After talking to leaders in the financial industry, FuturFund realized that there were very few national youth-run financial literacy organizations. To fill this gap, FuturFund established the Financial Literacy Youth Network (FLYN). The FLYN is Canada’s first federally-recognized network to empower youth to take ownership over their finances.
The FLYN used open data from Statistics Canada on national graduates and student debt. With this data, the FLYN analyzed how debt accumulates and identified target audiences. It was also used to help raise awareness among youth on the importance of financial planning.
Through their network, the FLYN informs financial literacy education policies and practices to strengthen Canadian communities. The FLYN also gives individuals the tools they need to shape their financial future.
The FLYN advances youth-focused initiatives and provides insights on gaps in financial resources. This work empowers youth to take ownership over their financial future.
FLYN strives to be a leader at both the local and national levels and participates in discussions hosted by the Financial Consumer Agency of Canada (FCAC) and events such as the Open Government Partnership Summit. FLYN also partnered with Credit Canada as a Silver Sponsor to promote a Grade 12 Essay Contest, in which we encouraged high school students to share the “dumbest thing they ever did with their money”. The contest offered up to $5000 in scholarships per person; more than 850 students applied, and $160,000 was awarded.
- Lisa Pei and Wendy Wang, Western University