Financial literacy at schools in Ontario: Here’s what’s being taught [Video]

Starting in September, Ontario high school students will have to pass a financial literacy test.

Financial literacy and home economics will be part of a “back-to-basics” approach in the classroom, said then-Minister of Education Stephen Lecce said at an announcement on May 30.

The component will show students how to do things like create and manage a household budget, save for a home or an asset and protect themselves from financial fraud. The financial literacy requirement will be developed by educators and financial literacy experts at TVO, in partnership with TFO and EQAO, the government said.

Teachers were already engaging in financial literacy when the government brought it into the curriculum in 2020, but it wasn’t “as formal as it is now,” Reg Lavergne, the program and learning innovation team superintendent at the Ottawa-Carleton District School Board (OCDSB), told CTV Morning Live Wednesday.

“So, between Grades 1 and 9 there is part of …