In response to the 2010 Ministry of Education Working Group on Financial Literacy report that identified the importance of financial literacy education in supporting the success of all students, the University of Waterloo's School of Accounting and Finance (SAF) established the Financial Literacy Competition to assist in educating and promoting financial responsibility.
The university hosted 883 students from 29 different schools in Ontario and Saskatchewan. Students competed in one of two categories; junior (grades 9 and 10) and senior (grade 11). The competition contains 60 questions (primarily multiple choice, short answer and sort/match/rank) covering a wide variety of financial literacy topics in the following areas:
- Income Management & Budgeting
- Post-secondary education financing
- Financial ethics and safety
Gabriel St-Aubin, student at John Fraser Secondary School, was the top performing senior student and was the recipient of a $2,000 RESP prize for future post-secondary education. John Fraser also placed first as the top performing school and received $500 for classroom enhancements. A number of students received honour roll awards, including Thomas Xu, Humdaan Javed and Daniel Lupas from John Fraser, and Rebekah Tong from Stephen Lewis Secondary School.
For more information, visit www.uwaterloo.ca/financial-literacy-classroom