Building wealth in Canada
Session Objective
Learn ways and options to effectively manage money.
Learning Outcomes
- learn to create a realistic budget
- understand cash flow and how to control it
- learn how to effectively manage money
- learn how to define a financial plan
- understand the difference between “good debt” and “bad debt”
- understand the difference between “wants” and “needs”
- understand the key features of RRSPs, RESPs and TFSAs, and how they can help put a financial plan into action
- know where to go for support
Session Outline
- overview
- creating a budget you can stick to
- understanding cash flow
- the secret to being a good money manager
- defining your own financial plan
- sorting out your wants and needs
- three savings vehicles worth considering
- putting your financial plan in action
- some helpful resources
Learning Materials
- Sample Budget Worksheet
- SMART Goals Worksheet — helps set SMART goals which are specific, measurable, actionable, realistic, time-framed
- Glossary of Terms — defines various financial terms and items
