Canadians owe $1.69 for every $1.00 they make. 44% of Canadians live paycheque to paycheque and 35% don't save for retirement. For many Canadians, this picture is not one of financial wellness. What can we do to change this?
When investor's lack information or skills, there is a high chance they are not making confident financial decisions, leading them to feel financially insecure. Many of us were never taught financial skills and financial literacy isn't something we innately know. Hayes Vickers Private Wealth wants to support, help, and educate you and your family in gaining the necessary financial skills so you can achieve your goals, confidently!
If you have been reading our blogs you will know many of our posts are dedicated to helping you make informed decisions around personal finance. Our clients have expressed an interest to have more financial literacy, particularly for the younger adults and teenagers in their families. We are excited to offer an additional resource that you, or a family member, can use to better understand your personal finances. In celebration of Financial Literacy Month, McGill University's Desautels Faculty of Management has collaborated with RBC and the Globe and Mail to develop a program to increase access and deliver personal financial education to all Canadians across the country for free!
There are a series of Modules (in video format) you can work through that will provide:
- Introduction to Personal Finance
- Understanding Debt and Borrowing
- Budget building
- Basics of investing
- Information to help understand Real Estate
You will also find a series of articles on these topics as well. We think these modules are ideal for your young adult family members, empowering them with the skills to make informed financial decisions and build a strong foundation to improve their future relationship with money.
Simply register for McGill Personal Finance Essentials to complete the modules and access the articles.
To further your own learning click on the following:
Watch a video to learn about trusts and why you would use them from the Wealthy Barber, David Chilton
Listen to a podcast on How investment managers integrate ESG analysis into their investment processes
Hayes Vickers Private Wealth