New findings show that consistent support helps Pathways students develop the skills to manage their financial futures.
As the cost of living continues to rise, more young people in Canada are being forced to make financial decisions without the tools to navigate them. For the roughly 300,000 young people living in low-income communities across the country, practical financial literacy skills are becoming increasingly essential.
Owen Hinds, Senior Manager of Community Engagement at Pathways Canada, explains that Pathways students often come from families facing financial hardship. “Many of our students are growing up in environments shaped by economic scarcity,” he says.
As a result, students are often forced to navigate complex financial systems for the first time with little family support. For newcomer students, this can mean learning how Canada’s banking and credit systems work while trying to adjust to a new country.
Pathways Program locations across the country are responding to this challenge by delivering financial literacy support on budgeting, saving, and planning to help students understand and manage their finances over the long term.
Surveys conducted between 2021 and 2025, with support from the RBC Foundation, examined how the program helps students build financial literacy skills.
Drawing on insights from more than 500 participants across four Pathways Program locations in Hamilton, Spryfield, Winnipeg, and Vancouver, findings showed that that 62 per cent of students felt better prepared to responsibly manage their money after receiving support through training, workshops, and guidance on financial skills. Preparedness was highest for young people born outside of Canada, at 71 per cent.
The data also highlighted the importance of ongoing support. Students who received three or more instances of financial literacy support reported higher levels of preparedness to responsibly manage their finances.
Reflecting on the survey findings, Hinds says they demonstrate the importance of consistent, holistic support early on in helping students achieve long-term success: “When students understand how financial systems work, and know where to turn for support, they are far more prepared for life after high school,” he says. “That confidence can influence the choices they make for years to come.”
What This Means for Youth
As students in the Pathways Program approach high school graduation, many encounter major financial processes for the first time, such as opening a first bank account, applying for student loans, or budgeting for housing.
For students like Vaksan, support from Pathways during this time can be critical in helping them achieve their long-term goals.
Vaksan, Pathways Scarborough Village alum and MBA Candidate, Smith School of Business, Queen’s University
Vaksan knew he wanted to pursue a career in business. As the eldest of three children, he was eager to set a good example, but navigating the path to university felt overwhelming. “Because I was the first person in my family to go through the application process, I didn’t know where to start,” he recalls. “I had the grades and the ambition, but financially, it felt out of reach.”
Vaksan’s support worker at Pathways Scarborough Village introduced him to a series of workshops on budgeting, scholarships, student loans, and grants. In addition to regular one-on-one guidance, these resources helped him understand how to manage the costs of post-secondary education. He ultimately succeeded in funding his education through a combination of scholarships, grants, and careful financial planning.
Today, Vaksan holds a Bachelor of Commerce from Queen’s University and is currently pursuing his MBA at its Smith School of Business. He looks forward to building a career in finance and strategy. “Pathways not only helped me access funding, but they also helped me build confidence in making financial decisions. Without that support, I would have felt very lost,” he says. “I am forever thankful for the guidance and encouragement I received.”