Meet the financial expert who helped shape Ontario’s new math curriculum

When the provincial government announced a review of Ontario’s secondary school diploma requirements on May 30, no one was more excited than Saijal Patel.

In particular, the Waterdown financial analyst is pleased to see the changes include a financial literacy component added to the Year 10 curriculum; starting in 2025, students must score 70% or higher to qualify for graduation.

The idea, after all, was her baby, and the issue is one that Patel has been passionate about throughout her career.

“It’s so overdue,” she said of the changes, which focus on making sure students have the skills and knowledge to create and manage a household budget, save for a home, learn to invest wisely and protect themselves of financial fraud.

“It’s so important for Canadians to understand and have those skills, not just … for themselves, so they can better manage their money, to accomplish the things that matter most to them, but it’s, of also to understand how money works so we can advocate for policies that make sense,” she said.

Those changes might never have happened if not for a chance meeting with Premier Doug Ford in a furniture store last fall. According to Patel, she was shopping for a sofa in Stoney Creek with her mother, who left by herself for a few minutes.

“And she comes back 15 minutes later with a big smile on her face and says, ‘Guess who I bumped into?'” Patel said. “She said, ‘Prime Minister Ford is here.’ Like he literally bumped into him.”

Introductions were made and a photo or two was taken. Patel presented his background in finance; Ford gave Patel his number and told him to call if he ever needed anything.

“And I said, actually, I don’t need anything from you except one thing,” she said. “I said, ‘You need to make financial literacy mandatory in high schools.'”

Things took off quickly from there. Within 24 hours a meeting was set up with Stephen Lecce (last week named Energy Minister and replaced by new Education Minister Todd Smith). On November 10, Patel made a presentation in Lecce and the Prime Minister at Ford’s home.

“I met with them and they asked me a lot of questions. I made the case for why this is important,” Patel said.

After a few more meetings with various key people – the last being around mid-March – things quieted down.

“I had no idea what was going to happen,” Patel said. “And then two weeks ago I got a call saying, ‘Are you sitting down?'”

The plan was moving forward and the minister’s office was seeking a quote from Patel for the press release. She offered her official statement:

“By equipping our youth with financial literacy, we empower them to navigate life’s financial landscape with confidence and competence. This investment in their education not only secures their future, it also lays the foundation for a stronger and more prosperous Ontario. As a financial well-being. Teachers, I echo Minister Lecce’s sentiments and commend the Ford government for supporting this critical step toward equipping our students with the tools for lifelong success.”

Patel worked in the financial industry for several decades, then as a business journalist as a correspondent for CNBC in Singapore and as an anchor for the Business News Network in Toronto. These days, she devotes her talents to educating women about financial wellness through her company, Saij Wealth Consulting.

Education and awareness has actually become something of a mission for Patel. She notes that being financially well is just as important as being physically and mentally healthy – but it’s rarely discussed openly at home or at school.

“When I teach women and do workshops, the number one comment I get by far is, ‘Why aren’t these things taught in schools?’ Or, “I wish I’d known that when I was younger, I’d be in a completely different financial situation if I’d known that.”

“And then it becomes, ‘I’m so glad I know this, because now I can have this conversation and I can teach my kids.’ So I knew I was on to something.”

As the new OSSD requirements move forward, Patel expects the ministry to gather input from personal finance experts to shape the curriculum. She would like to be involved, possibly as a resource for teacher training.

“For me, I think the key is going to be the execution and how they’re going to support teachers as well, because a lot of teachers may not have those skills,” she said.

And to inspire students, teachers need to be excited about the subject.

“You want to make sure the teachers are inspired and understand that and can in turn inspire the kids,” she said. “Because the last thing I want students to feel is, ‘Oh, that’s boring,’ or ‘That’s math.’

“This is an essential life skill and we need to make sure they understand that.”