Business management student and Fanshawe Student Union (FSU) Finance Coordinator for the 2024/2025 term, Jerry Thomas, is on a mission to empower his peers with the financial knowledge and skills they need to navigate their futures confidently.

“There was one line which motivated me: don’t assume you’re not qualified for any job role and don’t apply for it,” Thomas said.

Despite not having a formal economic background, Thomas’ retail manager experience gave him transferable skills in project management, operations, and finance. These skills, combined with his enthusiasm and determination, secured him the role of Finance Coordinator.

“I have always wanted to have a business of my own. Before coming to Canada, I initially started a business with one of my friends,” Thomas said. His ambition to be a CEO drives his dedication to financial literacy. However, Thomas’ passion for financial literacy stemmed from his classmates’ observations.

“I see a lot of my peers struggling right now, maybe managing their budget entirely or maybe, you know, utilizing credit,” Thomas said.

At the same time, Thomas highlighted the complexities of credit management, a concept often unfamiliar to international students.

“Credit is a very different concept over here. You also need to have a credit history and credit score. That’s a big thing.”

Thomas emphasized the importance of FSU workshops in his strategy.

“Workshops are always the initial key for everyone. So, this year, I want to focus on the workshops on student issues. One is maybe understanding about banking. Then we have credit, another issue students don’t know about. Then we have tax clinics, a vast concept because international students face many challenges in filing taxes or finding the resources and knowledge about taxes. So, these are the workshops I will focus on mainly, which is currently in the plan,” Thomas said.

Innovative projects like Financial Bingo and FSU Monopoly also receive positive feedback from students.

“Financial Bingo was more towards an event to raise money for a charitable organization. Still, it also taught students how to manage money because one of the facts in Canada or maybe all around the world is that most students are not aware much about financial assets,” Thomas said.

Another engaging initiative involves creating social media content where students answer financial literacy questions for prizes, thereby making learning interactive and fun.

“Students will answer three or four questions about financial literacy. They will receive a gift card or other prize if they can answer them. At the end of the videos, students who have responded to the questions will share their budgeting or financial aid tips,” Thomas explained.

These videos will be posted the FSU’s social media accounts, providing a platform for students to learn from each other and gain valuable insights.

Thomas is also keen on extending financial literacy resources beyond the Oxford St. campus.

“I want to have at least a few events for the other campuses as well, not only for the main campus so that there is financial literacy and learning for students,” Thomas said. His vision includes collaborating with banks and guest speakers to provide practical insights into financial management.

Reflecting on his journey, Thomas shared valuable insights from his own experiences with budgeting and investing.

“Initially, before coming to Canada, I invested much of my money in stocks, crypto, and all the other investment plans. I was able to have good interest from that, which helped me plan for my tuition fee in Canada,” Thomas said.

His experiences with investments in stocks and cryptocurrencies during the COVID-19 pandemic have also shaped his understanding of finance.

“I did a lot of research and studies. I entered a few courses online, which taught me financial literacy on Internet investments.”

Thomas emphasized the wealth of resources available to students, including online courses and government tools.

“There are free courses we can take online. There are a lot of LinkedIn courses that can help you understand budgeting, finance, and all the financial aspects,” Thomas noted.

As the Finance Coordinator, Thomas suggested various resources available on the FSU website and those provided by the Canadian government. These resources aim to create a supportive and inclusive environment where students can feel confident and control their financial future.

“We have a lot of good resources on the Canadian government website. If you go over there, you will find they have their own budgeting and resource tool,” Thomas said, encouraging students to explore these tools. Thomas also claimed the importance of traditional Excel spreadsheets and modern budgeting and financial planning apps.

Thomas encouraged students to follow two essential pieces of advice.

“I’ve always been into budgeting and planning everything, so budgeting is one tip, as well as learning about the financial aspect.”

Thomas’ dedication to financial literacy is not just about numbers, it’s about empowering students to build a secure and prosperous future.