British Columbia Urged to Prioritize Financial Literacy in Schools

British Columbia’s education system is facing criticism for failing to adequately prepare students for the financial realities of adult life. Despite a curriculum that emphasizes critical thinking, scientific knowledge, and cultural awareness, financial literacy remains a secondary consideration. Advocates argue that the B.C. Ministry of Education should make financial literacy a mandatory graduation requirement to equip students with essential money management skills.

At present, the only courses touching on financial concepts include Career-Life Education 10 and Career-Life Connections 12, along with either Pre-Calculus 10 or Workplace Mathematics 10. These classes introduce limited topics, such as basic budgeting and taxes, while issues like credit, borrowing, and investing are relegated to optional electives. Consequently, many students graduate without a comprehensive understanding of vital financial subjects, such as credit scores and long-term wealth building.

The consequences of this educational gap are significant. According to a study by the B.C. Securities Commission, nearly 60 percent of high school graduates in the province scored below 79 percent on a basic financial literacy assessment. This deficiency contributes to a troubling rise in debt levels among young Canadians. A report from the Credit Counselling Society in 2025 indicates that individuals aged 18 to 34 carry an average debt of $24,000, reflecting a 9 percent increase in just one year.

Financial stress has emerged as a leading concern for Canadians. Research from FP Canada reveals that the psychological toll of financial difficulties resembles that of a natural disaster, such as Hurricane Katrina. The need for financial literacy has never been more pressing, as it not only helps individuals manage their finances but also alleviates the mental burden associated with financial crises.

Evidence suggests that effective financial education can yield positive outcomes. Researcher Jenifer Robson found that participants in financial literacy programs experienced decreased stress levels, improved optimism, and enhanced self-control. These individuals saved more regularly, defaulted on loans less often, and established long-term financial stability. Most importantly, the timing of this education is crucial. Learning financial skills early in life fosters habits that protect against financial ruin.

As technology transforms the financial landscape, the curriculum must adapt accordingly. The B.C. education system has a history of evolving to meet modern challenges—previously, outdated courses in Information and Communications Technology were replaced with more relevant subjects. The same approach should apply to financial literacy, which is increasingly vital in the context of digital banking and modern credit systems.

The call for change is clear: the B.C. Ministry of Education should prioritize financial literacy in its curriculum. Without this essential education, each new graduating class risks entering adulthood unprepared for the financial realities they will face. As students like Eugene You, a Grade 12 student at Point Grey Secondary School, highlight, it is time for a shift that ensures all graduates possess the financial skills necessary for success in the 21st century.