Education experts and advocates are questioning Ontario's already delayed plan to introduce a financial literacy requirement for high school students as part of the Grade 10 math course, with some saying the approach may actually discourage teens' interest in personal finances.
The requirement set to come into effect this September has been postponed until next year, along with several other curriculum changes.
The province has said that students will learn home economics such as managing a household budget, and will need to score at least 70 per cent on a financial literacy test in order to graduate.
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While many educators agree the financial literacy requirement is a much-needed addition to the curriculum, the standardized test component and its place in the Grade 10 math curriculum are under scrutiny.
A mandatory test may risk creating "a negative association with personal finances for a young person," said Gail Henderson, director of the business law program at Queen’s University who also researches financial literacy education.
The approach should prioritize developing students' confidence to make financial decisions, which isn't conducive to a high-stakes test-based environment, she said.
Instead of a test, Henderson said the government should consider a portfolio where students can compile and showcase their work, allowing teachers to give feedback along the way and tailor their lesson plans based on student progress.
Another issue Henderson raised about a standardized test is that questions are generally tailored to upper- and middle-class financial experiences, and students coming from lower-income families may not see their situations reflected in the curriculum.
"(Standardized tests) don't capture the everyday skills people use to manage on a very tight budget," she said.
While teachers may have the liberty to adjust their lessons based on varying socioeconomic experiences within the classroom, Henderson said teachers will still ultimately have to "teach to the test."
Because education curriculums only outline learning outcomes without diving into specifics on how to teach a given subject, that may create additional strain on teachers who have to incorporate financial literacy into an already jam-packed Grade 10 math course, Henderson added.
"I don't think we can leave that up to math teachers alone," she said.
Members of the Ontario BusinessEducators' Association are also questioning if Grade 10 math is the best place to incorporate the financial literacy requirement.
"We're concerned that financial literacy is going to get lost because they have a whole lot of other expectations to meet the Grade 10 curriculum for math," said Bill Velos, former president of the business association.
MalisaMashud, vice-president of membership at the business association, said she'd rather see the introduction of a mandatory financial literacy course taught by business teachers who bring expertise in finance.
"Couldn't we have a business teacher be the one teaching financial literacy … rather than having to push this to the educators in the math department?" said Mashud, who is also the business department head at David and Mary Thomson Collegiate Institute in Toronto.
"It just feels like an opportunity that's lost."
Many business teachers are already implementing financial literacy in the classroom either by introducing smaller lessons into existing business courses or by creating distinct money management elective courses, but the association said they worry about the students who aren't taking these optional business courses.
With many students filling their schedules with science and math courses as post-secondary education prerequisites, Mashud said they don't have room to take a business elective.
While the business educators are calling for further consultation on the financial literacy requirement, they also said its pause until 2026 warns of "a delay in urgency."
"It may signal to educators that financial literacy is just not a priority," said Emilia Marotta-Kulcsar, president of the association.
Other delayed curriculum changes include a focus on literacy and STEM — or science, technology, engineering and mathematics — in kindergarten and adjustments to history lessons for Grades 7, 8 and 10.
Education Minister Paul Calandra's office said in a statement that it decided to adjust the curriculum rollout timeline to "ensure a more consistent approach across the province" and give teachers more time to adapt to the changes.
"This is to ensure comprehensive teaching resources are available to accompany the revised curriculum in advance of implementation," wrote Emma Testani, Calandra's press secretary.
The ministry did not comment on whether it would be hosting additional consultations or if it would consider making changes to the scheduled curriculum overhaul.
"These changes aim to empower students to be ready to make informed financial decisions, enhance their financial literacy, and contribute to Ontario's economic prosperity," Testani wrote.
This report by The Canadian Press was first published Aug. 29, 2025.
