Financial Literacy Month
Theme for 2024 – “Money on your Mind. Talk about it!
Financial Literacy Month (FLM) occurs every November to promote the importance of financial literacy and to help people in Canada develop the knowledge, skills, and confidence to make informed financial decisions.
Considerations of Financial Literacy Month include:
- Encouraging people to create and stick to a budget.
- Understanding and managing debt.
- Learning how to save for future needs, such as education or retirement.
- Promoting fraud prevention and financial consumer protection.
Everyone has a relationship with money, which is shaped during adolescence by the people who raised us. This mindset can be emotional or logical, but with today’s high cost of living, it’s important to ask: is your attitude toward money still working for you?
Financial health and mental health – the links When financial stress replaces security, it disrupts the future we envision. A poll from Mental Health Research Canada found that financial stress has a significant effect on mental health. Of the 3,819 adults surveyed, 39 per cent said economic issues were affecting their mental health, and 41 per cent of those facing financial difficulties had thoughts of suicide.
Financial Literacy Month is not just about learning – it’s also about empowerment. It’s about giving people the tools to make sound financial choices, ultimately contributing to their overall economic and emotional well-being.