Learn
42% of Canadians aged 16 to 64 have low financial literacy skills.
Financial literacy is having the skills, knowledge, and confidence to make responsible financial decisions
Save
3 in 10 Canadians save less than 5% of their income or nothing at all.
Find “hidden” money – reduce interest payments by paying off debts with high interest rates like credit cards first.
Protect:
1 in 3 Manitobans don’t recognize investment fraud.
Scam artists have an arsenal of tricks when it comes to parting you from your hard-earned money. Know the “red flags” of investment fraud
Teach
78% of parents have attempted to teach their children about money. Two thirds do not feel they have been very successful at it.
Explain how money works by finding ways to integrate lessons in daily life.
Own
Only 16% of Canadians take advantage of pre-payment rights to reduce the cost and length of their mortgage.
Making extra payments of as little as $50 a month could save you thousands and cut years from your mortgage.
Aging
4 – 10% of Manitobans will experience some form of abuse in their later years.
Staying involved in your finances
is your best protection.
Borrow
Payday loans are often the most expensive way to borrow money. A 14 day, $300 payday loan in Manitoba costs $51.
Explore every option when you are in a financial bind – the last resort should be a high cost loan.
Own
In Winnipeg 24.2% of registered First Nations people are home owners, compared to 75.7% of non-Aboriginal people.
Manitoba Tipi Mitawa can help to make your dreams of home ownership come true.
Inform
Did you know insurance agents and independent insurance adjusters must be licensed through the Insurance Council of Manitoba?
The ICM can provide you with information that you need to understand who you’re dealing with.
Plan
69% of mortgage holders have a fixed rate mortgage and 26% have variable and adjustable rate mortgages.
There are different types of mortgages with different costs. Learn about your options and find the mortgage that is best for you.
Adapt
14% of all Canadians have disabilities and 43% of Canadian seniors have disabilities.
A change in health often leads to financial challenges.
Prepare
You could add 25% or more to the returns in your RRSP investment depending on your tax bracket, age and unused contribution room.
This year, why not increase your tax refund by investing more in an RRSP?
Source: The Manitoba Securities Commission
