This year marks the 10th anniversary of Financial Literacy Month. Finance concerns can cause stress and anxiety. Whether you are living paycheque to paycheque or are concerned about setting enough money aside for retirement, the stress can negatively impact your mental health. If this is your experience, you are not alone. According to Canada.ca, almost one-third of Canadians (31%) believe they have too much debt.
What is financial literacy? It’s all about:
- managing your money and debt wisely
- saving for the future
- understanding your financial rights and responsibilities
Worrying about money can be a downward spiral that prevents you from moving forward to a more manageable situation. Below are eight strategies you can use to address your debt, manage your finances, and gain some control back.
Don’t let money consume your thoughts – if money has been consuming your daily thoughts, now is the time to take steps to control your finances and focus on the future!
Get help – Money Mentors is an Alberta-based, non-profit credit counselling, debt consolidation and financial education agency that offers free resources to help you get control of your finances.
Set up monthly auto payments – If you haven’t set up monthly auto payments yet, why not? Take the guesswork out of your monthly payments so you never feel strapped for cash or worried about making payments on time.
Talk to someone about your financial stress – Sometimes life can become overwhelming and your finances can play a big role in that. If you’re struggling to manage everything alone, it’s time to talk to someone about the financial stress you’re experiencing. In addition to Money Mentors, LifeWorks offers confidential counselling they offer financial assessment tools.
Manage your health to build wealth – Stress is a big factor when it comes to declining health, so it’s important to be mindful of how your financial burnout is affecting your physical, mental and emotional wellness. LifeWorks is available to all your concerns including your mental and emotional wellness.
Focus on your financial goals – focus on your financial goals that inspire, excite and motivate you, and remember to reassess them regularly. Live a little – don’t make the mistake of budgeting out fun!For more information, please contact:
Lesley MacKinnon
Manager, Safety
Lesley.Mackinnon@BethanySeniors.com
Or
Site OHS Committee Chair or RepresentativeBe an advocate for mental health. Educate yourself on mental health. Support others struggling with mental health by guiding them to the appropriate resources.LifeWorks supports employee health and well-being.
Bethany employees have access to a wide range of resources such as:
- LifeWorks Blog
- Webinars and Events
- 24/7 Specialist Counselling
Link:
Bethanycaresociety.lifeworks.com
username: bcs
Password: eap
Phone: 1-877-207-8833
Phone App: LifeWorks WorkAngel
Additional resources:
Sun Life
Retirement Readiness Recorded Webinar by The Leslie Group
(Document on Connections)