Posts Tagged ‘Financial Literacy’

November is Financial Literacy Month

Financial Consumer Agency of Canada (“FCAC”), FLM is a coordinated effort “to strengthen the financial literacy of Canadians and empower them to manage money and debt wisely, save for the future and understand their financial rights and responsibilities”.

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The Cost of Keeping Up With the Jones

We often see families putting themselves in difficult financial situations because they make purchase decisions based on emotions rather than considering the total cost.  Sometimes, we have to take a step back and ask ourselves a few questions: what are these material things going to add to my overall quality of life?  How are we going to pay for these purchases and what is the overall cost?

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Dealing With Increasing Insolvency Rates

There are lots of factors but, I think the greatest single contributor is the proliferation of easy credit combined with low levels of financial literacy.  High debt levels limit financial flexibility and the ability to weather and recover from financial setbacks resulting from job loss, reduced income, illness, separation/divorce, and other life events.

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Financial Literacy – Understanding Collateral Mortgages

The mortgage process is changing and many banks have are now using collateral mortgages when you purchase or refinance your home.  A collateral mortgage typically designed to secure all obligations that you owe to the bank and there is no dollar limit on the mortgage.

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