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Financial Literacy Resources

free financial education in Burnaby

If you’ve ever asked yourself “how can I get free financial literacy resources in Burnaby?”, here is your answer. On this page, we’ll list some financial literacy resources that will help you start down the easy path to financial literacy.

Financial literacy is something that everybody needs as long as money is a useful commodity in their lives. If it is true that most people could use more money in their lives, then it’s also true that most people will benefit from greater financial literacy.

Financial literacy is not taught in schools. When we see people who are smart with money, we might say something like: ” they’re just smart. I could never be that smart” or “only people who grow up with rich people know all that stuff. I never had rich family or friends…”

While intelligence or being close to rich people can give you a leg up in accessing financial resources, everyone, including you, can learn the same skills the usual way: through research and practice.

Financial well being is largely a function of time. The more time you spend practicing smart money habits, the better off you will be financially. So it’s important to start now.

1. ABC Money Matters: A free introductory financial literacy program tailored for the general public, newcomers to Canada, Indigenous Peoples and people with diverse abilities.

ABC Life Literacy Canada is a national literacy organization dedicated to promoting adult learning in Canada. It has created free introductory financial literacy programs that can be tailored to the needs of adults, newcomers to Canada, Indigenous Peoples and people with diverse abilities. If you want to learn the basics of personal finance in an informal workshop setting, this is the free financial education in Burnaby for you.

How it works:

  • Free workshops focusing on beginner financial topics are delivered in person or online by a local organization (i.e. community centres, libraries, schools, etc) with support from ABC Life Literacy and TD Bank.
  • Approachable, group discussion-based activities are used to conduct the workshops.
  • Discussion topics are based on the needs of learners, which usually includes:
    • Spending Plans,
    • Banking Basics,
    • Borrowing Money,
    • Ways to Save, and
    • Smart Shopping
  • Workshops are approximately 2 hours long.
  • Printed material are provided free of charge.
  • You can also take the free online course version using free downloadable workbooks, the links for which are all found on this page.

Who can host workshops?

  • Learning and Community Centres
  • Libraries
  • Seniors Centres
  • ESL Programs
  • Settlement Agencies
  • Colleges & Universities
  • Parenting Programs
  • Employment Centres
  • Health Centres
  • High Schools
  • Youth Support Programs
  • Disability Support Programs
  • Workplaces
  • and more!

How to join a workshop

  1. Check out this map to find Money Matters workshop locations across Canada.
  2. Look for the Money Matters workshop at your preferred local institutions listed above. If they don’t offer it, ask them if they can host a workshop by providing them this link.
  3. Alternatively, you can take the online courses found at this link.

Money Matters For general adult learners including newcomers to Canada

Aimed at the general adult learner, the standard Money Matters program includes 10 hours of workshop content with free downloadable workbooks available in English, French, Arabic and Chinese.

There are five workbooks to choose from:

  1. Spending Plans (also available as an online course)
  2. Banking Basics (also available as an online course)
  3. Borrowing Money (also available as an online course)
  4. Ways to Save (also available as an online course)
  5. Smart Shopping

Money Matters For Indigenous Peoples

The Money Matters program for Indigenous Peoples adapts the standard program and its examples to reflect the realities of Indigenous communities in Canada.

There are four workbooks to choose from:

  1. Budgeting and Spending Plans (also available as an online course)
  2. Banking Basics (also available as an online course)
  3. Credit and Borrowing
  4. Ways to Save

These freely downloadable workbooks are available in English.

Money Matters for People With Diverse Abilities

This program is adapted to meet the needs of learners with various intellectual, verbal, physical and nonphysical capabilities. It includes 7 hours of workshop content for seminar presentation in 7 modules:

  1. What is a Bank?
  2. Ways to Pay
  3. Needs, Wants, and Spending Plans
  4. How to Use an ATM
  5. Understanding Your Paycheque
  6. Money Safety
  7. Facing Challenges

These freely downloadable workbooks are available in English and French.

2. The Government of Canada’s Financial Literacy Tips: free financial education in Burnaby or elsewhere in Canada

If you thought government websites are difficult to follow, you might be in for a surprise. Canada has revamped its money tips website for its citizens to ensure that all Canadians can easily access the tools for financial security.

The basics

The following links are some of the most important basics of financial literacy that is explained clear and simple terms with practical step-by-step instructions.

You can find the full set of money tips, including calculators and tax information, on the following page: Canada’s Money Management Tips

Finances During the Pandemic

The coronavirus pandemic is here to stay. Many of us have benefited from government assistance due to the loss of income during the lockdowns and restrictions. The government is aware of these issues and have provided a page containing all the information you need to access the full set of pandemic assistance you may qualify for: Canada’s COVID-19 Financial Resources

3. Moneysense.ca: free financial education in Burnaby or elsewhere in Canada

Whether you’re in Burnaby or elsewhere in Canada, with you have an internet connection, you can get free financial education in Burnaby through moneysense.ca. Moneysense.ca is a digital magazine and financial media website featuring content produced by Canadian journalists and qualified financial professionals.

If you want to get full and complete explanations of what a TFSA or an RRSP is in an easy to understand language, moneysense.ca is the place to find it.

While some of the information on the site is published for advertising purposes, it is very reliable and accurate in its foundational educational material. Instead of long and detailed articles, you’ll only find short and sweet tutorials written in plain language with easy to follow examples.

To get started, you can begin by scrolling through the articles on this page. You can click the search button at the top of each page to search for information specific to your need. At the upper navigation links, you can also find important categories such as save & invest, your home, family planning, smart spending, and more.

The U.S. stock markets have historically been the greatest generator of wealth in recent history. If you want to get into investing and don’t know where to start, this website will show you how. You can leverage the research done by professionals who are committed to helping everyone get wealthier.

4. Google

Last but not least, while moneysense.ca is a great source for free online financial education, it isn’t the only one. There are many more sites like it that you may find even more useful. One such site is investopedia.com. You can find sites like this and more using a Google search. Google is your ultimate gateway to building financial knowledge in the information age. Googling lets you shop around for additional opinions when there are multiple factors to consider. Learning how to Google the right information to help you in your financial journey is an essential skill.

Just a couple of hours spent reading about financial topics per week can yield incredible returns on your time invested. For example, learning new and easy budgeting strategies can help you save more money, which you can now invest to create more money. And learning ways to monitor and improve your credit score can help you get better loans, like a mortgage, at cheaper rates in the future. If you plan on living in this world for any reasonable amount of time in the future, then these skill skills can become incredibly powerful. Even if you don’t have much money, putting these skills to use can add up to much more over time than many people realize. If you’ve ever found yourself asking if there are extra part time jobs you can take on for extra money, it might be a good idea to consider investing in an education in personal finance as an additional option.

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