According to the Canadian Payroll Association, nearly half of Atlantic Canadians live paycheque to paycheque, and 45 per cent feel overpowered by debt.
November is Financial Literacy Month.
Senior Education Officer with the Financial and Consumer Services Commission Erin King says forming smart habits can be overwhelming, “A budget will help you track how much is coming in and how much money is going out, so you are not overspending each month and feeling strapped and having to resort to taking on debt like credit cards.”
FCNB has launched a Financial Wellness Challenge, and they have workbooks and a free budget template that will help you track your finances.
“We know that when you are stressed by money, it can lead to health problems like high blood pressure, insomnia and depression,” King says.
Participants will also be able to talk to others, who can provide tips, “The Financial Wellness Challenge will help people take charge of their finances. We are offering tips and tools for those who want to learn to take charge of their finances,” King says.
Participants can go to FCNB’s Facebook page for information on how to join the challenge, which will be hosted in a closed group. Throughout the challenge, participants will be provided tips to put them on a path toward financial wellness. The challenge will feature these weekly themes: Debt Detox, the Budget Breather, the Spending Cleanse and the Saving Steppers.
“Reducing financial burden and stress contributes greatly to your overall health and wellness, and we want to encourage New Brunswickers to take control of their finances,” said King. “By participating in our challenge, New Brunswickers can learn the steps to be more financially fit and get encouragement from people with the same goals.”
FCNB will also share tools and resources throughout the month to help New Brunswickers manage their finances, including a free budget template to help track expenses and prioritize spending and the Make It Count! guide for parents and teachers.
