EFLS recognizes that educating people about financial literacy is not effective unless it positively changes behaviours. The lack of in-depth financial literacy education within Canada is resulting in escalating household debt to income ratios, predatory lenders, and lots of poor decisions.

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.

The difference between Budgeting & Financial Literacy:
Budgeting: A plan prepared for allocating one’s financial income, usually conducted on a monthly basis.

Financial Literacy: Possessing the knowledge, skills and psychological insight into one’s motivations and behaviours so that financial decisions are responsible, conducive and realistic in relation to one’s personal circumstances.

EFLS strongly believes that there is a direct correlation between; How one views money and its role in their life and How well that individual will be able to manage their money.

Unless an individual has some psychological insight as to why one tends to spend money frivolously, or why one accumulates unmanageable levels of credit card debt, or why one has a deep seeded need to impress others with their material possessions; simply instructing an individual on how to prepare a budget and to cut back on their spending will have little impact on their financial circumstances.