Economic Boom

1
Economic Boom
Financial Literacy Learning
2
Money Mentors

• Our Mission
• To educate Albertans in personal money management
  and the wise use of credit and to provide
  alternatives for individuals and families facing
  financial challenges.

3
Our Services

• Coaching
• Debt management programs
• Corporate Community Services
• Website www.moneymentors.ca

4
Todays Presentation

• Whats happening out there?
• Why is financial literacy so important?
• What can we do?

5
Whats Happening Out There?

• Canadian are not saving!
• 27 households no savings/no RRSPs
• 61 have no pension plans
• 50 are 1 or 2 paycheques from financial crisis
• 20 using RRSPs to finance daily spending
• 20 could not handle emergency of 5000

6
Whats Happening Out There?

• Increased Uncontrolled Spending
• Attitude to live for today
• Conspicuous consumption
• Homes
• Cars
• Discretionary spending
• Denial
• Gold collar generation
• Anticipated inheritances

7
Whats Happening Out There?

• Cost of Living is Skyrocketing
• Housing and rent
• Parking
• Property taxes
• Multiple vehicles
• Utilities
• Education
• Higher wages passed to consumers

8
Why is Financial Literacy Important?

• Financial Stress
• Money issues 1 stressor of employees
• Money stress becoming the leading cause of
  marital breakdowns
• 31 indicated spending as source of marital
  tension
• 22 committing spending infidelity

9
What Can We Do?

• Educate
• Empower
• Refer
• Develop Partnerships

10
Become Financially Literate!
11
Thank you!

• Questions