Happy Financial Literacy Month! This is one of the most important awareness campaigns of the year! I can picture you rolling your eyes at me. Financial literacy is important to all Canadians and most people know less than they should and even less than they think they do.
Most people’s relationship with money can be described as – managing your money or letting your money manage you. Saving and investing puts you in the drivers seat. That is how I see this year’s theme. You need knowledge and confidence to be in that drive’s seat.
A few stats about Canadian financial literacy really struck me:
31% of women consider them financially literate
43% of men consider themselves financially literate
65% of households contribute to an RRSP, RPP, or TFSA
36% of Canadian’s know that applying for a credit card can negatively impact credit
Canadian’s owe $1.68 for every dollar they earn
It sounds like we still need to improve to make sure all Canadian’s are financially literate. Over the next month I will continue to post articles about topics that will inform you and empower you to take control of your finances.
What do you want to learn during Financial Literacy Month?