Cette capsule a été produite pour la campagne de promotion du site jeunesse www.tesaffaires.com. Le comédien Philippe Laprise nous raconte les mésaventures financières de son ami Alex. Mauvaise gestion des revenus et des dépenses, mauvaise utilisation du crédit, tout pour s’enfoncer dans les problèmes financiers. Telle est la mésaventure d’Alex. Com. Utilisez les calculateurs sur tesaffaires
It is quiz time. Time to see whether you were paying attention to our blog posts discussing financial literacy matters. To take the quiz, you will need a pen or pencil, a promise that you will not cheat by peeking at the answers at the end of the question. Good luck to all.
Q1. Which one of the following is NOT describe a credit union?
a) Members of a credit union are the owners of the financial institution
b) Credit unions offer low interest loans
c) Credit unions only offer sources of credit and low interest loans to its members
d) As compared to regular banks, they are very few credit unions that you walk into to perform regular transactions
A1. c) Credit unions offer a wide range of financial services going beyond credit and low interest loans. Some of the common services to banks include: savings and chequing accounts, online banking, mortgages and financial advice.
Q2. What are the best two ways to avoid paying additional fees when making a withdrawal from your bank account via an automated banking machine?
a) Withdraw the amount of money that you will need for fixed amount of time
b) Use your credit card instead of cash to pay for items
c) Withdraw your money from a machine that only belong to your bank
d) Ask to be exempted from the fees charged by the bank
A2. a) and c) Although all four options are viable to avoid paying additional fees, taking out the money you need for a fixed period and only from your bank’s machine are the best choices. Instead of being charged each time at your bank’s machine, withdraw money that will last you for a fair amount of time.
Q3. The major advantage of using your debit card instead of your credit card when it comes to shopping on a frequent basis:
a) You can spend unlimited amount of money without being charged interest
b) You can be exempt from user fees
c) Debit cards cannot be easily cloned and used by others
d) You can track your spending easier for budget purposes
A3. d) Each time that you select to use your debit card, your bank records when, where and how much money was spent. By accessing your record online or via your monthly statement, you see where your money is going and if you can control your spending.
Q4. Ronald has just received a gift of $1000 from his grandparents. He has an outstanding credit card debt of $200 at 19.99% and has borrowed against his line of credit at the bank where he owes $850 at 17.99%. Before depositing the sum of money, his grandmother insists that the gift should be a contribution to buying a pre-used car for him to drive to work. What is the best option for Ronald to do with his gift?
a) Honour his grandmother’s wishes and buy the car
b) Place $1000 in a high yield savings account
c) Pay off his credit card debt
d) Repay the money he borrowed from the line of credit
Q5. Upon checking your email, you notice that you have received a reoccurring message from your bank indicating that you have $250 waiting to be transferred into your chequing account. To satisfy your curiosity, you decide to open one of the emails where you find a message asking you to visit a website where you need to provide your bank account information to ensure that the money is deposited into your account. What do you do next?
a) Close and delete the email
b) Visit the website and provide the required information to complete the transfer
c) Forward the email to friends and family who use the same bank
d) Report that you are receiving the emails to your bank and the police
A5. d) A bank will never email you to inform you that money is waiting to be transferred into any account. As a result, you should report to your bank and the police that you are a target of bank fraud.
Q6. Carol has started her career in marketing and earns $40,000 per year. Her plan is to start saving for her retirement; however, she would like to have money available in case of emergencies. Which of the following is the safest and convenient place for her savings?
a) Tax Free Savings Account (TFSA)
b) Mutual Funds
c) Registered Retirement Savings Account (RRSP)
d) At home in a glass jar
A6. a) A TFSA fits the needs of Carol because it allows her money to grow over time in a relatively safe investment where money can be withdrawn at any time without incurring a penalty. Selecting a RRSP restricts her from pulling out any cash unless she wishes to pay tax on income earned on the investment in the account.
Q7. In the event that there is a financial crisis in Canada and all banks fall into bankruptcy, how much of a $250,000 savings account is insured?
A7. c) Regardless of how much money that you have in your savings accounts, The Canada Deposit Insurance Corporation, a Canadian federal Crown corporation, insures Canadians’ deposits held at Canadian banks up to $100,000 in case of a bank failure.
Q8. The primary purpose of the Bank of Canada is:
a) To insure that all bank machine are well stocked with money
b) To be last option for Canadians to obtain a loan when other banks do not extent credit and loans
c) To be only issuer of paper money in Canada
d) To offer and insure all mortgages for Canadians
A8. c) As an user of the Canadian banking system, you will never have direct contact with the Bank of Canada. Some of the bank’s main responsibilities are: issuing paper money in Canada, setting monetary policy and being the central bank for the federal government.
L’équipe Monnaie Money était à Vancouver la semaine dernière à la Conférence nationale sur la littératie financière.
« Collaborer pour améliorer la littératie financière »
Quelques sujets abordés lors de la conférence :
- Façons de faire progresser la question des indicateurs de littératie financière
- Résultats préliminaires de la deuxième Enquête canadienne sur les capacités financières
- Exemples de collaboration réussie
- Pratiques exemplaires en matière d’évaluation de programmes
- Lancement d’une ressource nationale pour la littératie financière
- Études de cas relatives à l’évolution du comportement financier
Ce fut une excellente occasion de réseauter avec d’autres organisations dans le secteur de la littératie financière.
Des discussions de groupes ont été organisées par le Comité directeur national pour faire des recommandations sur la littératie financière. Nous avons vraiment apprécié la présentation des jeunes de l’Enactus Collège Saint-Lawrence, Manage Your Money, ainsi que les différents sujets sur le comportement financier qui ont été apporté sur le raisonnement derrière certaines décisions avec l’argent.
Bravo à l’ Agence de la consommation en matière financière du Canada et à tous les individus et organismes concernés.
La littératie financière au Canada est certainement dans la bonne direction.
The Monnaie Money team was out west in Vancouver last week for the National Conference on Financial Literacy. The theme of the conference was “Strengthening Financial Literacy Through Collaboration”.
Conference topics included:
1) Exploring ways to move the dial on financial literacy indicators
2) Preliminary results from “The 2nd Canadian Financial Capability Survey“
3) Examples of successful collaboration
4) Best practices in program evaluation
5) The launch of The National Financial Literacy Resource
6) Case studies in changing financial behaviour
It was a great opportunity to network with other organizations in the financial literacy industry. Focus groups were held to make recommendations to the National Financial Literacy Steering Committee.
We really enjoyed the presentation from the youth the Enactus St. Lawrence College, “Manage Your Money Project”. In addition, we were interested in the various topics on financial behaviour which focused on why we make certain decisions when it comes to money. Bravo to the Financial Consumer Agency of Canada and to all the individual and agencies involved.
Financial Literacy in Canada is definitely heading in the right direction.
November is Financial Literacy Month in Canada. Several organizations across the country are holding various events to promote the importance of financial literacy skills. From contests to workshops, learning the basic money management skills and being aware of threats to one’s wallet in terms of fraud schemes and scams are essential. Becoming a better money manager is an investment that you can reap the benefits in the short and long term if you are willing to acquire the necessary skills and remaining informed.
Below are 8 results that can be seen when one selects to become financial literate.
1. Know where your money is coming and going
By creating a monthly budget, you can track your cash flow. From your pay cheque or pension benefits to groceries expenses, your budget will tell you the level of surplus or debt that you must manage. This financial literacy skill will assist you in making decisions such as how much you should put aside in a savings account or reducing expenses to avoid going into further debt.
2. Control your spending
Using a credit card to go shopping can be dangerous. Credit cards can prompt you to spend money that may not have in the bank. By being aware of your access to credit and interest rates, you can control your spending knowing the short and long term consequences of going into debt. Instead of using a credit card, you may select to use your debit card or cash to shop.
3. Prepare for your financial future
Do you have plans to buy a house? Would you like to retire comfortably? The financial literacy skill of long term saving is essential. Knowing how much to save per month and types of investment tools that are available to you is a responsibility that must be taken seriously and requires discipline. For young individuals, financial literacy will instruct you to start saving and investing early to benefit from compound interest over a long period time. Middle-age individuals will have the ability to shelter their money from taxes and retired individuals should be able to reduce debt levels and better manage funds given increasing household expenses.
4. Manage your debt
One of the major needs for financial literacy is dealing with debt. From avoiding the use of debt (i.e., credit cards, personal loans, etc.) to understanding interest payments, being able to deal with debt can make life easier from a personal finance point of view.
5. Increase your awareness of potential fraud
Fraud prevention is an aspect of financial literacy. In order to protect yourself from financial fraud, it is wise to be aware of the common and prevailing approaches that fraudsters gain access to your personal and banking information. March is Fraud Prevention Month, when the Competition Bureau of Canada executes their campaign to share tips to avoid fraud of all kinds.
6. Have your money work for you
Want to have your money work for you? If so, then it is time to become more informed on the different types of investment avenues for your needs. By understanding the different options and respective their benefits and pitfalls, you can decide where to put your money to watch it grow over time.
7. How to best use credit
We all have access to credit in different forms such as credit cards, personal loans and mortgages which entails incurring debt. To avoid the difficulties that are linked to going to debt via using credit, it is best to have the skills to know the best situations to use credit and sound strategies to pay back money with the least amount of interest.
8. Understand how banks work
The majority of your money is probably is in a bank; however, do you know how your bank manages your deposits? What type of products and services that you can benefit from to help to your money to grow? By becoming more financial literate, you will be able to compare difference banks in terms of what they offer and decide to move your money to another financial institution to meet your financial goals.
Acquiring the basic financial literacy skills to avoid common money management problems is an ongoing process. Although you can gather as much information as you can from different sources and organizations, it is your responsibility to apply the practical tips to improve your financial situation for the future.
Il existe de nombreux plans ou régimes (et leurs acronymes) pour vous aider à investir et mettre un peu d’argent de côté pour votre retraite. Laissez-nous vous présenter quelques uns de ces régimes.
Have you ever received a text regarding a chance of winning a cruise? Although we all wish that it would be a dream come true, it could be the beginning of a nightmare. According to the verified mobile phone community, Truecaller, approximately US$8.6 billion were solicited from Americans via phone scams in 2013. Although you may say to yourself “How could people fall for text fraud?”, the truth is that some individuals are not aware of how current fraud artists operate using a variety of methods and communication tools.
Below lists the different types of scams and what you should look out for when you are approached by fraudsters.
Identity scams begin by fraudsters obtaining personal information via the internet or telephone, or via fax or regular mail. As a result, be particularly wary of unsolicited e-mails, texts, telephone calls or mail attempting to extract personal or financial information from you. When using a debit or credit card, it is safer to swipe your cards yourself than it is to allow a cashier to do it for you. In circumstances that you are asked to hand over the card, be sure that you never lose sight of it.
Debit Card Fraud
If you select to use a debit card for the majority of your purchases, then you are a target of debit card fraud. Signs of how fraudsters may execute their scam on you are: asking you if they can swipe the card on your behalf, having independent bank machines in usual and dark places, watching you punching in your personal identification number (PIN) into the payment terminal. If you have a lost or someone has stolen you card, be sure to report it to your bank.
Credit Card Fraud
Whether it is buying a shirt at a small clothing boutique or a CD from a music group’s website with a credit card, you may be susceptible a scam by having your information stolen. To prevent this unfortunate circumstance from happening, be sure to: look for small charges to your card, avoid buying items on websites that are not secured. (Please Note: Secure websites have their addresses start with ‘https//:’ once you have selected to log onto the site). If you choose to use the credit card only in stores, be aware of i) individuals that will ask you to reconfirm the number and ii) the return of your card. Some fraudsters will attempt to swap your card with a dummy card once they have the information to use the card elsewhere.
E-mail Fraud / Phishing
If you have an email account and subscribe to electronic newsletters, chances are that your address will be obtained by e-mail fraudsters or “phisers”. Phisers attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money) by masquerading as a trustworthy entity in an e-mail. The e-mail will have an urgent request for personal or financial information. It is important to remember that financial institutions and credit card companies normally will not use e-mail to ask for or confirm existing client’s information.
Mass marketing scams can be seen in various forms, however; individuals are more prone to be victims of charity, prize pitch and telemarketing fraud.
Although there are various worthy charities to donate to, be aware of individuals that claim to represent a charity and is not able to provide verifiable identification and will pressure you into donating money. Legitimate fund-raisers will not push you to give on the spot.
Prize pitch scams are highly effective since everyone enjoys winning a prize, however, it comes with a catch. If you need to provide personal information to claim the prize, think twice. It may be too good to be true.
Telemarketing scams are the most efficient frauds to execute. To identify whether the offer that is being made is legitimate, ask the individual on the other end of phone to provide all the information that is available on the company, especially contact information for two managers. If the individual is unable to reply to request, end the conversation and clearly indicate that you do not wish to be contacted again.
Being a victim of a scam is very unpleasant. Not only do scams leave you with less money in your bank account, they will strip you of your dignity.
The best way to prevent the two from happening is to inform yourself of all the proven and successful scams that are executed on and off the internet.
ms that are executed on and off the internet.
A une dette à la consommation a grimpé hors de contrôle? Ou peut-être vous êtes juste construisez crédit pour la première fois? Apprenez comment vous pouvez commencer à augmenter votre pointage de crédit nettement aujourd’hui, gagner la paix de l’esprit et de pouvoir de négociation
Source: Peoples Trust
As an enrolled student, you should be on the lookout for different banks that offer discounted fees for their services. Discounted fees will permit you to keep more money in your pocket while obtain the same level of services as a regular client. A prime example is banks that offer specific accounts and services to students for the years that are spent in school.
With the various banks that a student can choose from, it is important to understand the basic accounts and services which will influence the selection of the financial institution that you will place your money in for the semesters to come.
1. Monthly Bank Account Fees
All banks will offer students the ability to open an account where there are not any fees charged for basic banking services. Services may include: cheques, withdrawals (including automated banking machines), transfers, pre-authorized payments, bill payments and debit purchases. These are usually known as “unlimited debit transactions”. Check with your respective bank to see what specific fees are exempted in their offer to students.
2. Monthly Recordkeeping Fees
To maintain an accurate record of your bank account, banks may charge fees for specific recordkeeping services. Banks will assign a fee to provide paper statements, cheque images returns and passbook updates. Fees can range from $1.50 to $2.50 per month for each service. If you are already and a good manager of money and tracking your deposits and withdrawals, you may not have to use the recordkeeping services offered by your bank.
3. Online & Mobile Banking
Via a smartphone, tablet or laptop computer, banks should offer students the ability to bank online. Using these tools, it will allow you to conduct transactions at your own convenience. For example, the majority of the main banks in Canada offer you the option of making a deposit by just asking a picture of your cheque with your mobile phone. Access to online and mobile banking is free.
4. Rewards Programs
To encourage client loyalty, some banks will prompt students to enroll in rewards programs. By participating in such programs, you can eligible for discounts for anything from movies to music downloads. If such rewards programs interest you, be sure to read the fine print on the details on the offer and ask questions to your local branch manager.
5. Savings Programs
For students that have trouble saving on a regular basis, banks will assist in establishing automatic withdraw-deposit transactions. This can be very helpful when you are planning your future years in university when the cost of tuition and books are most likely to rise.
6. Access To Credit Cards
Although using credit cards maybe costly in the hands of students who may be tempted impulse shop, some banks offer to access credit cards with customized budget alerts to better manage money and promote wise spending. It is important to note that some banks will grant credit cards with a “no income” requirement which may be dangerous for students who may not have enough funds to pay credit charges when they are due. As a result, it is your responsibility to use the credit card for the purposes of your education and not your wardrobe or social life.
7. Access To A Line of Credit
To ensure that you have a sufficient amount of funds to pay your tuition, banks will offer students a line of credit to use to cover costs. A line of credit is a source of money from a bank or a level of government that must be paid back with interest. Eligible students can access this type of financing with some conditions and restrictions. Speak to a representative at your bank for more information on obtaining a line of credit for tuition purposes.
8. Loan Programs
When students are not able to obtain a bursary or a loan from the government for tuition and books, banks have loan programs which should be considered as an alternative. Depending on your needs, you can get a loan which best fit your financial status. If one bank does not offer what you are looking for, visit another bank. Do not be afraid to negotiate the best deal possible.
If you are student and in need of financial services while attending school, it is
it is recommended that you conduct research regarding what each bank offers and how you can benefit from different accounts and services for your academic future.
recommended that you conduct research regarding what each bank offers and how you can benefit from different accounts and services for your academic future.
Avez-vous pensé à un thème pour votre soumission pour le concours vidéo de l’éducation financière 2014?
Vous avez seulement à quelques semaines pour filmer, monter et envoyer la vidéo avant le 14 novembre 2014.
Participer comme un individu, un groupe ou à travers votre Carrefour jeunesse-emploi locale
- Une tablette numérique et $500 dollars en argent
- Un lap top
- Caméras vidéos,
- Caméras photos digitales
Besoin de quelques exemples pour commencer à générer des idées pour votre vidéo, consultez la poste Monnaie Money sur YouTube.
Ci-dessous, vous trouverez la vidéo gagnante pour le concours vidéo sur la littératie financière 2013.
Lorsque vous avez fini une vidéo à présenter, vous pouvez l’envoyer à Monnaie Money par:
- YouTube ou Vimeo
- Un DVD
- Par courrier
Les gagnants seront annoncés le 28 novembre 2014 dans le cadre du mois littératie financière au Canada.
Les citoyens du Québec âgés de 13 à 35 sont admissibles à participer au concours.
Pour de plus amples renseignements sur les règlements du concours, s’il vous plaît lire: «règles et règlements du concours.».
Pour plus d’informations, visitez le site Web de Monnaie Money ou composez le (514) 342-5678 ext. 228.
Un merci tout spécial va aux commanditaires suivants:
- Autorité des marchés financiers
- La Fondation J. Armand Bombardier
- Standard Life
- Fondation du Grand Montréal
- MONEY MART l’éducation des consommateurs
Ne pas attendre pour entrer …