Every November, Financial Literacy Month reminds us that understanding money is essential to building a stable and confident future. Managing personal finances, planning and making informed choices are skills that shape every stage of life. Yet these abilities rest on a deeper foundation that often goes unnoticed: literacy itself.
At United for Literacy, we see every day that confidence is the gateway to learning. When people feel comfortable reading, writing, doing math and asking questions, their skills accelerate. We also know that confidence starts early. Alongside our work with adults across Canada, we invest in children and youth so they build curiosity, problem solving and the basic money sense that will serve them for life.
Confidence also travels across generations. When adults gain new skills, they share that knowledge at home. Children who see parents reading or discussing bills grow up knowing that money is not a taboo subject. Similarly, when young people learn to ask questions early, they become adults who make thoughtful, informed decisions. In that sense, financial literacy is not a single subject but a lifelong and intergenerational process.
However, confidence alone is not enough. It must be paired with strong literacy skills. According to the Organization for Economic Co-operation and Development, one in five Canadian adults performs at the lowest literacy level. Millions struggle to read instructions, compare interest rates or interpret a bank statement. Without essential reading, writing and numeracy skills, managing money becomes harder and financial education reaches fewer people.
This is not just a personal issue; it is an economic one. Literacy is a national asset. When literacy levels rise, productivity grows, inequality shrinks and communities thrive. Even a 1% increase in average literacy could add tens of billions of dollars to Canada’s GDP. The payoff would be a stronger job market, healthier families and resilient local and national economies.
To achieve this, access matters as much as ability. Financial education cannot succeed if it is distant from where people live and learn. That is why United for Literacy delivers programs in spaces where people already feel welcome.
In Edmonton, we partner with a local food bank to offer free learning sessions that combine reading, numeracy and practical financial topics. In shelters, we integrate money management into group learning so that people rebuilding after hardship can practice, ask questions and regain control. In settlement agencies, we pair plain-language financial concepts with literacy and numeracy lessons that help newcomers navigate life in Canada.
When education happens in familiar places, participation increases and the stigma around talking about money begins to fade.
Trust is the final ingredient that allows learning to take root. People engage when they feel heard and respected. A volunteer tutor who remembers your goals or a facilitator who invites every question can shift someone’s entire relationship with learning.
In our work with shelters, for example, trust is often the first real achievement. Once participants feel safe, they start to see that they can manage information, make informed decisions and take small but meaningful steps toward financial stability.
The lesson from all of this is clear: financial education cannot be a one-off campaign or a series of isolated workshops. It must be continuous, inclusive and grounded in reading, writing and numeracy throughout life. Building confidence, access and trust requires sustained investment and cross-sector collaboration. Governments, financial institutions and community organizations must align their efforts so that literacy and financial literacy advance together.
Invest, integrate and measure
Here are five ways to make that happen:
- Invest early and consistently. The abilities developed before age five shape how people understand, solve problems and manage money later in life.
- Integrate literacy and financial education. Programs that build on strong reading, writing and numeracy foundations create lasting change.
- Use clear and inclusive language. Everyone should be able to understand and use the financial information they receive in schools, banks, workplaces or community settings.
- Support community organizations. Stable, long-term funding allows trusted local partners to provide welcoming spaces, flexible schedules and responsive programming.
- Measure what truly matters. Beyond testing knowledge, track how confidence, participation and financial well-being grow over time.
When people can read, understand and act on financial information, the ripple effects are profound. Parents can guide their children. Workers can make informed decisions about benefits and retirement. Entrepreneurs can plan for growth. Communities prosper when citizens have the confidence and tools to participate fully in economic life.
Financial literacy is not an isolated skill. It is a community-powered journey rooted in trust, confidence and access. When we strengthen literacy, we strengthen financial literacy and with it, the foundation of an inclusive and resilient economy.
This Financial Literacy Month, let us look beyond numbers in accounts to the words, understanding and confidence that make those numbers meaningful.
Mélanie Valcin is president and CEO of United for Literacy, a national charitable organization that hosts Game Night for Literacy in Toronto each March.