November 2024 is Financial Literacy Month in Canada, and Allan Marshall & Associates is pleased to take part in this annual program! As we approach the 14th edition of Financial Literacy Month, hosted by the Financial Consumer Agency of Canada (FCAC), this year’s topic is “Money on Your Mind” which aims to break the stigma associated with discussing money. “Talk about it!”
Talking about money can be difficult for many Canadians, but open discussions can build financial confidence and lead to better financial results. Throughout 2024, our Licensed Insolvency Trustees have shared thoughts and practical guidance through a series of podcasts intended at assisting Canadians in managing debt, improving their money skills, and developing financial resilience.
Join us in this important discussion this November by listening to our podcasts, engaging with us on social media, and taking the #MoneyOnYourMind challenge. Let’s build financial confidence together!
Here is a list of some of our most listened to podcasts in 2024:
How Do I Pay Off Debt When Living Paycheck to Paycheck
Nearly half of Canadians are living paycheck to paycheck due to rising living costs, leading to increased debt levels. Licensed Insolvency Trustee Matthew Fader offers strategies for breaking this cycle, including financial assessments, addressing spending habits, and evaluating options like consolidation loans or consulting with a LIT.
Budgeting Basics: Creating a Plan and Sticking to It
Most Canadians agree that having a budget is important, but less than half actually follow one. Licensed Insolvency Trustee Brenda Wood offers strategies for creating a realistic budget, including using budgeting tools, setting S.M.A.R.T. goals, and avoiding reliance on credit cards, while also recommending seeking professional advice if financial struggles persist.
Buyer’s Remorse In Canadian Housing Market
As rising interest rates stall the real estate market, many recent Canadian purchasers are regretting their decision, especially as mortgage renewal dates approach. Matt Fader, a Licensed Insolvency Trustee, talks how to financially prepare for renewals, the differences between house ownership and renting, the risks of HELOCs, and the advantages of seeing a LIT for help.
Get Your Finances Back On Track With A Debt Management Plan
Debt affects many Canadians, but having a clear plan can help you pay it off faster and regain financial stability. In this podcast, Licensed Insolvency Trustee, Amanda Sherwood, discusses how to create an effective debt management plan, including where to start, balancing savings with debt repayment, and understanding the impact of credit card cancellations on your credit score.
Shrinkflation occurs when manufacturers reduce package sizes without lowering prices, making it harder for consumers to notice price increases, especially during periods of high inflation. In this podcast, Licensed Insolvency Trustee Francyne Myers explains shrinkflation’s impact on budgets and offers advice on comparing prices, checking scanned goods, and seeking help from a Licensed Insolvency Trustee for financial guidance.
How Human Nature Leads Us Down the Wrong Financial Path
Francyne Myers, a Licensed Insolvency Trustee, emphasizes the importance of recognizing and understanding poor financial decisions to improve money management and avoid serious repercussions. She addresses various factors affecting financial habits, including mental health, social influences, personal values, and the quest for reliable financial advice, highlighting that improvement is always possible regardless of past mistakes.
How Worrying About Debt Can Affect Your Health
Many people experience financial worries that can negatively impact their mental and physical health, often stemming from issues like job loss, divorce, or unexpected expenses. In today’s podcast, Licensed Insolvency Trustee David Macdonald discusses the importance of addressing financial problems, the stigma of keeping them secret, and when to seek professional help, emphasizing that support from knowledgeable advisors is available to help regain control over one’s finances.
