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Financial Literacy

Posted 8/6/2019

All individuals must increase their financial literacy. Canadians and Americans developed into a nation of consumers, rather than savers and producers. Debt enslaves, robbing you of independence. Saving will bring you freedom. So many North Americans treat money as an entitlement. Once everyone becomes financially literate, we can hold our governments more accountable; governments will spend less, taxes will lower.

Conversing with young people, their parents and even a few teachers, each expressed to me they want, we need financial literacy education. Integrating financial literacy into our curriculum is my personal goal. It took only a few years to be untaught but will take decades to reteach financial literacy. Canadian Foundation for Economic Education (CFEE) stated that Canadian parents overwhelmingly wanted increased financial literacy. [1]


To presume we can spend without repercussions and believe our “RICH” neighbours will continue to provide and support us by paying their fair share through taxes is a fragile glass house. Consumption isn’t all bad, it is bad when you don’t save and purchase “gotta have” non-necessities on credit. Many individuals today cannot differentiate between needs and wants.


Our socialist interventionist governments refer to welfare programs as "entitlements”. This word – and what it represents – has purposefully become ingrained into young people's brains. First of all, our kids must realize, must know they are not entitled to money or wealth… or anything, even birthday and Christmas presents. They must earn money, earn wealth. I want all children to learn they should expect nothing and nothing shall be handed to them. I don't want them to rely on the government for their livelihood, like so many individuals right now. But if our kids have a firm grasp of finance and its basics – and they obey its laws—they will grow up rich.


In the past 10 plus years we’ve seen first hand the results of governments and individuals when they overspend. Portugal, Italy, Spain, Greece, Ireland, United States and Canada. We’re living an impending economic crisis. The norm over the past two decades has become one of indulgence, not sacrifice nor personal responsibility.


The collapse of personal savings placed us on a dangerously high precipice. We must return to self-sacrifice and personal responsibility. We must educate our children. Teaching should start in the home, but generations of parents have not learnt basic economics due to years of socialism, that the government will provide. Sadly, we must now rely on our anti-free market socialised education system to introduce the importance of financial literacy. I am sick that the wealth I created by sacrifice and continued learning, will be redistributed by an inept bureaucracy for bail outs, quantitative easing and stimulus packages to pay for an unenlightened greedy leftist’s wants.


Because of the danger of destructive socialistic government policies, individuals should study economics, it complements financial literacy. Everyone must understand that government released economic statistics (Consumer Price Index and GDP figures) are nothing more than propaganda and manipulation at its purest form. Simple economics: living beneath your means; being productive; and investing in your future. That is what a government must implement to strengthen our nations.


Picture yourself shipwrecked on a deserted island. Rather than working for “the man” as many socialists call it, you are now forced to work for yourself to ensure your survival. Do you only work hard enough to feed yourself daily, or do you work to save for a rainy day or when you are sick and unable to work?  Why doesn’t government think and work this way?  And why don’t our fellow Canadians and Americans live this way?


The argument “Of the public good”, is it not the public good to provide for oneself.


[1]              New Area of Financial Literacy, Scott Larson, The StarPhoenix April 17, 2013 




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