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November Is Financial Literacy Month in Canada

Posted on 26 November 2020

It’s that time of year again! Now celebrating its 10th anniversary, Financial Literacy Month is an initiative organized by the government of Canada that takes place every November. The month-long tradition puts a focus on empowering citizens with the knowledge and tools needed for effective financial management and building brighter financial futures.

At Spergel, we fully support this initiative and carry the spirit of Financial Literacy Month with us year round in our Online Learning Centre. This particular month, however, is a wonderful time for Canadians to increase their financial literacy before the mad rush of the holiday spending season begins. By gaining such knowledge now, setting New Year’s resolutions for eliminating that holiday debt in January also becomes much easier.

To help you navigate the nuances of debt, debt relief, and debt management as part of your financial literacy education, here is a compilation of links to some of the best resources from our team of expert Licensed Insolvency Trustees…

What Is A Licensed Insolvency Trustee? Want to know what a Licensed Insolvency Trustee (LIT) is and what they do? Read this post.

For the advice on this page to make the most sense, a good starting place would be to learn what a Licensed Insolvency Trustee is and what they do.

Though most people know what a banker, bookkeeper, or financial advisor is, it’s pretty rare to hear someone talking about the meeting they had with a trustee. This is unfortunate, because LITs are a Canadian’s biggest ally when it comes to protecting your rights while dealing with debt.

Now that YOU know they exist you can include them on your list of resources and team members to consult when making financial decisions for your future. If you can imagine a debt problem, our LITs have seen it – and helped people through it.

Learn more in our article about Licensed Insolvency Trustees

The Red Flags of Money Problems

The next step would be to learn how to identify the warning signs of insolvency. Sometimes money trouble hits us hard and fast. Other times, it’s a slow build (like a snowball growing in size as it rolls down a mountain). If you know the tell-tale signs of money troubles, you and your loved ones can recognize them and take corrective action before they become serious money problems.

Learn more in our article about Identifying & Avoiding Money Problems

How-To Guides

In Canada, major life events tend to coincide with major expenses, bills, and (often) debt. Going to university costs money, having children costs money, getting married and throwing a reception costs money, buying a home costs (a lot of) money, getting divorced costs money, getting sick costs money, it even costs money to be buried when you die! It’s no wonder, then, that so many people experience financial hardship at some point in their lives. Here are a few of our best guides for navigating debt through major life events:

Money Tips

Whether you are wanting to avoid debt or dig yourself out of it, a little budgeting can go a long way. Here are some helpful tips for how to manage your spending and savings year-round.

You can also watch videos about success stories and debt tips on our YouTube Channel.

Debt CalculatorDebt Freedom Calculator

If you have debt and want to know how long it will take to become financially free or are curious about how much it will cost you to get your freedom back, our Debt Freedom Calculator will do the math for you quickly and easily (so you don’t have to crunch the numbers). It will also show you the different options you have (some of which you may not yet be aware of!) and how they compare.

Start Calculating!

One-On-One Consultations

Of course, we’ve saved the best for last. There is no substitute for the kind of attention, knowledge and personalized solutions you can get from a one-on-one meeting with another human being. Especially when that human being gets what you’re going through and is qualified to help. Consultations with our Licensed Insolvency Trustees are free of charge, can be done remotely (by phone or video conference call) and are available year-round. There is no obligation to hire our services. This is simply an invitation to chat and we are more than happy to work with your schedule to find a time that serves your needs. Money Tips are a great place to start on your path to debt freedom – no matter your age!

To schedule your discovery session, you can either reserve a time using our online booking calendar, email us at hello@spergel.ca, or call toll-free at 1-877-501-4321.

In whatever ways you choose to increase your financial literacy this month, we wish you all the best in your money management studies and financial future.

From all of us at Spergel, Happy Financial Literacy Month!

Knowledge Is Power. Let’s Go!

Helpful starting information:

What to Bring to an Appointment

To get the debt help that you need, please bring a list of who you owe and how much to each, a list of everything you own and your monthly household budget. Don’t have everything right away? Don’t worry – We will guide you through each step.

Download Form

Your Information

We’ll walk you through our application process. But, if you want to prepare for your debt free assessment consultation in advance, download our information form and fill in what you can.

Download Form

Calculate Your Debt Repayment Options

How can you compare your debt repayment options if you don’t know how much they will cost you? Your solution will become much clearer when you are able to compare costs.

Debt Calculator

Ready to Be Debt-Free?

If you’re ready to be debt free, it’s time to meet with one of our knowledgeable Licensed Insolvency Trustees at your convenience and get started

Meet with a trustee