Wake up call; Financial Literacy Month

It’s Financial Literacy Month, and some of ya’ll are in dire need of a financial wake-up and shape up.

With an increasingly shaky global economy (thanks to our neighbouring Halloween-hued president), It’s time to get your sweet caboose on the financial literacy train or be left in the lurch.

Borrowing rates, long at unprecedented lows, have begun to rise. Canadians with variable rate mortgages are feeling effects of this tightening noose already. As CBC reported recently, as many as one in three of Canadians say they are a mere $200 away from being unable to make their monthly bills.

How did we get here?

We are, individually and collectively, the product of our consumer culture. We’ve bought into and perpetuated the notion that net worth equates self-worth.

Canadians are bombarded with messaging that emphasizes the importance of wealth, both the accumulation and display. Nationally, we’ve normalized and embraced the carrying of large loads of debt for what is essentially the sake of keeping up with the Joneses.

Despite the personal toll that this ‘pride debt’ takes, it’s not difficult for individuals to justify unnecessary debt as they can feel necessary. Millennials, for instance, face unspoken pressure to keep up with society’s expectations (marriage, cars, kids, vacations, house, cottage) despite vastly different economic realities than their parents’ generation.

Pride and no prejudice

It may come as no surprise, but we didn’t whip ourselves into a collective Canadian debt frenzy all on our own. Financial institutions are notorious for taking advantage of naive clients by extending more credit than they can healthily carry. Also, income levels have failed to keep up with inflation, while our expectations for standards of life have climbed. Something has to give.

Take back your power

Everything sucks, now what?

And now, this is your ‘come to Jesus’ moment financially, so to speak.

It’s time to get right with your personal financial situation, and we want to make it as easy as possible for you.

For financial literacy month, we’ll be serving up real talk on building a stable financial foundation for your future.

We’ll share the three pillars of a good financial foundation and break down individually how you can strengthen yours. Additionally, we’ll provide resources for keeping yourself in check after financial literacy month is over.

Join us, and take back your power!

Have more questions? Feel free to contact us!