What's Your Story?

As both Financial Literacy Month and Financial Planning Week approach, the focus is on money management.  How well do we handle our money?  ABC Life Literacy Canada has put together a financial literacy program called, Money Matters.  This is synchronicity at its best.  The purpose of my blogs is to provide information in an understandable matter for people interested in wanting to learn and improve their money management skills.  So it’s no mere coincidence that I married the two ideas. Peoples’ dreams are as important as money matters which led to the creation of my blog, Money Matters and So Do Your Dreams.

In preparation to facilitate the ABC Financial Literacy program in the upcoming month, I believe this activity below is worthy to be shared with anyone willing to dare to compare.  I would like you to meet Tenzin and Riley.

Tenzin works hard for his money, but runs out of cash before the next paycheque.  He’s not sure where all his money goes.  There’s the cell phone plan, rent, cable and internet, credit cards, and of course, a guy’s got to eat.  He usually grabs a bite at a sandwich place around the corner from his work, or orders take-out.  He uses the bank machine at the corner store close to his place.  There’s always something he needs…and the place is open night and day.

Riley’s good at making money stretch. She knows how much money is coming into the family (income), and exactly where it goes (expenses).  She uses coupons, comparison shops, and makes the family’s meals at home.  She puts a little money aside each month for a “rainy day”, but wishes she could save more.  She’d like to set aside enough by the time her kids grow up to help pay for their education, but isn’t quite sure how to go about it.  One option she wants to learn more about is Registered Education Savings Plans, and the help she can get from the Canadian government to help her savings grow.      

What’s your story?  Do you have more in common with Tenzin or Riley?

What are some things that Riley does that helps her save?

What are some things that Tenzin does that he could change in order to spend less? 

 

• Think of examples of your spending and saving.
• If Tenzin is #1 and Riley #5, what number would you give to yourself?
• Why?

Spends a lot.
Saves no money.



Spends carefully.
Saves for her future

 

                                                                                                                                    
1                               2                               3                             4                               5


By circling the numbers 1 or 2, you are saying your money habits are more like Tenzin’s. By circling the numbers 4 or 5, you are saying your money habits are more like Riley’s.  If you circle the number 3, then you are saying you equally share money habits of both Tenzin and Riley.

Here’s one of many Money Challenges found in ABC Life Literacy’s activity workbook:

 

Start a money journal. Every day for a month, keep track of everything you buy, from groceries to your daily cup of coffee and snacks.  At the end of the month, use your journal to help you make or change your spending plan.

More information about the financial resources offered by ABC Life Literacy can be found by clicking here.  Happy Learning!