
Getting clear about how much money comes into your household and how much money goes out of your household is a great place to start. Is there room to increase your income? Is there room to curb some expenses? Could you be saving more? Are you on track with your goals? Do you know what your goals are?
Learning about and managing your finances does not have to be intimidating. Becoming more financially aware and healthy starts with looking at where you are and where you want to be in three, five, ten and twenty-five years from now.
There are many amazing resources available to help you get started. You could start with your own financial institution’s website; they have tools and calculators to help you along. As well, itpaystoknow.gc.ca has a Canadian Financial Literacy Database and self-assessment quiz. The database has self-assessment tools, sample budgets and lots of information on how to pay down debt, save for retirement, and invest in your future - including the importance of having an emergency fund. The self-assessment quiz lets your find out how your money management skills measure up compared to other Canadians.
If you like to learn in a face to face environment, check in your community for free Financial Literacy classes and workshops that may be offered through the Columbia Basin Alliance for Literacy or other organizations.
Like anything, financial well-being is a way of life, much like being physically healthy. It requires making steps each day toward our goals. It isn’t always easy - but the payoff is being able to pursue the things that are truly important and having the financial know how to do so.
Laurie MacDonald