Financial Literacy @ CIES

Understanding financial matters, complicated budgets and the overall economic nature of a country is challenging enough on its own. When doing so in a new country and in a different language, things can quickly move from challenging to overwhelming. Many scrape by with little understanding of what budgeting in Canada entails until creditors come knocking or they have an emergency and unpleasant realities have to be confronted.

At the very least designing a budget will help you to figure out where your money is going and where you can cut back. The tricky part is sticking to your budget.

Financial literacy is an essential skill that needs ongoing attention – today’s labour markets dictate that individuals have a high level of financial literacy. If left unchecked, the low numeracy skills in Canada could affect Canada’s ability to compete in the global economy.

The Money Smart Financial Literacy Project aims to inform low income newcomers and financially challenged individuals about:

• The financial services in Canada
• Banking system in Canada: different banks, services, accounts, mortgages, how to obtain credit, the fee for service
• Assistance in developing skill, knowledge, and confidence in financial issues
• Basic financial management and budgeting
• Meet financial obligations

Activities included but not limited to:

Workshops, meeting with professionals from the finance and banking industries, face to face meeting with a financial counsellors, arranged field trips to different financial institutions, and hosting special financial literacy events. For more information give us a call at 403-291-0002.