Alberta
Making money matter to Alberta students
From the Government of Alberta.
Alberta’s government is getting students the training they need to better understand saving, budgeting, spending and investing.
To make sure junior and senior high students have the financial knowledge for today’s world, Alberta’s government is releasing a call for grant proposals totaling $1 million. The successful organization, or group of organizations, will work with schools to provide financial literacy programming to students starting in fall 2021.
Students will study financial concepts such as costs, interest, debt, investing, insurance and how the economy affects their lives. This call for grant proposals will expand learning opportunities to students in classrooms across the province.
“For the first time in a meaningful way, financial literacy is being addressed across multiple subjects and grades in an age-appropriate way in our province. Understanding how money works will help students gain confidence, solve practical problems and prepare them for the future.”
“Strong financial management is the foundation of a successful economy. Likewise, it’s an essential life skill that can add immense value to one’s personal endeavours. This is why I’m proud of the $1 million investment in financial literacy education, which will support our youth transitioning into adulthood and better equip them for personal and professional success.”
“Integrating financial literacy concepts across multiple grades will help to ensure we don’t just prepare students for a successful career, but for a successful life. Teaching financial literacy will empower countless Alberta students with the foundational tools needed not only to manage their finances, but to build their own business. These are essential skills for our changing economy.”
“It’s never too early to become financially literate. The ability to understand finances, in terms of budgets, income, expenses, saving, borrowing, credit – this is knowledge, skills and practices that will not only last one’s entire life, but enable young Albertans to set themselves up for success and to lead a prosperous life. Students are Alberta’s future entrepreneurs – future business owners, restauranteurs, innovators, creators – all roles that require sound knowledge and insight into finances and budgets. I applaud the Government of Alberta for investing in the financial literacy of Alberta’s next generation.”
This call for grant proposals builds on successful current financial literacy programs, including those offered by Enriched Academy and Junior Achievement in the 2020/21 school year. These organizations have been working with 39,000 students in Grades 4 to 12 in the past year – in urban and rural communities.
“Normally, the seriousness involved in personal financial literacy can be overlooked when you’re 15 or 16. But through this training, my students and I have been able to have meaningful, quality conversations about investing, credit, debt and so much more.”
“Before joining Junior Achievement, all I knew was that companies pay their employees, and people have to budget their own money. However, after joining, I learned that there are so many more steps and so much effort goes into this. I’ve also learned all about making decisions that financially benefit a business or individual – break-even points, budgeting, investing, financial management and so many more financial skills. This program has made a change in my life for the better.”
By focusing on financial literacy, Alberta’s government aligns with the Ministerial Order on Student Learning released last fall. Developed following consultations with parents, teachers and education experts, it calls for students to acquire competence in managing personal finances.
Financial literacy was also among recommendations from Alberta’s independent curriculum advisory panel. In their report, the panel noted students may leave Grade 12 without the basic skills necessary to transition successfully into life after high school. They recommended financial literacy, work readiness, wellness and goal-setting to enhance student learning.
As part of the work to refocus on essential knowledge in Alberta’s elementary schools, financial literacy is also a key component of Alberta’s draft kindergarten to grade 6 curriculum, under the theme of practical skills. In the draft, all students will study financial literacy in all subjects and grades – from counting coins to creating a budget.
Quick facts
- Details on the call for grant proposals will be available in May through the Alberta Purchasing Connection.
From the Fraser Institute
By Tegan Hill
Amid the economic uncertainty fuelled by Trump’s trade war, its perhaps more important than ever to understand Alberta’s crucial role in the federation and its outsized contribution to programs such as the Canada Pension Plan (CPP).
From 1981 to 2022, Albertan’s net contribution to the CPP—meaning the amount Albertans paid into the program over and above what retirees in Alberta received in CPP payments—was $53.6 billion. In 2022 (the latest year of available data), Albertans’ net contribution to the CPP was $3.0 billion.
During that same period (1981 to 2022), British Columbia was the only other province where residents paid more into the CPP than retirees received in benefits—and Alberta’s contribution was six times greater than B.C.’s contribution. Put differently, residents in seven out of the nine provinces that participate in the CPP (Quebec has its own plan) receive more back in benefits than they contribute to the program.
Albertans pay an outsized contribution to federal and national programs, including the CPP because of the province’s relatively high rates of employment, higher average incomes and younger population (i.e. more workers pay into the CPP and less retirees take from it).
Put simply, Albertan workers have been helping fund the retirement of Canadians from coast to coast for decades, and without Alberta, the CPP would look much different.
How different?
If Alberta withdrew from the CPP and established its own standalone provincial pension plan, Alberta workers would receive the same retirement benefits but at a lower cost (i.e. lower CPP contribution rate deducted from our paycheques) than other Canadians, while the contribution rate—essentially the CPP tax rate—to fund the program would likely need to increase for the rest of the country to maintain the same benefits.
And given current demographic projections, immigration patterns and Alberta’s long history of leading the provinces in economic growth, Albertan workers will likely continue to pay more into the CPP than Albertan retirees get back from it.
Therefore, considering Alberta’s crucial role in national programs, the next federal government—whoever that may be—should undo and prevent policies that negatively impact the province and Albertans ability to contribute to Canada. Think of Bill C-69 (which imposes complex, uncertain and onerous review requirements on major energy projects), Bill C-48 (which bans large oil tankers off B.C.’s northern coast and limits access to Asian markets), an arbitrary cap on oil and gas emissions, numerous other “net-zero” targets, and so on.
Canada faces serious economic challenges, including a trade war with the United States. In times like this, it’s important to remember Alberta’s crucial role in the federation and the outsized contributions of Alberta workers to the wellbeing of Canadians across the country.
Show your Alberta side. Buy Local. |
When the going gets tough, Albertans stick together. That’s why Alberta’s government is launching a new campaign to benefit hard-working Albertans.
Global uncertainty is threatening the livelihoods of hard-working Alberta farmers, ranchers, processors and their families. The ‘Buy Local’ campaign, recently launched by Alberta’s government, encourages consumers to eat, drink and buy local to show our unified support for the province’s agriculture and food industry.
The government’s ‘Buy Local’ campaign encourages consumers to buy products from Alberta’s hard-working farmers, ranchers and food processors that produce safe, nutritious food for Albertans, Canadians and the world.
“It’s time to let these hard-working Albertans know we have their back. Now, more than ever, we need to shop local and buy made-in-Alberta products. The next time you are grocery shopping or go out for dinner or a drink with your friends or family, support local to demonstrate your Alberta pride. We are pleased tariffs don’t impact the ag industry right now and will keep advocating for our ag industry.”
Alberta’s government supports consumer choice. We are providing tools to help folks easily identify Alberta- and Canadian-made foods and products. Choosing local products keeps Albertans’ hard-earned dollars in our province. Whether it is farm-fresh vegetables, potatoes, honey, craft beer, frozen food or our world-renowned beef, Alberta has an abundance of fresh foods produced right on our doorstep.
Quick facts
- This summer, Albertans can support local at more than 150 farmers’ markets across the province and meet the folks who make, bake and grow our food.
- In March 2023, the Alberta government launched the ‘Made in Alberta’ voluntary food and beverage labelling program to support local agriculture and food sectors.
- Through direct connections with processors, the program has created the momentum to continue expanding consumer awareness about the ‘Made in Alberta’ label to help shoppers quickly identify foods and beverages produced in our province.
- Made in Alberta product catalogue website
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