November is Financial Literacy Month (FLM) in Canada. During the month, organizations across the country hold activities to help Canadians of all ages improve their knowledge, skills and confidence in making financial decisions that are right for them.
The Financial Consumer Agency of Canada (FCAC) developed this guide for organizations that want to get involved in promoting FLM 2016. Feel free to use the content as it is presented or to adapt it to your needs.
The Canadian Financial Literacy Database includes financial education events taking place across the country in November. If your organization is planning an activity for FLM, we invite you to submit information so that your event is included in the database. FCAC promotes the database as a source of information for Canadians on our website, in our communications during speeches and when meeting with organizations.
Hashtags and key links
FCAC uses Twitter and Facebook to promote Financial Literacy Month on social media. We invite you to follow FCAC’s accounts on these platforms and to share the content you feel relevant.
FLM 2016 theme
Under the overarching theme “Managing money and debt wisely: It pays to know!”, FLM 2016 aims to promote and create awareness of the importance that Canadians learn to budget, live within their means, build a savings plan, and know their rights and responsibilities as consumers of financial products and services.
Use this content to promote FLM before November or anytime during the month.
- Financial Literacy Month is coming up! All November, activities are taking place across the country to help Canadians better manage their money and debt. Check out what events are planned in your region at http://ow.ly/cRPG304aSAG #FLM2016
- There are hundreds of Canadian resources to help you make financial decisions. Find the tools you need to better manage your money and debt here: http://ow.ly/DYA5F #FLM2016
- Financial literacy is about the knowledge, skills and confidence that you need to make financial decisions that are right for your needs. It is never too early or too late to increase your financial understanding, no matter your age or financial situation. Learn more during Financial Literacy Month at Canada.ca/Financial-Literacy-Month. #FLM2016
Week 1 (Nov 1-6): Start with a budget
- Tracking expenses and budgeting is essential for living within your means and feeling in control of your financial life.
- Having a budget and sticking to it can help you manage debt, save money and plan for the future.
- Worries about personal finances are at the top of the list when Canadians talk about their sources of stress. By clearly showing you where your money goes, a budget is a simple but powerful tool that can help you feel in control and protect you from unexpected financial surprises. http://ow.ly/PN5k303KSe3 #FLM2016
- How often do you stay within your budget? Take this quiz to find out how well you are doing at keeping track of your finances: http://ow.ly/tGtP304aT8O #FLM2016
Week 2 (Nov 7-13): Live within your means
- Small changes in your spending habits can have a big impact in your overall financial situation.
- Spending less than you earn makes you resilient to economic and financial downturns. A heavy debt load makes you more vulnerable if your financial situation changes or if you need to pay for unexpected expenses.
- If you take on debt, make sure you have a plan to pay it back.
- Living within your means is a reachable goal. Once you know what you spend and where you spend your money, you can begin to take action to control your expenses. You will see that small changes in your spending habits can have a big impact in your overall financial situation. Here are a few tips to easily cut some expenses: http://ow.ly/tnMO303LK04 #FLM2016
- When choosing to either rent or purchase a home, compare your income with your current or planned expenses and see what kind of mortgage or rent payments, you can comfortably fit into your budget. This includes associated expenses such as property taxes, insurances, utilities, maintenance, etc. http://ow.ly/3Zbb303LjBY #FLM2016
Week 3 (Nov 14-20): Know your rights and responsibilities
- The more you know and understand about your financial rights and responsibilities, the easier it is to avoid costly surprises and to reach your financial goals.
- We all have a responsibility to inform ourselves of rates, terms, and penalties associated with financial services and products.
- Financial institutions have an obligation to give consumers clear information and protection.
- When interest rates change, it may be tempting to break your existing mortgage and renegotiate a new one at a lower interest rate. Before you do that, read your mortgage contract and make sure you know all of the penalties and fees involved in breaking your current mortgage. http://ow.ly/QznU303NlYy #FLM2016
- When you withdraw money with your credit card, you are charged interest starting that day. You don’t benefit from an interest-free period on these transactions. That means that even if you pay your credit card balance in full, on time, you may be charged close to a month’s interest on your cash advance. Your credit card agreement discloses how credit card interest is calculated. Get to know it to avoid costly surprises. http://ow.ly/Q0W4303Nl9S #FLM2016
- When budgeting for a car, think beyond the monthly payments and look at the full cost over the term of the loan. For tips to help you make informed decisions about car financing visit http://ow.ly/Fq6O303Nn6r #FLM2016
Week 4 (Nov 21-27): Have a savings plan
- An emergency fund can protect you and your family in case of a financial emergency. It helps you deal with unexpected situations without having to borrow money.
- Paying for post-secondary education and avoiding a heavy debt load is a big challenge. But there are a variety ways to save money while you are in school to cover the costs: living at home, getting grants, bursaries, and taking advantage of tax deductions and tax credits for students.
- Start saving early to make sure you have the retirement lifestyle you want. The sooner you start to save, the sooner you will be earning interest, and the more your money will grow.
- Prevent the #debt trap: create an #emergency fund for unexpected #expenses. http://ow.ly/Ylmu303GU2R #FLM2016
- An #emergency fund helps you deal with unplanned purchases without having to borrow money. http://ow.ly/Ylmu303GU2R #FLM2016
- Don’t seem to be able to save for the things you really want? Keep these tips in mind: http://ow.ly/nwVE303GQRO #FLM2016
- Pay yourself first. Set up an automatic transfer every paycheque to a #savings account. http://ow.ly/TOADe #FLM2016
- Starting early to put money aside makes a big difference in your total #savings over time. http://ow.ly/kK3X303GZgB #FLM2016
- Coming up with the money to pay for school is a big challenge. Help for #parents and #students: http://ow.ly/TOo27 #FLM2016
- Looking for #retirement planning tools? Browse the database to find the resources you need. http://ow.ly/q0Ml303Nhow
- The earlier you start saving for #retirement, the easier it will be to reach your financial goals. http://ow.ly/tpOk304b6oK #FLM2016
- Questions to ask and tips on how to choose a financial professional. http://ow.ly/NQFq303JfIt #FLM2016
- Canadians are living longer. As our life expectancies continue to increase, our retirement savings will be stretched further. To help yourself prepare for a comfortable and sustainable retirement, you will need to start planning and saving early. Get started with this overview: http://ow.ly/oKbA304aTrX #FLM2016
- Obtaining financial advice is an important part of making good financial decisions. It is important stay informed and make decisions about finances that are right for you, as well as asking for help if needed. http://ow.ly/NQFq303JfIt #FLM2016
Week 5 (28-30): Review your finances
- You need to tweak your budget as life changes and adapt it to your current situation.
- Financial literacy is about lifelong learning and is important all year-long.
- Make your #budget a lifelong companion to help you navigate the financial ups and downs of life. http://ow.ly/zRQK303NzHA #FLM2016
- Life changes, so should your #budget http://ow.ly/zRQK303NzHA #FLM2016
- It’s never too late or too early to improve your money skills. Financial literacy is a life-long journey. #FLM2016
- Financial literacy can be a powerful and positive force in your life and in the lives of your loved ones. #FLM2016
- A budget is only useful if it is relevant and in tune with your needs and goals. Update it on a regular basis and when your life changes to make sure it reflects your current financial obligations, savings goals and sources of income. http://ow.ly/zRQK303NzHA #FLM2016
- Even though #FLM2016 is over, financial literacy is important all year long. Explore the Canadian Financial Literacy Database for financial literacy resources and events in your community throughout the year. http://ow.ly/DYA5F #FLM2016
To ask a question about FLM or to get added to our stakeholder mailing list to receive regular updates about FLM, send us your contact information by FLM-MLF@fcac-acfc.gc.ca.