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Call for a Fresh Financial Start
Call for a Fresh Financial Start

5 of the Best Online Resources to Improve Your Financial Literacy

November 18, 2020

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All of us have our own financial goals and dreams, varying incomes and financial IQs and we’re all at different places in our financial journey. One thing we do have in common though, (I’m assuming because you’re reading this blog!) is that we’re all eager to learn more, take control of our money, and create lasting financial freedom for ourselves and our families.

The amount of information available online regarding personal finance can be seriously overwhelming –lots of tips, tricks, shortcuts and contradictory information is floating around on the web. It can be difficult to filter out the good stuff, so we’ve put together a list of trusted financial resources to help you cut through the clutter.

1. Financial Consumer Agency of Canada (FCAC)

The FCAC has put together a Financial Toolkit aka a comprehensive learning program that provides basic information and tools to help adults manage their personal finances and gain the confidence they need to make better financial decisions.

This program walks you through 12 comprehensive modules that include information on topics like Income, expenses and budget, Saving, Investing, Income taxes and Fraud protection.

2. Office of the Superintendent of Bankruptcy (OSB)

While this program was developed primarily for people going through the insolvency process, the OSB has designed a Financial Counselling Program that is beneficial for anyone looking to learn how to create and maintain a budget and learn how to set and achieve financial goals. The modules also touch on spending habits and responsible use of credit.  

3. Personal Finance Blogs 

There’s no shortage of people on the internet willing to share their personal money stories and antidotes. Here are some of the goodies that focus on financial literacy (#FLM2020):

  • Jessica Moorhouse – Jessica’s main passion is personal finance and living a balanced lifestyle. Ever since she discovered the transformative powers of financial literacy, her mission has been to teach others how to take control of their lives by taking control of their money. There are all kinds of great blogs, podcasts and videos for you to check out!
  • Young & Thrifty – Young and Thrifty has been named the Best Personal Finance Blog in Canada by our peers and we pride ourselves on breaking down confusing jargon into fun, bite-sized chunks. Young and Thrifty posts are basically what should have learned in high school – but didn’t!
  • Boomer & Echo – The head writer start this website as a way to share his financial journey and some of the lessons he learned along his path towards financial freedom. It’s a great resource for tips on how to save money, invest well, and retire comfortably.

4. Canadian Credit Bureaus 

Credit reports, scores and rebuilding are always hot topics with our clients. Equifax and TransUnion are great resources for from free credit education, including valuable information about Credit Reports, Credit Monitoring, and Debt and Money Management.   

(We’ve also put together a blog post to help explain ins and outs of your credit report and score and also provide some tips on how to rebuild your credit.)

5. Smythe Insolvency Website 

Of course, we need to include ourselves on this list! We put a lot of effort into ensuring that our website is chock-full of up-to-date and accurate resources to help you on your financial journey.

  • Our Blog – Written by experienced and trusted LITs and Debt Advisors, our blog covers topics about debt relief and management solutions, financial and mental health, credit information, budgeting, and so much more.
  • Social Media – Check in with us weekly for new blogs, success stories, motivational quotes, debt tips and more!
  • Debt Calculator – Our debt calculator tool is designed to help you compare your options and help you decide which debt relief solution is best for you and your unique situation.
  • Financial Literacy Self-Assessment Quiz – This quiz allows you to figure out how your financial literacy skills and knowledge measure up to other Canadians.
  • Budget Calculator – Calculate your personalized budget using this tool on the Government of Canada website.
  • Credit Card Payment Calculator – While it’s always our recommendation that you pay off your full credit card balance by the due date, we understand that sometimes this is not possible. Next best thing? Reduce the amount of interest you have to pay. Use this Credit Card Payment Calculator to compare different options of paying off your balance.
  • Free, confidential consultation – Our Licensed Insolvency Trustees are always available to discuss your financial situation with you, walk you through your options and answer any questions you may have. It’s free and there’s zero obligation.

 



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