[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/rkillen.ca\/financial-literacy-month-can-help-you-take-charge-of-your-finances\/#BlogPosting","mainEntityOfPage":"https:\/\/rkillen.ca\/financial-literacy-month-can-help-you-take-charge-of-your-finances\/","headline":"Financial Literacy Month: Taking Charge of Your Finances","name":"Financial Literacy Month: Taking Charge of Your Finances","description":"Canadians celebrate Financial Literacy Month every November. Created and launched in June 2015 by the Financial Consumer Agency of Canada (FCAC), this initiative sets out three basic goals to help Canadians understand their rights and responsibilities to be able to: Manage their money and debt wisely, Plan and save for their future, and Prevent and […]","datePublished":"2019-11-22","dateModified":"2023-04-12","author":{"@type":"Person","@id":"https:\/\/rkillen.ca\/author\/adrian\/#Person","name":"Adrian","url":"https:\/\/rkillen.ca\/author\/adrian\/","identifier":11,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/83c9d81e4aa2dc5936e06b9059fd4e195f1f91bcd60ccfc5e28f98dd86bae8b8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/83c9d81e4aa2dc5936e06b9059fd4e195f1f91bcd60ccfc5e28f98dd86bae8b8?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Richard Killen and Associates","logo":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2019\/11\/financial-literacy-month.jpg","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2019\/11\/financial-literacy-month.jpg","height":501,"width":756},"url":"https:\/\/rkillen.ca\/financial-literacy-month-can-help-you-take-charge-of-your-finances\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM","name":"Why Richard Killen & Associates For Debt Relief In The GTA?","description":"http:\/\/www.rkillen.ca  Toronto bankruptcy trustee Richard Killen explains why you should consider using his company to help you get out of debt: \n\nPeople sometimes ask me, \u201cWhy Richard Killen and Associates?\u201d why come to us. It\u2019s very difficult to answer that question without thinking that you are bragging, but I\u2019ll try.  The main thing we do as a trustee, probably the most important thing, we empower people to be able to take charge of their situation. It\u2019s very difficult. People come to see us and they don\u2019t feel very good about their situation.  Most people feel very helpless and helplessness leads to hopelessness.  So I think what they are looking for, maybe the most important thing we can do for them, is put the power back in their hands to resolve their problem.  Whether it\u2019s a bankruptcy or a proposal or any of the other options available to them, at least they can do something about it, and I think people really appreciate that.  \n\nIf you are uneasy about bankruptcy you should definitely visit a licensed insolvency trustee so that you will be given an advice about your bankruptcy problems.\n\nWe can meet with you during business hours or book after hours appointments if that is more convenient.\n\nContact us for a fresh start 1 (888) 545-5365\nLive your life free of financial stress!\n\nFollow us on Instagram: https:\/\/www.instagram.com\/killen_trustee\/\nFollow us on Twitter: https:\/\/twitter.com\/Killen_Trustee\nFollow us on Facebook: https:\/\/www.facebook.com\/rkillenassociates\nFollow us on Linkedin: https:\/\/www.linkedin.com\/company\/richard-killen-&-associates\/\nConnect on Linkedin: https:\/\/www.linkedin.com\/in\/richard-killen-020aaaba\/\n\nRichard Killen and Associates have 10 locations across the Greater Toronto Area.\n\nOur main office is at\n\nRichard Killen & Associates\n2130 Lawrence Ave\nEast Suite 402, M1R 3A6\nTel: (416) 285-9511\nhttp:\/\/rkillen.ca","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/mIOPRAC4HcM\/default.jpg","https:\/\/i.ytimg.com\/vi\/mIOPRAC4HcM\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/mIOPRAC4HcM\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/mIOPRAC4HcM\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/mIOPRAC4HcM\/maxresdefault.jpg"],"uploadDate":"2015-08-03T16:57:13+00:00","duration":"PT1M1S","embedUrl":"https:\/\/www.youtube.com\/embed\/mIOPRAC4HcM","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw#Organization","url":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw","name":"Richard Killen & Associates Ltd","description":"Since 1992 we at Richard Killen & Associates have helped thousands of people resolve their financial problems. With over 22 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.\n\nThe strength of our company is exemplified by the manner in which we treat our customers. We understand the intense pressure people are under. You will feel better after having spoken with our staff and your sense of dignity will be restored. The relief most people feel is tangible.","logo":{"url":"https:\/\/yt3.ggpht.com\/ytc\/AIdro_nK1yzM56nIFCGmWO7scxw1pLTW2Z8LVLH_kg8kdbbfw5M=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=mIOPRAC4HcM#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":252}]]},"about":["Budgeting","Finances","Financial Advice"],"wordCount":938,"articleBody":"Canadians celebrate Financial Literacy Month every November. Created and launched in June 2015 by the Financial Consumer Agency of Canada (FCAC), this initiative sets out three basic goals to help Canadians understand their rights and responsibilities to be able to:Manage their money and debt wisely,Plan and save for their future, andPrevent and protect themselves against fraud and financial abuse.Financial Literacy Week CanadaThe overall theme for this year is \u201cTake charge of your finances: It pays to know!\u201d There are weekly sub-themes throughout the month to bring specific focus on basic money management practices that are critical to helping Canadians understand how to manage their money the right way. These weekly sub-topics will include:Week 1 (November 3 to 9) – Start with a budgetWeek 2 (November 10 to 16) – Set financial goalsWeek 3 (November 17 to 23) – Be a smart financial consumerWeek 4 (November 24 to 30) – Borrow money wiselyDuring the month-long celebration, organizations from the private, public and non-profit sectors across the country share information and resources, in the form of hosting workshops, seminars and other events to promote financial literacy for Canadians of all ages and to help them think more about their financial well-being and how they can improve it.We at Richard Killen are joining financial organizations all across Canada to help you become smarter about your money.Why Do We Need to Be Financially Literate?These statistics based on a survey conducted by Lowestrates.ca and Ipsos Canada, the country’s leading provider of public opinion research,\u00a0 will help you understand why:50% of Canadians have no budget to define their short-term and long-term financial goals.32% of Canadians don\u2019t expect to have enough money to retire comfortably.Only 36% of Canadians understand how applying for a credit card can negatively affect credit score.60% of millennials don’t have enough money to cover an emergency expense.85% of Canadians agree that financial literacy in Canada is lacking.87% agree that the lack of knowledge is contributing to Canada\u2019s consumer debt problem.85% wish they personally had the opportunity to learn more about finance and the economy while in school.94% agree that Canada\u2019s schools need to do a better job of teaching financial literacy skills to children.Only 16% of Canadians feel that they have strong personal financial literacy skills.39% feel that they have poor financial literacy skills.Only 35% agree that Canadians overall have strong financial literacy skills.Money touches all areas of our life, so it\u2019s extremely important to be financially literate for our own financial well-being in life. If you know this knowledge and skills early on in life you will be able to develop good money-management behaviours in the long term. This will enable you to make wise financial decisions and actions all throughout life, and most importantly, if you do make poor decisions you will know how to fix them and take steps to plan better for the future.Basic Financial Literacy SkillsBecoming financially literate doesn\u2019t happen overnight. You learn gradually starting with the basics and build fluency over time.Perhaps the most basic financial skill to start learning is knowing how to budget. Budgeting is the best way to see how money comes in and out of your life. It will require you to go over your income and expenses and analyze your spending habits, and likely make changes where you need to. It may sound too restrictive, but it will help you take control of your money, instead of your money controlling you. And when you have better control of your money, you are able to make sound financial decisions.Why Richard Killen & Associates For Debt Relief In The GTA?Watch this video on YouTubeIdeally, this is\u00a0 what you want a basic budget plan to have:A breakdown of all your needs all of your expenses over the course of a month so you can account for each of them.Track every penny you spend weekly or twice a week, depending on how often you deem necessary, and compare your actual spending to the budgeted amount.Evaluate ways for lowering your monthly bills as your expenses can\u2019t be more than your income.Identify some income left over at the end of each month to build emergency savings or put toward other financial goals.The only way for budgeting to be effective is for you to be realistic and put together a plan that you can actually follow. The more time and effort you put into developing your household budget, the better understanding you will have of how you\u2019re spending your money and, as a result, the better you will be able to identify where your financial holes are. The sooner you can see the gap between what you can afford to spend and what you actually spend, the closer you can get to stop living paycheck to paycheck.Knowing how to manage money effectively is a valuable life skill to have and financial literacy equips us with the knowledge and skills we need. We can learn to be financially literate, and it\u2019s never too late to start learning.If you\u2019re interested to know about your own financial literacy, take this Self-Assessment Quiz to help you find out.We encourage you to also come and talk to us to get a free checkup of your overall debt and financial health. As Licensed Insolvency Trustees, we are government regulated debt professionals and can help you to improve your overall financial literacy and learn new ways to become savvier with your money. Soon, you will take charge of your financial freedom with a debt-free life. Celebrate Financial Literacy Month with us!"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Financial Literacy Month: Taking Charge of Your Finances","item":"https:\/\/rkillen.ca\/financial-literacy-month-can-help-you-take-charge-of-your-finances\/#breadcrumbitem"}]}]