In Canada, November is recognized as Financial Literacy Month. Here’s what you can do to take control of your finances, whether that’s finding the right credit card, consolidating your debt, or figuring out your budget.
You’ve wanted to improve your financial literacy for a while. Right now, you have the perfect opportunity - November is Financial Literacy Month in Canada!
We’ve decided to kick off Financial Literacy Month with a challenge: What’s one thing you can do to improve your finances?
We’re talking about actions you can take today to make a difference. Choose from any of the ideas below and commit to making a change.
Let’s get started!
Is your current credit card the best fit for you, or could you be earning better rewards1 with a card more customized for you?
You can use our Credit Card Picker to find a card that suits your needs. Whether that’s a lower interest rate2, travel rewards*, or cash back rewards*, we’ve got a card for you.
Are you on track to save money? The only way to find out is by checking the numbers.
You can do that by regularly reviewing your credit card and bank account statements.
Find out how much money is flowing in and out of your accounts each month, so you can budget with confidence.
As a Cambrian Member, here’s how to find your statements through Online Banking and the Mobile App.
Find a few costs you can cut right off the bat. Things like:
A recent Statistics Canada survey revealed that 1/3 of Canadians don’t have an emergency fund sufficient to cover 3 months of expenses.
Why is an emergency fund so important? It helps you cover the costs you don’t see coming, so that you don’t have to rely on credit.
Credit products are helpful in a pinch, but you’ll end up paying interest on the funds you borrow. An emergency fund helps you cover costs in full so that you don’t have to pay interest.
You can also set up a sinking fund, which is like an emergency fund, but for planned expenses. It’s a savings account you contribute to over time, so that when the expense comes up, you have the funds to cover it.
You don’t need to navigate your finances alone. An advisor can help you:
We’re here to help. Book a meeting today!
What’s something in finance you wish you knew more about?
From managing debt to the costs of owning a home, chances are it’s something we’ve covered in our content!
Follow our Financial Literacy Blog and social media accounts (including Instagram, Facebook, and LinkedIn) to keep building your financial literacy knowledge.
We’re always sharing new content to help our members manage their finances with confidence. Be sure to check back often for new posts!
Disclaimers
Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.
*Terms & conditions apply. Visit reward-headquarters.com/groupCollabriaNational/home for more details.
1 Reward points are earned on net purchases only. Any Cash-like Transactions including Cash Advances, Balance Transfers, and interest charges, fees, payments, credit or debit adjustments and any amount other than Purchases that may be charged to your Account with your Card or Convenience Cheques, do not qualify for Points. For more information visit collabriacreditcards.ca/rewards.
2 The interest rates are in effect from the date the credit card is approved. For more information, please reference your cardholder agreement or visit online www.collabriacreditcards.ca/cardholder-agreement.
We would be happy to discuss your unique situation with you.
Our goal is to make complex topics like this one, simple.
It takes less than 5 minutes to make an appointment or to apply online. It is up to you how you want to meet your advisor - you will have the option to meet your advisor:
