In the US, April is the month when there is heightened awareness about personal finance issues. The goal is to make people more aware of healthy financial habits and create a financially healthier population. Last year at this time, I shared a barrage of links on the topic of financial literacy.
Here in Canada we can also use more financial literacy so this year, I thought I would share some more links to some of my personal all time favourite articles to help with financial literacy. I hope you enjoy:
Improving your financial health
There are a lot of parallels between the health industry and the personal financial industry. Not only are some of these links fun and interesting but they can really help us to grasp key issues of financial health that much better.
7 causes of financial stress
It’s been said that financial stress has become somewhat of an epidemic. Money is one of the top three causes of stress in people’s lives and we need to do something about it. Curing financial stress is no easy task but recognizing the root of what can cause this stress can be the first steps in dealing with it.
Take Control of your money
One of the best ways to deal with financial stress is to attack it straight on by taking control of your money. It’s all about developing good financial habits (as opposed to the bad ones). We need to remember some core philosophies about wealth and money. It’s all about not only taking control of your money but also taking the necessary actions to improvement.
Four disciplines to financial success
If you wanted to become financially independent, what would you have to do? What are the important disciplines to help you get ahead financially? There are lots of theories out there; some are wacky, wild and crazy. For me, it’s more about common sense than anything else. Here’s my four key disciplines to financial success.
Principles of saving money
Are you a spender or a saver? Saving money is the foundation for financial success. It is the root of what separates the rich from the poor. For most people saving money is not easy. Clearly, it is much more natural to spend money than save it. Since saving is not natural, it is something we must learn to do and work at. Here are some key principles to help you save more money.
Three simple tips to help you save more money
Saving money is one of those things that sounds so simple to do but yet one of the hardest things to do because it requires discipline, effort and awareness. Here are three perspectives to help you on the path to save more money.
Making sense of financial compromise
Another big problem today is the this common sense of entitlement that seems to be out there. Too many people think money grows inside lines of credits and credit cards. Debt has made it too easy to live beyond our means. We’ve forgot these three different forms of financial compromise.
Financial Stress is affecting the workplace
Financial education and literacy have become hot topics for the simple reason that many Canadians are not well equipped with the financial knowledge to make good decisions about money. One of the biggest problems we face is there is very little formal financial education happening anywhere in Canada. It’s not taught in schools and little bits a pieces that is being done in the workplace is inadequate and self serving to the financial industry. Unfortunately financial stress is affecting the workplace.
It’s time to get rid of debt
Today we live in a world where debt is so accessible. Whether it is mortgages, lines of credit, car loans, or credit cards, Canadians now have almost $800 billion dollars of debt, which is up almost 50% from 1999 when the last Pension and Wealth Research Study was done by Statistics Canada. Every financial institution is eager to issue a loan or a credit card because it is a profitable business. Debt is everywhere and the statistics are getting scary, it’s time to get rid of debt.
Paying off debts can be one of the best investments you make
Debts can be more expensive than you think and as a result paying off debts can give you a guaranteed return. Learn a few different ways to turn make debt less costly.
What is Financial Literacy?
Last year, I wrote a 4 part series on Financial Literacy in Canada in response to a paper released by the Task Force on Financial Literacy seeking input on developing a national strategy for change to create more awareness and improve financial literacy in Canada.