What is financial literacy? It refers to the financial knowledge and skills that enable you to make informed financial decisions. Such decisions include savings, expenses, budget management, choosing financial products and planning for retirement.1
Good financial management is everyone’s business. Financial literacy is for everyone. In fact, it’s one of the reasons why the Financial Consumer Agency of Canada (FCAC) exists. This agency ensures federally regulated financial institutions comply with consumer protection measures, promotes financial education and promotes consumer rights and responsibilities.1 The FCAC involves and coordinates the efforts of private, public and non-profit sector stakeholders.
To promote its mission, the Agency has been organizing a Financial Literacy Month since 2011. It held its ninth edition last November, with the theme “Take charge of your finances!” You’re sure to find useful information in its sub-themes, like making a budget, setting financial goals, becoming an informed financial consumer and borrowing money wisely. Be sure to check out this great resource.
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