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Economic Boom Financial Literacy & Learning

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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.

3Your money is our favourite subject.3

Our Services

Coaching

Debt management programs

Corporate & Community Services

Website www.moneymentors.ca

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Today’s Presentation

What’s happening out there?

Why is financial literacy so important?

What can we do?

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What’s Happening Out There?

Canadian are not saving!

• 27% households no savings/no RRSP’s

• 61% have no pension plans

• 50% are 1 or 2 paycheques from financial crisis

• 20% using RRSP’s to finance daily spending

• 20% could not handle emergency of $5000

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What’s Happening Out There?

Increased Uncontrolled Spending

• Attitude to live for today

• Conspicuous consumption• Homes

• Cars

• Discretionary spending

• Denial

• Gold collar generation

• Anticipated inheritances

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What’s Happening Out There?

• Cost of Living is Skyrocketing

• Housing and rent

• Parking

• Property taxes

• Multiple vehicles

• Utilities

• Education

• Higher wages passed to consumers

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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

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Educate

Empower

Refer

Develop Partnerships

What Can We Do?

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Become Financially Literate!

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Thank you!

Questions