Money Matters: Becoming Financially Literate

Are you smart with your money? If not, have you always wanted to be smart with your money?

Financial literacy is one of the fundamental things that many individuals struggle with – regardless of age. In fact, only 61% of Canadians are able to correctly answer five of seven financial knowledge questions. Moreover, the yearly saving rates drastically dropped from 20% in the 1980’s to a mere 4% today – that’s a whopping 80% decrease.

What Is Financial Literacy?

Financial literacy refers to the knowledge, skills, and confidence that people need to make responsible financial decisions about managing personal money, finance, and investments. Based on this definition: Knowledge refers to an understanding of personal and broader financial matter; skills refer to the ability to apply that financial knowledge in everyday life; and confidence refers to the means of having self-assurance to make important decisions.

Everyone should be financially literate because when they are, they’re able to: Make smarter day-to-day decisions about spending money, stay on top of financial obligations, and plan ahead for life goals like buying a home or preparing for retirement.

The Money Matters Program

If you’ve decided that you want to be financially literate, the Money Matters program can help you with that.

At Sprott Shaw, we offer a free program in our curriculum that can set you up to become financially aware and educated. The Money Matters program, made possible in collaboration with our partners at Enriched Academy, is available for many of our students online and through the mobile app, which is offered on both iOS and Android platforms. The program includes engaging, interactive video-based courses that provide critical financial and life skills to enhance your financial health and new career.

Sometimes, learning about finances is not the most entertaining subject – and we understand that. That’s why the Money Matters program offers short and easy to absorb videos that will answer your most frequently asked money questions while also helping you develop a concrete understanding of the concepts.

A few of the core topics covered throughout the program include how to: Control and eliminate debt; build your wealth; manage your finances; achieve career mastery; maximize your credit score; use credit to your advantage; and invest in stocks, real estate, and other powerful strategies. Plus, there are several bonus courses on other relevant topics like retirement planning, private lending, leveraging equity, and the stock market.

Before starting your journey to financial awareness, the program will ask you a few optional multiple-choice questions to help set up your profile and create an informed understanding of your current financial knowledge and situation. With your profile set up, you’re ready to go and start your journey to becoming financially literate!

Along with the videos, you’ll also receive access to exclusive tools and materials like a robust workbook, glossary with key terms, budget and network tracker, debt crusher calculator, and student loan calculator.

Visit the website or download the app to try it out for yourself! (Please note that videos are only available on the website).

Need assistance?

Our advisors are happy to answer any questions.

Search Posts

Input your topic to begin your search:

Affiliations and Associations

Contact an Admissions Advisor for More Information Today!