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November is Financial Literacy Month

At WISE Trust, we know that financial literacy is a vital component of everyday life because managing your daily finances and making secure investments in your future are both closely related. We understand that navigating financial decisions can be complicated, which is why we are committed to helping you understand your pension and strengthen your financial planning skills.

Why financial literacy is important

As the financial marketplace grows increasingly complex, it is crucial that Canadians have the knowledge, skills, and confidence to make informed decisions about the financial products and services that best meet their needs. Understanding the basics about money is as essential today as basic literacy.

Three goals for you this month

To start on the right track this month, consider making these three goals for yourself:

  1. Build your knowledge. Read up on various financial topics. Whether its spending 15 minutes reading an online blog, scrolling through our website, or attending one of the events we have on at WISE Trust, every little bit counts.
  2. Let your goals be your guide. Setting financial goals and tracking your progress will drive you to learn and persevere. For example, if you are someone thinking of retiring, model your retirement income with the tool on My Pension Resource, to get a full picture of what your pension and other personal savings look like for your retirement income.
  3. Get familiar with your financial situation. Track your spending by making a budget and make sure you understand key personal financial documents including your pay stubs, investment statements, annual pension statements, loans, Wills, and Powers of Attorney.

Resources for you

  • Register for an education session hosted by WISE Trust, or one of our partner sessions with CPA Canada and the Ontario Securities Commission.
  • Check out the Government of Canada’s financial literacy month page that includes helpful resources and initiatives.
  • Find out how financially savvy you are compared to your fellow Canadians by taking an 8-minute quiz.

Resources for your family

Enjoy learning!

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