TORONTO--(BUSINESS WIRE)-- Understanding financial literacy can be challenging, and as Canadians deal with the monetary effects of the COVID-19 pandemic in an increasingly digital economy, basic financial education is no longer enough. According to the quarterly Financial Wellbeing Index™ by LifeWorks, more than half of employed Canadians either have no or limited emergency savings that would cover less than two months of essential expenses. As Canada emerges into a post-pandemic society, it is critical to tackle the financial challenges Canadians are facing with knowledge, tools and resources.

During the Canadian Club of Toronto’s virtual event, “financial literacy is not nearly enough,” the panellists will explore the barriers Canadians face in understanding financial literacy, why there has not been much improvement in financial education over the last decade, and how digital solutions and behavioural science may be integral to solving the problem.

Comments from Idan Shlesinger, president, retirement and financial solutions and executive vice president, LifeWorks

“Our research has shown that one of the main reasons Canadians are struggling with their overall wellbeing is due to financial challenges. We know that the four pillars of wellbeing – mental, physical, financial and social – are interconnected and when someone struggles in one area, it can impact the others. By ensuring people understand their financial needs and have the tools to address them, they will improve not only their financial wellbeing but also their overall lifestyle and mental health.”

Comments from Bruce Sellery, CBC money columnist, chief executive Officer, Credit Canada

"This Canadian Club Toronto event has never been more important. As an industry, we need to shine a light on innovative ideas, amplify new voices, provide people with context, inspiration, insight, and a friendly kick in the pants. We need to talk like people talk, make financial literacy relevant and have some fun. Yes, we can have a little fun."

Virtual event details

What:		Financial Literacy is Not Nearly Enough, The Power of Digital in Driving Behaviour Change
When:		Thursday, November 4, 2021, from 12:00 p.m. to 1:00 p.m. ET
Where:		Virtual event, live stream link to be provided to registered attendees prior to event; online registration can be found here
Who:		Financial Literacy is Not Nearly Enough will feature the following speakers:
		• Idan Shlesinger, president, retirement and financial solutions and executive vice president, LifeWorks
		• Elizabeth Mulholland, chief executive officer, Prosper Canada
		• Dr. Supriya Syal, deputy commissioner, Financial Consumer Agency of Canada
		• Bruce Sellery, CBC money columnist, chief executive officer, Credit Canada

All are welcome to register and attend the Canadian Club Toronto’s virtual event made free by its sponsors.

About LifeWorks

LifeWorks is a world leader in providing digital and in-person solutions that support the total wellbeing of individuals. We deliver a personalized continuum of care that helps our clients improve the lives of their people and by doing so, improve their business.

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Source: LifeWorks