Tips for Financial Literacy Month

(NC) Every November is recognized as Financial Literacy Month in Canada. And given current economic factors, including inflation and interest rates, this year is more important than ever.  

According to World Financial Group Financial IQ Study, fifty-eight per cent of Canadian households cut back on day-to-day expenses last year due to concerns about their finances, and one-third had to dip into their savings to pay the bills.  

Simply put, financial literacy is possessing the knowledge and tools to make sound financial decisions. These include knowing how to create and stick to a budget, properly manage debt, plan for your eventual retirement and the importance of having an emergency fund. 

There are various free resources where you can learn more and enhance your literacy level, including blogs and podcasts. 

If you are struggling with paying for daily expenses, consulting with a licensed financial professional can help.  

Learn more and take the financial literacy test at worldfinancialgroup.com.  

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(NC) In November, we recognized Financial Literacy Month in Canada. However, given current economic factors, including high inflation and interest rates, it is important to be financially literate throughout the year.