British Columbia's education system aims to equip students with critical thinking and scientific knowledge for the future, yet it is neglecting a fundamental pillar of modern adult life: financial competence. According to commentator Eugene You, the current approach embeds money management within other subjects as a secondary concern. He argues the province's Ministry of Education must establish a standalone, mandatory financial literacy course as a graduation requirement to truly prepare youth for the 21st century.
The Current Patchwork is Failing Students
Under the present curriculum, financial concepts are only superficially covered. The mandatory courses that touch on money are Career-Life Education 10, Career-Life Connections 12, and either Pre-Calculus 10 or Workplace Mathematics 10. These introduce very basic ideas like budgeting and taxes but lack depth.
Crucial topics such as credit scores, responsible borrowing, investing, and long-term wealth building are confined to electives like Financial Accounting 12. These courses are often hidden behind prerequisites, depend on teacher availability, and are entirely optional. The result is a systemic gap in essential life skills.
The Sobering Consequences of Financial Illiteracy
The outcomes of this educational shortfall are measurable and severe. A study by the B.C. Securities Commission revealed that nearly 60 per cent of recent B.C. high school graduates scored less than 79 per cent on a basic financial literacy test.
This knowledge gap directly contributes to rising debt. The Credit Counselling Society reported in 2025 that young Canadians aged 18–34 carry an average debt load of $24,000, marking a nine per cent increase in just one year. Alarmingly, this demographic often normalizes using high-cost options like payday loans or "buy now, pay later" plans for daily necessities without fully grasping the burden of compounding interest.
The impact extends beyond bank balances. FP Canada identifies financial stress as the top stressor for Canadians, with researchers comparing its psychological toll to that of natural disasters.
Financial Literacy as a Lifelong Vaccine
Conversely, gaining financial knowledge has profound positive effects. Researcher Jenifer Robson found adults who completed financial literacy programs experienced lower stress, greater optimism, and improved self-control. Participants saved more consistently, defaulted less on debts, and built a foundation for long-term stability, even reducing poverty through wealth accumulation and lower banking fees.
You emphasizes that timing is critical. He likens learning financial skills early in life to a vaccine; it builds protective habits—such as saving, budgeting, and cautious borrowing—that guard against future financial ruin. "We don't wait for people to get sick before vaccinating them," he writes. "Why should we wait for people to drown in debt before teaching them how to stay afloat?"
The call is clear: for B.C. to fulfill its promise of preparing students, it must prioritize and mandate comprehensive financial literacy education for every graduate.
