Financial Literacy Month – 10th anniversary

From: Financial Consumer Agency of Canada

Tips and tools to understand your finances

This year, Financial Literacy Month aims to help Canadians learn how to manage their finances in challenging times.

Tools and resources


10 Things you should know during times of financial uncertainty. Text version follows.
Text version: 10 Things you should know during times of financial uncertainty
  1. Keep track of your money
  2. Commit to a spending plan
    Did you know? Making a budget will help you stick to a plan and stay on top of your finances.
  3. Minimize your debt
    Borrow only what you need
  4. Protect yourself from financial fraud
    Did you know? 1 in 5 Canadians say they were a victim of a financial fraud or scam in the last 2 years.1
  5. Build good financial habits
    Did you know? FCAC’s Budget Planner is a free, interactive tool that allows you to create a personalized budget that you can save and update online.
  6. Understand your financial products and services
    Did you know? If you are having trouble paying your bills, your financial institution may be able to offer you some relief options, such as mortgage deferrals.
  7. If you can, set aside some money for unexpected expenses
    Did you know? Setting up an emergency fund will help keep you from having to take on debt in the future if something unexpected happens.
  8. Order your credit report
    Did you know? You can order a copy of your credit report for free from Equifax Canada and TransUnion Canada.
  9. Have a plan to repay your debt
    Did you know? FCAC has a step-by-step guide to repaying debt and free tools, such as the Financial Goal Calculator.
  10. Reassess your financial goals
    Did you know? Budgeting helps you understand what goals might need to be postponed or changed.

1FCAC (2019) “Canadians and their Money: Key Findings from the 2019 Canadian Financial Capability Survey”.

canada.ca/financial-literacy-month

Learn something new about your finances

Transcript

We open on Elise and Floyd organizing some papers on their desk.

ELISE VO: This past year has been full of surprises. We learned things that we didn’t even know we were capable of!

We see Elise and Floyd browsing the FCAC website on their laptop and phone. They scroll and windows pop up behind them.

ELISE VO: Like how to be better at managing our money with the help of the Financial Consumer Agency of Canada’s free tools and resources.

Camera zooms out to show the windows/app and Floyd/Elise interacting and scrolling. Floyd clicks and a new window pops up showing different diagrams. With another click, windows minimize and camera pans down back to Floyd and Elise. Floyd puts his laptop away.

ELISE VO: That’s not all we learned though. My husband picked up knitting as a hobby.

Floyd grabs his knitting needles.

ELISE VO (deadpan): We have never been closer.

Zoom out to show family on couch in one sweater.

SUPER: Learn how to make informed financial decisions at Canada.ca/financial-tools


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