26 Oct Financial literacy resources and lesson plans for adults
November marks Financial Literacy Month (FLM), an annual initiative that aims to improve the financial literacy skills of Canadians. With COVID benefits like modified EI, CERB and CRB having now ended, it’s become clear that Canadians will need to have the appropriate financial literacy skills in order to bounce back from any financial repercussions that the pandemic caused.
A recent survey indicated that individuals with lower incomes were more likely to say that their financial situation has worsened since the pandemic began, compared to higher-income households, who said their debt situation has actually improved. Younger Canadians are more likely to report both that it’s become more difficult to keep up with debt payments and that they’ve accumulated additional liabilities during the pandemic.
With November being Financial Literacy Month, now is the perfect time for adults to take control of their money and improve their financial know-how. ABC Life Literacy Canada is offering the following free financial literacy resources for Canadians that are looking to improve their money management skills.
- Smart Shopping workbook: This workbook looks at topics such as why people shop, ways to think about shopping habits, how comparison shopping can help save money, and ways to make smart buying decisions.
- Facing Challenges workbook: This workbook aimed at people with diverse abilities covers common challenges with money management, how to make a plan to solve challenges, and how to build confidence for future challenges.
- Getting help with debt: This one-page resource guides learners on where to seek debt help.
- Managing debt anxiety: This resource outlines steps you can take to help you feel better about your debt.
- Money safety on the phone: Learn about common phone scams and how to avoid them.
- Financial Literacy tip videos: Learn about common financial literacy terminology and calculations such as APR, phishing, credit history vs credit score, percents, and credit vs debit.
- Online Courses
- Spending Plans: This course is about spending plans. A spending plan is a plan for how you will spend your money so you can best meet your needs and goals. A spending plan also helps you find ways to put aside money for the future.
- Banking Basics: This course is about banks and banking. It’s about the choices you can make about where to keep your money. You’ll learn about different bank accounts and which type might be best for your money needs.
- Borrowing Money: This course is about credit, what it is, how to use it wisely, and how to get it under control when you have a lot of debt. You’ll look at different kinds of credit and the cost of borrowing. You’ll also learn about ways to plan ahead for when you need to borrow money.
- Ways to Save: This course is about how to save money and different types of savings accounts. You’ll learn about ways to help your money grow over time. You’ll learn about registered savings plans to help you get ready for your future.
These free resources are available through the Money Matters program, developed by ABC Life Literacy Canada with support from founding sponsor TD Bank Group through the TD Ready Commitment. Money Matters is a free introductory financial literacy program for adult learners that has been delivered to Canadians since 2011.
Learn more about the program at www.abcmoneymatters.ca.