Now that we have fully adopted electronic transactions and have retired the cheque have we forgotten about a really important tool? Most people today; get paid by direct deposit; have given authorization to various organizations to automatically remove money from their bank account for car payments, mortgage payments, life insurance payments; withdraw cash from ATM’s…
News & Updates (page 2)
Website Administrator Wanted
The Manitoba Financial Literacy Forum is looking to hire on contract a WEBSITE ADMINISTRATOR who will be highly organized, creative and results driven. The incumbent will have experience in: Website administration Website design and organization Information technology experience Ability to work in WordPress and/or other content management systems Click here for more information about the position…
Paper or Plastic or Cloud? The Evolving Concept of Money
You need only to look at the recent demise of the penny, or see the “wave your card here” payment option at the supermarket to know that the way that we think of and use money is changing. In ancient times, humans would barter objects or labour directly. A farmer might give his neighbour two…
FCAC Announces New Research on Financial Decisions and Retirement
The Financial Consumer Agency of Canada (FCAC) recently announced the release of new research on the delivery of financial literacy information in Canada. An excerpt: “It is estimated that the average Canadian currently approaching retirement age can expect to live until the age of 86. People who retire at the age of 65, will have to live on their…
2016 National Financial Capabilities Study Released
On July 12, 2016, GFLEC and the FINRA Investor Education Foundation co-hosted the release of the data from the 2015 National Financial Capability Study (NFCS). The NFCS is an ongoing, multi-year project by FINRA Foundation aimed at monitoring and better understanding financial capability in America. The first wave of NFCS data was collected in 2009…
Back to School! Teaching Savings vs Spending to Kids
Explaining Savings Versus Spending To Your Kids Oct 2015 Teaching your kids good money habits is not easy. It is not a one-time tutorial, but instead an ongoing process of setting good examples, explaining money concepts and letting them learn by trial and error. However, it is an important lesson that is often learned from…
MBFLF Co-Chair Receives CCC Award
The Forum’s Sally Massey-Wiebe presented Co-Chair Ainsley Cunningham with the 2016 Credit Counselling Canada Award for her work to promote financial literacy in Manitoba. Ainsley, Manager of Communications and Education with the Manitoba Securities Commission, was a co-founder of MBFLF, and has spent years fostering great knowledge of financial planning and preparedness among Manitobans from…
Talk to Your Kids about Money Month
April 20 is Talk to Your Kids About Money Day, a program of the Canadian Foundation for Economic Education. Find a list of tips for creating money-talk opportunities here: TALK WITH OUR KIDS ABOUT MONEY There are also resources for educators and professionals in the financial services industry. Make money matters a family matter!
Help Your Debt, Help Your Health
As more studies are done on the correlation between physical and financial health, one thing has become crystal clear: the more affluent you are, the better your physical health is likely to be. According to the Public Health Agency of Canada, social and economic status “seem to be the most important determinants of health”. There…
New Graduated Minimum Down Payment Rules
As of February 15, 2016, the minimum down payment for new insured mortgages increases from five per cent to 10 per cent for the portion of the house price above $500,000. The five per cent minimum down payment for properties up to $500,000 remains unchanged. Finance Minister Bill Morneau announced these changes in December 2015.…