By Anne-Sophie Daigle

Publié le 15 juin 2026

As the lecturer, Dave Ramsey, said, “You must take control of your money, or the lack of money will control you forever.” Nobody wants to be controlled by their money. Am I right? 

Today, financial responsibilities begin at a young age, especially for students transitioning into adulthood. Many must handle expenses such as school fees, rent, and daily living costs shortly after finishing school. At the same time, financial concepts like credit, interest rates, and budgeting can be complex and are not always formally taught. It’s imperative that the higher education system adapts to the new reality of CEGEP students and establishes mandatory finance courses.  

Financial education is necessary: I’m a living proof of it; studies confirm it and so do professionals. Since I was very young, finances have always been a source of stress. I try as much as possible to spend little, and I started working at the age 14 to begin accumulating money. I don't know where this anxiety comes from, because I have never lacked anything and my parents do not have financial problems. However, I am an anxious person by nature, and the current context doesn’t help. Prices are rising, and more people are no longer able to meet their needs. Everyone keeps telling us, “It’s going to be impossible to buy a house, prepare yourselves now.” I feel like I know absolutely nothing about managing money wisely. I know there are several ways, but which one is best for me? What are the potential risks? I have dozens of questions but no one to answer them.  

In Quebec, according to a study by Kaleido, financial literacy is low, with an average score of 54%, well below international standards. For example, in Denmark, the score is 71%. Among 18-to 24-years-old, participants scored 57% on a financial knowledge test conducted by WelcomeSpaces, showing that many students enter adulthood without truly understanding how money works. For instance, 33% do not understand compound interest, even though it’s essential for managing debt and investments. Furthermore, less than 43% know the rules regarding RRSP contributions, and 68% don’t know what a mortgage insurance premium is. They are NOT prepared for real-life financial decisions. 

An indirect effect is the impact on the mental health of young people. Indeed, 55% of respondents say they feel anxious about their finances, and 40% say their stress has increased recently. 

On April 7, 2026, I spoke with an economics professor, Simon Tremblay, formerly a financial advisor. He agreed with my idea, as he has also noticed a lack of knowledge in this area. He added that young people have no idea about options available to them such as scholarships, student loans, or investments. Mr. Tremblay mentioned that on social media there is a lot of misinformation about crypto or digital marketing and that young people easily believe it: “My algorithm suggests a lot of content about finance, and it's alarming how much false information there is.” According to him, the difficulty can be attributed to the lack of resources. 

In conclusion, the lack of financial education means that many CEGEP students are poorly prepared to enter adulthood. When faced with important financial decisions, they lack the necessary knowledge to make informed choices. Evidence from studies, surveys, and professionals shows that this lack leads to confusion, stress, and risky decision-making. Adding this type of course to the CEGEP cursus is essential to prepare young people for their future. This topic connects to the Sustainable Development Goal (SDG) of quality education, as financial literacy is an essential skill for making good decisions. Making this course mandatory would help reduce inequalities by giving all students the same chances to better manage their finances.  

We want the best for future generations. 

BIBLIOGRAPHY

How young people are reinventing savings, BFM Business, March 16, 2026, Vidéos Bing Young people have more interest in investment, but they do not have the necessary resources to succeed well (AI).

Portrait financier des 18 à 44 ans au Québec, Finance et investissement, August 11, 2023, Portrait financier des 18 à 44 ans au Québec | Finance et Investissement, A study by WelcomeSpaces shows that young Quebecers have limited financial literacy, increasing anxiety, poor budgeting habits, and prefer human financial advice over AI advice.

Éducation financière : nos jeunes sont-ils prêts pour la vie adulte ?, LA PRESSE, November 25, 2024, Forum des affaires | Éducation financière : nos jeunes sont-ils prêts pour la vie adulte ?, Financial education in Quebec is insufficient and introduced too late, parents and experts want a program reform to better prepare young people. 

Les jeunes anxieux et toujours illettrés en finances personnelles, le journal de montréal, August 10, 2023, Les jeunes anxieux et toujours illettrés en finances personnelles | JDM, Young Quebecers show a concerning lack of financial literacy and rising anxiety, and experts call for earlier financial education to improve their long-term financial decisions.  

L’éducation financière est l’un des outils les plus efficaces pour réduire les inégalités, September 20, 2024, Les difficultés financières de la jeune génération : aperçu du sondage d’Equifax Canada | Allevia, Financial literacy in Latin America and the Caribbean is low, but evidence shows that financial education provided at school can improve the financial behaviors of students and even parents, reduce debt problems, and help decrease inequalities 

L’éducation financière, levier clé de l’inclusion économique : un enjeu stratégique pour l’OCDE et le Ministère de l’éducation, Éducation financière Inclusion économique OCDE Ministère de l’Éducation nationale Stratégie EDUCFI, Financial education is a priority for the OECD and governments like France, aiming to improve financial literacy, support better economic decision-making, reduce inequalities, and prepare young people for financial autonomy in our current economy.