Did you know
Did you know that people with financial literacy skills manage money better and make sound financial decisions than those without these skills?
So how much do you
So how much do you understand basic financial concepts and how good are your practical money skills?
If you feel like you
If you feel like you need to improve in this crucial life aspect, we are here for you. This is the number one resource for financial literacy information, news and trends.
What is financial literacy?
Financial literacy is the understanding and knowledge of various financial aspects, including budgeting, personal financial management, saving, borrowing and investing.
Financial literacy forms a pillar from which short term and long term financial goals are achieved.
So, why is financial literacy so important?
Helps one deal with daily financial concerns better
In our day to day activities, we are required to transact with money and thus, we need financial confidence to handle money available to us wisely. This is only possible if you have the necessary skills required to do daily money and debt management.
Contributes to retirement well-being
If you don’t know the right amount of money to save or invest during your productive age, you may have financial problems when you retire. With financial literacy, you will always have a sound financial plan as well as some ideas on how you will continue to be financially stable and independent during retirement.
Stabilizes the economy
In most cases, many people view financial literacy as a personal element. However, you should know that individual financial literacy contributes significantly to a country’s economic stability. This is why the Canadian government puts a lot of effort into improving citizens’ financial literacy.
Helps one take the right path in a changing financial environment
Financial matters in Canada change very often and there are reasons for this. First, new participants enter the money market each and every day and the financial landscape has to adjust to accommodate them. Next, there are frequent technological inventions and advances changing how money is transacted in the country and even globally. In this regard, financial literacy helps you keep up with the dynamic nature of the financial environment in Canada.
CONCLUSION
Becoming financially literate is not straightforward, but with our online information resource, you can better your financial skills to improve your financial status and contribute to the country’s economic stability. We do our research well and update our site frequently to ensure that you have the latest and most relevant financial literacy information, Canada. Check our posts routinely and don’t let any 21st-century financial skill come and go unnoticed!
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