Financial Literacy & Money Management

Financial literacy ultimately determines an individual’s socio-economic status. Black individuals, due to lack of access are almost always at the bottom of the chart when it comes to overall income. Financial literacy in the Black community is imperative for the economic prosperity of Black Canadians across Canada. According to a 2015 report released by the Canadian Center for Policy Alternatives, 60 percent of Black Canadians fell into the bottom half of the national distribution of economic family incomes, compared to 47 per cent of non-racialized Canadians.

Focus: Black Youth 15-29 years
Duration:
Registration: Required
Next session starts: TBD

Description:

Financial literacy is a fundamental building block for success. The Financial Literacy & Money Management Program will enable underserved youth to improve their financial literacy skills as well as increase their understanding and comfort level in dealing with financial management. This program involves a series of workshops led by industry professionals that focuses on key concepts and principles of financial management.

Underserved youth will engage with this innovative curriculum and other materials and become educated on complex financial management skills, namely:

  • The relationship between education and meaning potential
  • The importance of making good financial decisions
  • The basics of credit, debt, banking, earnings & taxes, retirement & investing
  • The options for paying for post secondary education
  • Financial literacy & management
  • How to manage taxes
  • How to develop a healthy relationship with money
  • How to invest
  • How to understand real estate
Goals & Objectives:

The goal of the program is to enable youth with financial management to improve their financial literacy skills to ensure financial independence. Studies have shown that providing education around financial management early can improve outcomes for youth. The main objectives include:

  • To provide the tools for Black youth to be better prepared socioeconomically (the application of social skills and integration of financial literacy)
  • To ensure that Black youth have a better sense of how to sustain a regiment that will allow them to build wealth while also maintaining a healthy trajectory of personal development.
  • To increase understanding between the connection of life skills and financial well being
  • Character development and leadership skills in all aspects of learning, personal and professional development
  • Engaging participants in interactive learning and capacity building through appealing content nestled in the appeal of Pop Culture
  • Leaving participants with practical transferable life and professional skill sets that will render them competitive on the open marketplace and in any number of industries and interests.
  • Completing a project with tangible results i.e. personal portfolios that will continue to inspire further achievement.

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