At least for the vast majority, it is not the "knowing" part that is the problem; it is the "doing" part, IMO. Having said that there is no downside to teaching personal finance in schools and it is worth trying.
An interesting topic for me...
1. Teachers are bound by a legal document in what they teach (ie the curriculum). As provinces cram more and more into what they need to teach students, and how, teachers have less and less time to explore some of these other issues (such as money in a more contextual sense) in anything but a superficial or simplified manner. If we are to advocate for change, we need to lobby provincial MLA's for changes/additions to the curriculum.
2. There are some course "options" that deal with money, and some schools allow for more flexibility around option course development. However, many teachers are not comfortable enough with the intricacies with money management to both develop and teach a course on their own, or even to integrate it with their subject matter. Again, support is needed from the province to either fund teacher professional development (as needed) or to have some of the provincial curriculum developers focus more on curricular development for teachers to use as a guideline.
3. Working with junior high students with a variety of socio-economic backgrounds, it is surprising to see the lack of understanding of basic finances from almost all students that I have worked with. I would argue that students need the "knowing" part as well, but that really "knowing" comes from "doing". Like most of us know, experience and wisdom account for a lot.
4. Teachers are offering students more and more choice and flexibility in projects these days. If your child is interested in finances, have them bring it up with their teacher and develop some kind of project together, most likely to be integrated with something they are currently doing in school (if they are working on various types of graphing, have them track and graph some stocks; if they are working on early settlement of the land, have them work on bartering and trade issues of the time, or some companies that have been around for over 100 years and how they have evolved/managed to stay afloat).
I think that teachers, as well as most adults and people, really have very limited knowledge of finances--and for many that's ok, with the other stuff they have going on in their lives. To offer some kind of financial foundation in school for all students would be fantastic, and I agree should be there. If you REALLY believe in it strongly, contact your MLA, or slip it in with discussions with your child's teacher.
fifi