Financial literacy workshop
Financial Literacy Workshop — Highlights & Resources
On November, I hosted a financial literacy workshop at Erindale Secondary School, attended by 200+ students. Huge thank-you to our speaker Richard Haggins, our teachers, student volunteers, and partners. The event was supported by Capital One and Credit Education Week (CEWC).
We ran through the basics students ask about most: budgeting, saving, credit scores, smart borrowing, and avoiding scams—plus how to get started right now with tools you already have.
What We Covered
- Budgeting basics: needs vs. wants, a simple monthly plan, and the idea of “pay yourself first.”
- Saving habits: emergency funds, automatic transfers, and short- vs. long-term goals.
- Credit scores 101: what lenders look at and how to build credit safely as a student.
- Smart borrowing: how interest works, reading statements, and avoiding high-cost debt.
- Fraud & scams: common red flags, protecting your cards, and what to do if something looks off.
Quick Student Takeaways
- Start a simple budget: list income, fixed costs, and a small weekly spending plan. Adjust monthly.
- Automate savings: schedule a transfer on payday (even $10–$25/week builds momentum).
- Build credit gradually: pay on time, keep balances low relative to your limit, avoid opening lots of new accounts.
- Know your numbers: track due dates, interest rates, and your balance. Set calendar reminders.
- Pause before purchases: use a 24-hour rule for non-essentials. Most impulses fade.
1-Page Student Budget Template
Copy this into your notes or a spreadsheet to get started:
| Category | Planned | Actual | Notes |
|---|---|---|---|
| Income (part-time, scholarships, family) | |||
| Rent / Residence / Housing | |||
| Food / Groceries | |||
| Transport (transit, gas, rides) | |||
| Phone / Internet | |||
| Books / Supplies | |||
| Health / Personal | |||
| Savings / Emergency fund | |||
| Debt payments (credit card, loan) | |||
| Fun / Social | |||
| Leftover (Income − Expenses) |
Tip: Review weekly; move any leftover into savings first.
Credit Score: What Usually Matters
- Payment history: pay on time—automatic payments help.
- Utilization: try to keep card balances well below your limit (many aim for <30%).
- Length of history: older accounts help; avoid closing your only card.
- New credit & mix: too many new applications can hurt; a simple starter card is often enough.
If you think you’ll carry a balance: compare interest rates and avoid high-fee options. Even small monthly interest adds up quickly.
Student Resources (Reputable & Free)
Canada
- Financial Consumer Agency of Canada (FCAC) — tools on budgeting, credit, banking, and fraud.
- GetSmarterAboutMoney (Ontario Securities Commission) — student-friendly explainers and calculators.
- Junior Achievement Canada — programs on budgeting, entrepreneurship, and careers.
United States
- Consumer Financial Protection Bureau (CFPB) — money guides for students and “Money as You Grow.”
- FDIC Money Smart — free financial education modules.
- Next Gen Personal Finance (NGPF) — lessons, calculators, and bite-size skill builders.
Global / General
- MyMoney.gov — foundational topics: earn, save, spend, borrow, protect.
- Investor.gov — calculators (compound interest, fees) and fraud prevention.
- Khan Academy — Personal Finance — short videos on budgeting, credit, taxes, and investing.
Local help: many public libraries offer free access to budgeting workshops and one-on-one money coaching—check your library’s “Programs” page.
Put It Into Action
- Open a no-fee account and set up automatic transfers to savings each payday.
- Use one card for small, planned purchases; pay in full each month to build credit.
- Create your budget (above), then review every Sunday for 10 minutes.
- Bookmark two resources from the list and schedule a 20-minute learning block each week.
Note: This post is for education only—not financial advice. Always check details with your bank or a qualified advisor.
Workshop Gallery
