“Give a man a fish and he will eat for a day, Teach a man how to fish and he will eat for a lifetime”. This famous quote epitomizes EFLS’ basic philosophy when it comes to financial literacy education.
As a leading pioneer in delivering financial literacy education in Canada since 2003; the Edmonton Financial Literacy Society (EFLS) is a registered non-profit charitable organization that has to date, delivered impartial financial literacy education to over 3,000 people, predominantly focusing on low income clients, including Aboriginals, Recent Immigrants, Youth, and other low income segments via partnerships with over 50 different organizations.
EFLS is the only non-profit organization in Edmonton specializing in financial literacy & was among the first organizations in Canada to deliver financial literacy education with a matched savings component. Furthermore, EFLS dedicates 100% of its resources to financial literacy and its success is largely the result of it having developed and utilizing its own unique learning materials and approach to education.
Unlike other money management approaches, EFLS utilizes a comprehensive holistic approach as its financial literacy courses don’t just teach budgeting skills and tracking one’s expenses; the curriculums look in depth at the human emotions that drive spending and money management and help people to have a healthier relationship with their personal finances. Furthermore, EFLS’ courses emphasize the use of interactive learning materials to ensure greater knowledge retention.
EFLS recognizes that simply possessing knowledge does not necessarily induce a positive change in a person. A common example is the fact that most of us are aware that maintaining a healthy weight, eating properly and exercising regularly leads to a longer life. However, despite this medically proven fact, many of us don’t follow this doctrine or perhaps stray from it more often than we should.
To address this issue, EFLS accesses and utilizes resources from the field of Behavioral Economics in its programming. EFLS strives to ensure that individuals who receive its programming not only enhance their level of financial knowledge but will also apply that new found knowledge in their daily lives on a long term basis. EFLS courses are designed not just to educate, but to positively change behaviors and thus increases the success of each project it manages.