Web Conferences to develop awareness of the Ministry of Education

1
Web Conferences to develop awareness of the
Ministry of Educations Financial Literacy
Initiative
A Sound Investment Financial literacy
education in Ontario Schools
2
Practical Strategies for Secondary School
Principals
Presented By Mary Linton-Brady, Curtis Tye, Mary
Cordeiro
3
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?

4
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

5
Planning Team

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

6
Our Reality?
Dont worry! It all fit on your credit card!
7
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)
• http//publications.gc.ca/collections/collection_2
  011/fin/F2-198-2011-eng.pdf

8
Information and Statistics
AREA OF FINANCIAL LITERACY AREA OF FINANCIAL LITERACY AREA OF FINANCIAL LITERACY AREA OF FINANCIAL LITERACY AREA OF FINANCIAL LITERACY
Making ends meet Keeping track Choosing products Planning ahead Staying informed
Whos 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
Whos 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

• Source Canadians and Their Money, page 14

9
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)
• http//www.edu.gov.on.ca/eng/Financial_Literacy_En
  g.pdf

10
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)

11
Recommendations

• Six key areas of recommendation are identified
• Core knowledge, skills and competencies for
  students
• Support for teachers and other educators
• A Sound Investment Financial Literacy Education
  in Ontario Schools
• http//www.edu.gov.on.ca/eng/Financial_Literacy_En
  g.pdf

12
Recommendations

• Engagement of government, school boards,
  schools, students, parents, families and the
  broader community
• Leadership and Accountability
• The importance of equity
• Optimizing technology
• http//www.edu.gov.on.ca/eng/Financial_Literacy_En
  g.pdf

13
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

14
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

15
Questions

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

16
Financial Literacy A part of the Ontario
Curriculum

• Elementary and Secondary Scope and Sequence
  documents (www.edu.gov.on.ca)
• 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

17
Sample Expectation Related to Financial Literacy

• Grade 9 (SNC 1P)
• Science
• Assess the major social, economic and
  environmental costs and benefits of using
  electrical energy, distinguishing between
  renewable and non-renewable sources, and propose
  a plan of action to reduce energy costs

18
Sample Expectation Related to Financial Literacy

• Grade 11 (HIR 3C)
• Managing Personal and Family Resources
• Analyse the ways in which economic factors (e.g.,
  interest rates, consumer price index, inflation,
  unemployment rates, fluctuations in the value of
  the dollar) affect the family

19
Sample Expectation Related to Financial Literacy

• Grade 12 (AMU4M)
• Music
• Assess their interests, skills and knowledge in
  relation to a variety of careers in the arts and
  culture industry
• Teacher prompts What kinds of careers in music
  would allow you to combine your interest in the
  arts with social or political activism? What
  type of experiential learning might you pursue to
  help determine whether a career in the arts and
  culture sector suits you?

20
Connecting Financial Literacy

• Into school activities
• .
• .
• .
• Into real-life experiences
• .
• .
• .

21
Supports and Resources

• On the Ministry website you will find
• http//www.edu.gov.on.ca/eng/surveyLiteracy.html
• Elementary and Secondary Scope and Sequence
  documents
• Frequently Asked Questions
• A Sound Investment Financial Literacy Education
  in Ontario Schools
• Link to EDUGains website
• http//www.edugains.ca/newsite/index.html
• Initial sample of Elementary and Secondary videos

22
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

23
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)

24
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

25
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)

26
Next Steps

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