Posts Tagged ‘Financial Literacy’
Week 4: Teaching Children About Money Can Mean Better Financial Literacy for the Whole Family
Life presents lots of opportunities to hone your own financial literacy skills and to help your children develop theirs. Deciding that you will share as much as possible with your kids can help you to be disciplined in making decisions and dealing with the impacts on you before you share with them, and that can be a good thing for the whole family.
Read MoreWeek 1: How Being Comfortable Means Security and Options
There are a number of factors that play into achieving financial well-being. Some are within our control, and unfortunately, some are not. Like most things in life, we should focus our attention on the things that are in our control.
Read MoreNovember 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”.
Read MoreThe 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?
Read MoreDealing 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.
Read MoreStruggling With Debt Tackle Your Finances Head On
Hiding from the reality of your financial situation will do nothing to improve it. People have a pre-disposition to hide from the truth, particularly when the truth is ugly. Unfortunately, we see this every day.
Read MoreFinancial 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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