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Financial Literacy is So Important it Has its Own Month

Written by The Content Team

Published on November 15, 2018

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November may not rank high on a list of favourite months for many Canadians. Summer is well behind us and the days are getting shorter. But at Inspired Investor, where we offer up smart and timely investing articles that educate, motivate and inspire, November holds a special place in our hearts.

Six years ago, November was officially named Financial Literacy Month. The move was meant to help highlight the important role financial literacy plays in an individual's financial well-being.

As the government says, financial literacy is not only important for the financial well-being of an individual, but also for the economy overall. We couldn't agree more.

The theme of Financial Literacy Month 2018, or #FLM2018, is to "Invest in your financial well-being." The sentiment includes how to reduce financial stress by making a budget, having a savings and debt-reduction plan, and understanding financial rights and responsibilities.

With that in mind, we offer you some of our best content aligned to this year's theme.

5 Ways to Conquer Your Investing Fears

When it comes to investing, many fears can hold us back. That includes the fear that investing is just too complicated. What can help? Knowledge. We tackle five common investing fears and how to conquer them.

I Lost My High Profile Job and Here’s How I Rebuilt My Finances

This is a personal tale from a former fashion-publishing executive who lost her job at the age of 49 — just as she hit the peak of her earning power. As the author notes, the "typical" life-stage approach to financial planning can be great, until it doesn't match up with your reality.

10 Essential Lessons for New Investors

And finally, you've chosen to take control of your own investing, but that doesn't mean there won't be some moments of uncertainty. It's natural. For those of you starting out in the world of self-directed investing, or those looking for a refresher, we outline 10 key things new investors should know.

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