knowledge with this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Comprehensive

Test your knowledge of all 6 topics in one comprehensive quiz. It is recommended that you complete this quiz after successfully completing each of the themed quizzes.