EP109 Milli Moves: Take Charge of Your Finances – Financial Literacy Month 2019

When you are on a financial fitness journey, you will want to take control of your money and increase your earnings power. There are proven ways to do things to reach your financial goals, from budgeting to spending less than you earn. Putting your finances into order can be quite simple; you just need to know where to start and take that first step.

 

Today, in honor of Financial Literacy Month, I share tips on how to take charge of your finances. I discuss the theme of this year’s Financial Literacy Month and share essential tips on calculating your expenses, making a budget, and considering your financial goals and dreams. I highlight how to be a smart consumer and how to borrow money wisely while avoiding financial scams. I also share the first steps you need to make to take control of your debt. 

 

“While it may be a little bit of work, it is so important to know the numbers and ensure you are spending less than you make.” – Tracey Bissett

 

This Week on Young Money:

 

• What is Financial Literacy Month in Canada
• The “Take charge of your finances!” theme
• How to calculate if your income is larger than your bills and expenses
• Why it is vital to spend less than you make
• What to do if you are spending more than you make
• Budgeting for your financial goals and dreams
• How to be a smart consumer
• How to borrow money wisely
• Taking control of your debt problems

 

Financial Literacy Month – Take Charge of Your Finances:

 

• Week 1 (November 3 to 9) – Start with a budget
• Week 2 (November 10 to 16) – Set financial goals
• Week 3 (November 17 to 23) – Be a smart financial consumer
• Week 4 (November 24 to 30) – Borrow money wisely

 

Resources Mentioned:

 

• National Strategy for Financial Literacy – Count me in, Canada
• Credit Education Week Canada Nov 13 event – Register here
• Can I Afford it? Masterclass – register here
• Financial Consumer Agency of Canada
• EP023 – How to Protect Yourself from Fraud
• EP044 Dangers of Payday Loans
• EP049 5 Questions to Answer Before Getting a Credit Card
• EP051 Gift and Prepaid Cards – Consumer Beware
• EP056 Back to Basics – The 5Cs of Credit
• EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
• EP058 Invest in Your Financial Well-Being – Financial Literacy Month 2018
• EP081 Credit Canada Debt Solutions with Laurie Campbell

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Remember – there is no silly question when it comes to your financial fitness.

 

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