FLM2017 How to Participate In FLM This NovemberNov 02, 2017
Have you heard? November is Financial Literacy Month (FLM). It’s a great time for families to focus on their finances, their financial health and well-being. Here are three ways you can participate:
1.) Get to know your debt
With consumer debt on the rise across the country, reducing debt should probably be a top priority for Canadians this FLM. In order to find debt relief, it’s important to really understand how much you owe. A debt calculator can make this easy to figure out by calculating the total amount you owe, the time it will take to repay and the total amount of interest you will need to pay.
2.) Start a conversation
Financial Literacy Month is a good time to start an open and honest conversation about your finances and debt, particularly if you have been avoiding this topic. Having open conversations with your partner and other family members is an important way to avoid financial and debt issues. It’s also a good way to create a plan, where you can work together to reduce the debt you owe and find relief.
3.) Share your knowledge with your kids
As personal finance blogger Kelley from Golden Girl Finance writes, it’s never too early to start discussing finances and debt with your kids. By approaching these topics early, you’ll ensure that your children have a solid understanding of the best ways to manage money and avoid potential debt problems. For great activities and ideas to help your children learn about money and debt, check out the blog article Kids and Money: It’s Never Too Early to Teach Good Habits