Monday, February 14, 2011

Steps to Financial Fitness


In the 2009 Federal Budget the government assigned a Task Force on Financial Literacy to come up with an action plan to increase financial literacy levels in Canada. Last week, the much-awaited report was released. You can read it here: http://www.financialliteracyincanada.com/eng/about-the-task-force/mandate.php

If you're looking to improve your own personal financial literacy level, below are a few tips to get you started:

1. Establish your goals.
When it comes to financial literacy, where do you want to improve? Do you want to start investing? Saving? Learning more about certain financial topics that currently intimidate you?
2. Immerse yourself in the online community.
There are a plethora of blogs and Twitter accounts out there designed to offer tips and tricks for individuals who are looking to improve their financial literacy. Canadian Capitalist, Million Dollar Journey and Thicken My Wallet are three good places to start.
3. Start reading the business section.
And more specifically stories that relate to personal finance. Many newspaper articles and columns will address complicated financial topics in a simplified manner. They'll also talk about new government programs and rebates as they arise.
4. Talk to people.
If you have a friend who is an investing wiz, talk to him or her! They'll probably be able to point you in the direction of interesting books, trusted professionals or other resources that can help you along your journey.
-Article courtesy of Axiom Mortgage Partners

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