Managing Your Finances

Why this course exists

Wealth gaps between Black ethnic communities and the wider Canadian population show up in retirement savings, home ownership and how much people are able to pass on to the next generation. Those gaps are built out of obstacles: debt that compounds, credit that is expensive or unavailable, and advice that assumes a starting position most people do not have.

This course works through those obstacles one at a time, with the goal that every participant leaves with a plan they can act on this month rather than a general understanding of personal finance.

What you will cover

• Building credit - how credit scores are built and repaired
• Why saving matters - emergency funds, goals and the cost of waiting
• Interest rates and credit card debt - how compounding works against you, and how to stop it
• Good debt vs. bad debt - telling the difference before you sign
• Financial confidence - making decisions without fear of getting it wrong
• Money management - budgeting systems that survive a real month
• Financial discipline - building habits that hold under pressure
• Discouraging short-term gratification - the trade-offs of spending now versus later