Want to spend more wisely? Talk about money

Eagle staff

“Talk Money” is the theme for Financial Literacy Month, observed each November in Canada.

The theme of the month’s 15th annual observance “builds on the momentum of last year’s campaign to help break the silence around personal finances,” according to a statement from the Financial Consumer Agency of Canada.

“Research shows that simply talking about money can boost financial confidence and lead to better financial outcomes,” the statement said.

An agency study published earlier this year “demonstrated that simply encouraging young women to reflect on and discuss their finances significantly enhanced their financial confidence and promoted positive financial behaviours,” the statement said.

“Everyone deserves to feel confident discussing money,” agency commissioner Shereen Benzvy Miller said in the statement. “The more voices we bring into the conversation, the greater the collective impact.”

The agency has a social media challenge underway, encouraging people to report “how they made a modest amount of money go further — such as $15, the average hourly minimum wage across the country,” it said. “Participants can use hashtags #FLM2025 and #TalkMoney to show support and inspire others to join the conversation.”

The month’s campaign page carries practical information and other resources so individuals and organizations can benefit most from the month’s activities. New this year are methods designed for libraries and other community groups.

The agency’s roles involve helping Canadians spend their money wisely and ensuring banks and other federally regulated financial firms abide by their legislative obligations, codes of conduct and public commitments.

“Financial literacy includes the skills and capacity to make informed financial decisions, as well as actions or behaviours that lead to positive financial outcomes,” the statement said. “Financial literacy is considered an essential skill, like reading and writing.”