piggybankkids

Raising Awareness of Financial Literacy Month

The importance of having a solid financial education

“Give a person a fish and you feed them for a day. Teach a person to fish and you feed them for a lifetime.” This popular saying originated as a quote in an 1885 novel and while the syntax may have evolved somewhat (to suit changes in language and culture), the core message is as true today as it was 130 years ago: learning how to do something on your own is much more effective than having someone do it for you.

At Heritage, we recognize the value in this message and that’s why we’re huge fans of Financial Literacy Month; it’s a time of year dedicated to helping the average Canadian family (both parents and children) acquire, improve and/or refresh important money skills, such as investing, saving and planning. Apart from being a huge confidence booster, developing and honing these skills goes a long way towards ensuring Canadians are prepared for whatever lies ahead of them in today’s roller-coaster economy.

To that end, here are a few great resources families can use to improve their financial literacy and know-how:

Financial Consumer Agency of Canada

This site, run by the Government of Canada, should be the jumping-off point for anyone remotely interested in becoming more financially literate. Informative and accessible, it provides a convenient hub from which one can branch out into many different areas of the financial spectrum. They also provide a calendar of events and free promotional materials.

Canadian Financial Literacy Database

Another government-run site (you can actually get here from the FCAC page), this comprehensive database includes information on any financial subject you can think of. Standouts here include a fantastic multimedia section with video tips from industry experts, as well as an online self-assessment quiz, so you can see how your skills measure up.

FrogSkinU

It’s just as important for children to improve their financial literacy as adults, arguably more so. This site explains the essentials of everyday finance on their terms: through fun, engaging activities and workshops. Children today are growing up tech savvy and immersed in a “click-to-buy” culture, thus many activities on the site are geared towards explaining the hidden cost behind their computer or smartphone screens; valuable lessons we’re sure any mom or dad on a budget will appreciate!

At Heritage Education Funds, we pride ourselves on putting families first and this extends beyond doing our utmost to help save for a child’s education. It also means we’re 100% invested in helping families increase their knowledge of money, so they can eventually be informed and assertive in all financial situations. The more educated the average Canadian is about their finances, the better off we’ll all be.