November is Financial Literacy Month
Here at ATB Financial, we believe that financial literacy is an essential skill for life and with the right knowledge, anyone can build the tools to make smart financial decisions, whether it’s managing daily living expenses or building long-term investments.
As part of Financial Literacy Month, we have published several articles with supportive visuals tools to help you gain more knowledge on basic, but very important, parts of managing individual finances, achieving and retaining financial wellness. Here is a summary of resources that you may find useful.
Invest in your financial well-being
ATB’s hierarchy of financial wellness: The three foundations of financial wellness are financial literacy, financial security and financial confidence.
Four steps to achieving financial wellness: Financial wellness means having control over daily finances, the ability to recover from financial shock, staying on track with financial goals and the freedom to make decisions in life.
The truth about financial stress and your relationship with money: Do you have a negative response to the subject of money? You’re not alone. We spoke to Dr. Trudi Chalmers, our resident behaviour neuroscientist, to try to understand why money and stress are linked, and how we can find a cure!
Have a plan to pay off your debt
Prioritize to pay off consumer debt: If you’ve found yourself with a lot of consumer debt, learning how to prioritize those debts to increase cash flow can be a smart strategy.
Understanding personal loans: Is a loan just a loan? There are many different types of loans to consider, depending on your income, assets, budget and comfort level.
Should you pay off your mortgage or invest: There are both pros and cons to both options, but the best course of action will depend on several factors including your investing style, the amount you have left on your mortgage and the rate you’re paying.
Make informed decisions
Financial advisor or online investing? Advances in technology has made investing easier and information more accessible. Learn if investing online is the right choice for you and why you should always get advice from a professional financial advisor, either in person or online.
What is a joint bank account? Joint bank accounts are deposit accounts in which two or more people have rights over the same account. That means all parties have the right to deposit, withdraw or handle the money in the account no matter who puts the funds into it.
Borrowing from a Home Equity Line of Credit: A home equity line of credit (HELOC) is a line of credit that is secured by your home. Learn when this might be a good option for you.
Top 5 credit card myths and what to believe instead: There are many common credit card myths and believing them can be an expensive mistake. Three of our credit card experts help to get the facts straight so you can debunk those costly myths once and for all!
Are you an investment speculator? Speculating is the process of making risky investments that could yield high returns, typically in a short time period. Compare speculating to investing over the long-term for positive, stable growth.
Power of Attorney: understanding the implications: If you ever become unable to deal with your own money, property or finances, you’ll need a Power of Attorney. Even if you don’t need the help now, planning for a time when you may need help is very important.
Start good habits early
It pays to start investing early: When it comes to investing, time is your friend. The earlier you start investing, the better. Learn why with this infographic.
How to use a credit card and line of credit effectively: When you understand the risks of credit and how to manage it effectively, you can maintain a positive and healthy relationship with your money and credit.
Budgeting 101: Budgeting isn’t about eliminating the things you want to have, it’s about understanding where you’re spending your money so that you’re living within your means.
The #1 investing tip—and it’s surprisingly simple: We wanted to share our biggest piece of investment advice with you—and don’t worry, it’s actually pretty simple. Are you ready?
Take control of your finances
How to improve your financial literacy and why it matters: Victoria Clark, ATB’s Director of Payments simply defines financial literacy as having a good understanding of your personal finances. Learn what you need to know, how to educate yourself and how you can use that knowledge to your advantage.
Credit Myths and Facts - A Facebook Video Event: Credit. What is it? How do you build it? What impacts your credit score? Watch this Facebook video with business analyst Bronwyn McPhail to answer all of your questions.
10 things you can do to improve your financial wellness: Do you feel a sense of freedom when it comes to money and reaching your financial goals? Financial wellness is a holistic view of your attitude towards and your knowledge of your finances. Here are some tips to help improve it.
Have you been coasting on your savings? Take control of your finances: So, you’d say you’re pretty good with money? Making small, intentional changes with your finances could really maximize your money’s potential. Here are five steps you can take to start making those changes now!
Build on your financial literacy
ATB Financial offers a wealth of online resources that can help you build on your financial literacy. Browse through ATB Learn for helpful articles and smart, simple advice. If you want to speak with someone, stop by your local ATB branch.
If you have further questions regarding these resources, please reach out to an ATB Specialist in your neighbourhood.