Improve Your Financial Literacy: 6 Money Smart Resources

Improving your financial literacy can have a huge impact on your quality of life. Unfortunately, the education system doesn't always do a great job of giving us the knowledge we need to succeed. As Canadians, we need to take it upon ourselves to gain these skills. Thankfully, many groups have recognized this lack of knowledge and created tools and resources that we can use to improve our financial knowledge for free! Here are six of the best options.

1. Canadian Financial Literacy Database

- From our very own federal government, this vast database contains tools for Canadians seeking to improve their financial literacy. It is divided by topic, but you can also navigate based on who you are and what stage of life you are in. The resources include information on budgeting, money management, insurance, saving, investing, and taxes from various organizations, so whatever you're looking for, there's a good chance you can find it here!

Check out this invaluable tool at no cost here:

Canadian Financial Literacy Database

2. Practical Money Skills

- Practical Money Skills is a free resource for those seeking to boost their financial literacy. A brief description found on their website says this:

Practical Money Skills is a free financial program to help people understand the basics of money management, it's created by Visa and the program offers money management tools including calculators, games, and lesson plans tailored for use by Canadian families and educators.

This is a comprehensive resource that can provide value to just about anyone. Access is free of charge here:

Practical Money Skills

3. Financial Literacy Self- Assessment Quiz

- The Canadian government has created this quiz to help you identify where you can improve your financial knowledge. Your results come with relevant links from the Canadian Financial Literacy Database based on your answers to the questions.

You can check it out for free here:

Financial Literacy Self-Assessment Quiz

4. Spending Smarter Tools

- This resource is from the Office of Consumer Affairs. It offers an array of tools that will help you make the most of your financial situation.

Spending Smarter Tools

5. CPA Financial Wellness Guide - This guide has been developed by CPA Canada and the Financial Planning Foundation. Their website describes it as follows:

Take control of your financial situation
- learn key money terms on your own time, in your own space
- look at your finances from a holistic point of view
- get free, trustworthy advice with no strings attached
- develop a personal game plan

You can access this guide free of charge here:

CPA Financial Wellness Guide

6. Financial Intelligence Training (F.I.T.)

- Refresh F.I.T. is a course offered to all Refresh clients free of charge. It is broken into seven parts and is easy to navigate, plus the video format makes getting through it a breeze. Once finished, you will have all the tools you need to handle your finances like a pro!

Check it out:

Financial Intelligence Training

Do you know of any tools out there that could help people improve their money smarts? Let us know in the comments!

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