November is Financial Literacy Month

Mother teaching her son about money

November is Financial Literacy Month, which is an opportunity for all Canadians to take control of their financial futures and learn more about managing their finances. Financial Literacy is an important topic to Cambrian, because we want all of our members to have the knowledge and skills they need to make the best financial decisions possible for themselves and their families.

What is Financial Literacy?

Financial literacy is the understanding of topics such as debt, spending, and credit, which is necessary to make day-to-day decisions involving money. A solid understanding of finances will help you when you apply for a loan or mortgage, get a credit card, and save for your future.

Resources

Cambrian’s Financial Literacy Blog offers informative articles on a variety of financial topics, including mortgages, borrowing, investing, saving, and day-to-day banking. Looking for information on a specific topic? Click the “Categories” button and choose the topic of your choice for a list of articles that will be relevant to you.

Cambrian is always posting new content, so check out our blog regularly for information on a variety of financial literacy topics, or follow us on Facebook or Twitter for links to our latest posts.

What can I Do?

The theme for Financial Literacy Month 2019 is “Take charge of your finances!”. In keeping with this theme, there are several things you can do this month:

  • Look at your finances and create a budget.
  • Set some financial goals for yourself. These can be short term (increase your monthly savings contribution), medium term (get debt free) or long term (save for a home).
  • Once you’ve made your goals, determine an action plan. For example, are you looking to save for a home? Consider setting up a pre-authorized contribution to your savings account.
  • Learn more about finances, so you can make informed decisions about how to manage your money.