This month marks 15 years of Financial Literacy Month, an initiative led by the Financial Consumer Agency of Canada (FCAC).
Each year, the FCAC uses this month to highlight the importance of financial education and well-being. Caroline Araujo Abbotts, United Way Bruce Grey's Financial Literacy Program Coordinator, says the Financial Literacy Program is a free program that the United Way runs for anyone in Grey and Bruce, and they want more people to be aware of it during Financial Literacy Month.
"What I do is I meet with people, we talk through what their financial goals are, what they're concerned about related to their finances. We then talk about their monthly expenses, their monthly income, their assets and their debts," she shared. "And then I can give them information about programs that can help their finances, ways to deal with debt, what their options are, and also what are strategies that help. So most times people say 'Oh you teach people how to budget' and I say that is a small part of it."
Caroline says a budget is a great tool, but it is a jumping off point for people she assists. She helps them look at programs to help them reach their financial goals, including ensuring someone is getting everything they can from programs from the government if they're eligible, for instance.
She emphasizes she does not ever handle anyone's money, she is there as a guide. She notes that all her clients come through referrals through things like United Way's 211 call program, and having financial literacy available is huge for many people.
"What I'm seeing is a lot more people are living not paycheque-to-paycheque, but really bill-to-bill. So 'Which bill am I gonna pay a little bit off the arrears to keep that utility from being shut off.' And we have things like the United Way Utility Assistance Program, the Good Food Box, homelessness assistance programs, and much more. This Financial Literacy Program is part of the wraparound of services, supporting people where they are with what's important in their life in the moment, to help create some stability in their life," she pointed out.
This year’s theme for Financial Literacy Month, Talk Money, encourages Canadians to have open and honest conversations about money to strengthen financial knowledge, skills, and confidence.
"Talking about money and finances helps people share knowledge, seek advice, and plan for their future," explains the FCAC. "It’s about breaking down the stigma that often surrounds financial discussions."
In 2024, 297 households accessed the United Way's Financial Literacy Program, which is funded through community donations, small grants, and matching funds.
The Financial Literacy Program also supports local social service organizations. In August, 20 workers took part in a budgeting workshop facilitated by United Way.
One participant shared, "The workshop was a great reminder to put aside our personal values and beliefs. Budgeting isn’t just about the numbers; it’s about aligning those numbers with what’s important to each individual."
The team also writes a Financial Friday Blog, published every week on the United Way Bruce Grey website, sharing practical tips and community resources to help people manage their money.
To learn more or connect with the United Way Bruce Grey Financial Literacy Program, visit www.unitedwayofbrucegrey.com or call 211.
