I recently read articles on the Web about how the Canadian government has set up a task force whose mandate is to educate the Canadian public about properly handling their finances. I think this is long overdue. Wouldn’t it be great if high school students took a class as part of their curriculum that discusses the pros and cons of RRSPs, TFSAs, and overall basic budgeting skills? They could pass this information on to their parents!
It is sad but true that many Canadians just don’t have a clue about how to handle their finances. They spend more than they earn and then find themselves in a hole too deep for them to dig themselves out of. Many people learn very little from their parents about money so they have to learn on their own, sometimes going through some difficult financial situations in the process.