Financial Literacy Month

Financial Literacy Month

Each November Canadians celebrate Financial Literacy Month. Discover new ways to become more savvy with your money!

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Take control of your financial future
Here’s how you can improve your own financial literacy:

  1. Increase your knowledge, increase your confidence. When you feel good about your own money management skills, you will feel more confident talking about money with your children. 
  2. Create a spending plan and share it with your kids. Write down all anticipated costs – and talk about the difference between needs and wants.
  3. Encourage your kids to journal about money. Have your children write down the cost of each and every purchase that they make. At the end of a week, use the journal to initiate a conversation about money and priorities.
  4. Start a tax-deferred RESP for your child’s post-secondary education right away. Explain to your child that money is being saved now for their future education. Studies show that children are more likely to attend university or college if they know that there is money earmarked for their education, regardless of amount.
  5. Get children to save at least 10 per cent of their allowance. Talk to your kids about the benefits of the “pay yourself first” approach.

 

Money Matters: making a difference in the community


ABC Life Literacy Canada also increases financial literacy through Money Matters, a free money management and education savings program for adult learners developed with support from TD Bank Group.  Bring Money Matters  to your community.

 

 


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