Allegra Fiorino laughs when asked if she was ever taught financial literacy at her Toronto high school. “I can confidently say that, no, I never was,” says the 18-year-old University of Toronto student. “I don’t even know what it is.”
Ms. Fiorino says the math questions in the curriculum were all about how fast planes were going – “problems you had to solve. There was nothing about mortgages. Or buying a car,” she says. “They’re not explaining how [someone] buys a house.”
She recalls one friend who launched a successful landscaping business in high school – only to see it fall apart through fiscal mismanagement. “I know one guy who at 16 made thousands of dollars on a landscaping business, and lost it all,” she says. “We really should be taught this in high school and at university.”
A newly announced Ontario government program aims to do just that – soon making financial literacy education a reality for high-school students…
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