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Non-profit aims to improve Canadians’ financial literacy amidst soaring inflation

November marks Financial Literacy Month (FLM), and this year’s theme focuses on helping Canadians manage their debt. As interest rates continue to rise, Canadians are finding their mortgage and debt payments higher than before. At the same time, inflation is at a 30-year high, causing an increase to the cost of goods and services. It’s a perfect storm that could spell disaster for those with limited financial literacy skills.

ABC Life Literacy Canada, a national non-profit literacy organization, is helping those with low literacy improve their financial skills to better manage the current economic situation. Its Money Matters program is a free introductory financial literacy program for adult learners, developed with support of founding sponsor TD Bank Group through the TD Ready Commitment, the Bank’s corporate citizenship platform. Money Matters offers a number of free resources in the form of workbooks, one-pagers and videos to those wanting to improve their financial literacy.

Many of its resources focus on debt, including:

In addition to downloadable resources and videos, there are several online courses that individuals can complete in their own time for free through the ABC Skills Hub.

“The current economic climate is worrisome for many, so we encourage Canadians to take advantage of our free financial literacy resources so that they can better understand how to manage their money,” says Alison Howard, Executive Director of ABC Life Literacy Canada. “Educating yourself on basic financial principles gives you the confidence to make informed decisions about your money, ultimately leading to better results with day-to-day money and debt management.”

Money Matters is also available to organizations who are interested in providing financial literacy training or workbooks to their learners or clients. Workbooks are used in classrooms across Canada and are full of activities that can be adapted according to the needs of individual groups, such as Indigenous populations and people with diverse abilities. Workshops can be delivered by the staff of the group delivering the program, or with the optional support of local TD Bank Group volunteer-tutors. Since 2011, the program has reached over 80,000 adults.

“Continuing to support Canadians with access to tools and programs that build financial knowledge, like Money Matters, is so important as we continue to navigate the ongoing impacts of the pandemic,” says Uma Venkataramaiah, Senior Manager – Philanthropy Canada, TD Bank Group. “We’re so happy to continue working with ABC Life Literacy to offer financially focused programming that reflects the diversity of Canadians from coast to coast to coast and helps people build financial literacy skills.”

For more information about the Money Matters program, to book a workshop, or to access free financial literacy resources, visit abcmoneymatters.ca.