November is Financial Literacy Month!

November is Financial Literacy Month

Thunder Bay Counselling announces that over 9,200 low-income children in Thunder Bay are eligible for a Canada Learning Bond.

Thunder Bay, Ontario, Friday November 8th, 2019: – November is Financial Literacy Month. To celebrate, Thunder Bay Counselling has announced a series of free community events to help local people access new programs and improve their financial well-being.

According to Thunder Bay Counselling over 9,200 children in Thunder Bay are eligible for a Canada Learning Bond. The Canada Learning Bond is money that the Government of Canada adds to a RESP for eligible children from low‑income families born in 2004 or later.

Says Sheri Fata, Manager of Financial and Child/Youth Services at Thunder Bay Counselling: “We hear more every day about poverty and the financial struggles facing low-income and working families in Thunder Bay. Finding money to save for a child’s education often seems impossible for those who are struggling to make basic ends meet. There is evidence that having even a small amount of money set aside for a child’s post-secondary education and training increases the likelihood that they will pursue options beyond high school.  That’s why we are hosting Education Savings Day.

Education Savings Day is an all-day Canada Learning Bond and RESP information and sign-up event that will take place on November 19th at Thunder Bay Counselling. The event runs from 9AM-8PM and welcomes families and children.

Continues Fata: “We want to support parents, guardians, grandparents, or anyone who is interested, to access the information they need around Registered Education Savings Plans and Canada Learning Bond.  It’s our goal to ensure that as many eligible child ren as possible are enrolled in RESP’s to ensure they receive up to $2,000 for their future education expenses.”

Credit Education Week also takes places during Financial Literacy Month.  Thunder Bay Counselling is hosting two free workshops on Mindfulness & Money at Thunder Bay Public Library. The workshops encourage people to set and achieve a money vision through visualization, reduced anxiety and focus on reaching their financial goals. Thunder Bay Counselling is also launching its first Drop-In Financial Counselling service this month, which will be then offered every Tuesday from 12-4PM.

Studies show that almost 1/3 of us feel stressed about money regularly and ¼ of us are experiencing significant financial hardship. Millennials are particularly worried about money and debt, and consumer debt in this demographic recently hit a new high.

Continues Fata: “The statistics around Canadian debt levels and spending habits are scary, and they get worse year over year. Thunder Bay Counselling is offering free community workshops and Drop-in Financial Counselling to ensure that people of all ages and socio-economic backgrounds have access to impartial and unbiased advice about their financial decisions when they need it. Our financial counsellors are here to help reduce stress and assist people to find options to meet their financial goals.”

The public is invited to attend the following FREE events offered by Thunder Bay Counselling throughout the month of November.

  • Credit Education Week

Mindfulness & Money Workshops – November 12th & 14th

– Tuesday November 12th at Brodie Street Library. 12:00 Noon – 1:30 PM

– Thursday November 14th at Waverly Resource Library. 12: 00 Noon – 2:00 PM

  • Education Savings Day – November 19th

All Day RESP or Canada Learning Bond Information and Sign-Up Event

Thunder Bay Counselling, 544 Winnipeg Avenue

  • Drop-In Financial Counselling – Starting November 26th

Every Tuesday 12:00 Noon – 4:00 PM

Thunder Bay Counselling, 544 Winnipeg Avenue