HONEST MONEY TALKS:
FINANCIAL LITERACY LIBRARY
Our library of our Honest Money Talks blog is here for you to sharpen your financial literacy skills even further. Indulge in some self-directed learning by selecting one of the topic categories and continue to grow your knowledge with our expertly written, plain language blogs.
Spooky Situations to Avoid in Your Financial Journey
Embarking on your financial journey can feel like setting sail in uncharted waters. With a myriad of options and paths, it’s easy to feel overwhelmed or make missteps that could lead to choppy seas ahead. But fear not! By being aware of common pitfalls, you can navigate these waters with confidence and reach your fiscal destinations unscathed.
How to Spot a Fraudulent Cheque: Key Signs and Risks
Fraudulent cheques can cause significant financial loss and legal trouble. With the rise of mobile banking, cheque fraud schemes have evolved, and it’s important to know how to identify a fake cheque.
STEPS TO CREATING A POSITIVE MONEY MINDSET
Creating a positive money mindset involves a combination of self-reflection, education, and habit-building. A positive money mindset not only enhances your financial situation but also contributes to your overall quality of life. It empowers you to take control, make informed decisions, and approach financial challenges with confidence.
HOW TO MAKE A STRONG PASSWORD
Creating a strong password is crucial for protecting your online accounts from unauthorized access. If your online accounts get hacked, the consequences can be severe and far-reaching.
A Student’s Guide to Financial Aid
Navigating financial aid in Canada involves understanding a range of options, including federal and provincial programs, scholarships, and loans. Here’s a comprehensive guide to help you through the process:
Beware of Phishing: How to Detect & Respond to Suspicious Emails
In today’s digital age, phishing has become a prevalent threat to online security. Phishing attacks involve fraudulent attempts to obtain sensitive information, such as usernames, passwords, and credit card details, by masquerading as a trustworthy entity in electronic communities.
Financial Planning as a New Canadian
Welcome to the land of opportunities! As you embark on this exciting chapter, getting a firm grip on your finances is as crucial as unpacking your suitcases. Organizing your finances is not just about keeping your dollars and cents in check; it’s about setting the stage for a life of security and possibilities in your new home.
Common Marketplace Scams: How to Stay Vigilant and Protect Yourself
Common Marketplace Scams: How to Stay Vigilant and Protect Yourself July 4, 2024 In today's...
Everything You Need to Know About Debt Consolidation
Debt can be a slippery slope, and before you know it, you’re staring at a mountain of bills with various interest rates and due dates. If this sounds familiar, debt consolidation might just be the lifeline you need to regain your financial footing.
What’s Trending in the Fraud Scene?
In an age where convenience is king, mobile banking has become a staple for many. With just a few taps on your smartphone, you can deposit cheques, transfer funds, and manage your finances on the go. However, amidst this convenience lies a lurking danger: the “For Mobile Deposit Only” cheque scam.
Embracing Neurodiversity: A Path to Financial Well-being
Neurodiversity recognizes the natural variations in how our brains think, learn, and interact with the world. But what does this have to do with financial well-being? Plenty!
Navigating Domestic and International Wire Transfers: Requirements, Regulations & Essentials
In today’s interconnected global economy, the ability to swiftly transfer funds domestically and internationally is crucial for individuals and businesses alike. Whether it’s paying bills, purchasing goods and services, or facilitating transactions across borders, wire transfers have become a cornerstone of modern financial transactions.
Unveiling Sustainable Investing: A Path to a More Diverse Portfolio
Have you ever pondered the impact of your investment dollars? It’s not just about growing wealth; it’s also about nurturing the planet and its inhabitants. Enter sustainable investing, the savvy approach that intertwines ethical values with financial acumen.
THE DEEPENING DANGERS OF DEEPFAKE AI
In recent years, the rise of deepfake technology has sparked widespread concern and fascination.
What You Need to Know About Travel Scams
Scams targeting travelers and tourists are not uncommon. Being aware of common scams can help you avoid falling victim to them.
You’ve opened an RRSP! Now what?
Congratulations on taking a fantastic leap forward by opening a Registered Retirement Savings Plan (RRSP)! This trusty vessel is set to guide you toward the tranquil shores of retirement, but it won’t sail itself. How do you ensure your journey is smooth sailing and not adrift in the open seas?
Steps to start the new year on the right foot – Finance Edition
It’s not just about setting goals; it’s about forging a path that weaves financial wisdom with actionable strategies.
Phishing and Smishing
Many phishing/smishing messages appear to be from a trustworthy and reliable source, like your bank or another business you know. Always be cautious, even if you think you recognize the business that the message is from.
2023 in Review: Finance Edition
As we approach the end of 2023, let’s discuss what happened this year in the Canadian world of finance, what happened with our personal money management, and how we can improve our financial situation in 2024.
Are you under A.T.T.A.C.K?
Social manipulation, in the context of fraud, is the art of manipulating end users into providing personal or confidential information. Personal cyber-attacks come in many forms.
SAVING SMART FOR ALL STAGES OF LIFE
Whether it’s graduating, buying a house, getting married, or retiring after years of a fulfilling career, we need a plan for every stage of life.
THE FOUR CORNERSTONES OF INTERNET SECURITY
While the internet offers incredible opportunities and convenience, it also comes with its fair share of security dangers. These four cornerstones of internet safety can help you keep your information secure online.
Ransomware: You’ve been hacked!!
Ransomware is software designed to deny or restrict access to your device or files until you pay. The general rule is don’t pay the ransom! There is no guarantee you will get access back, and paying increases the likelihood that you will be targeted again.
HOW TO IMPROVE YOUR CREDIT SCORE
Are you an adult living in Canada who wants to improve your credit score? You’re not alone! A good credit score is essential for financial stability and can open doors to opportunities like getting approved for loans or securing housing.
CRIME AND ABUSE AGAINST SENIORS
When it comes to financial crimes, seniors are targeted in almost every way, including aggressive telemarketing, fraudulent home repairs, health or investment schemes, technology schemes, romance or urgent family schemes, just to name a few.
PROTECT YOUR ACCOUNT WHEN BANKING ONLINE
No one is invincible. Awareness and diligence are key factors needed to minimize risk your risk of fraud when banking online.
THE FINANCIAL LITERACY GAP WITH INDIGENOUS COMMUNITIES
Financial literacy (understanding concepts such as budgeting, saving, investing, and understanding credit) is an essential skill that empowers individuals to make informed and responsible financial decisions.
PROTECTING YOURSELF WHEN THERE ARE NO RED FLAGS
Privacy breaches can be a nightmare to deal with and have rippling effects across a person’s life. They are becoming more frequent as technology improves and knowledge spreads.
SPOTTING THE RED FLAGS OF AN ONLINE SCAM
Scammers are becoming smarter, refining their methods and strategies daily to trick people. After working in the same ‘industry’ for so many years, they have discovered some strong swindles few people can detect.
Bank of Canada Rate Hikes Explained
In July of 2023, The Bank of Canada increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.
ON THE WAY TO WEALTH WITH ASSETS
Interested in building wealth? Curious about investments and assets? You’ve come to the right place. If you’re looking to secure your financial future, building a solid portfolio is a crucial step in achieving your goals.
HOW TO PRACTICE GOOD PC HYGIENE
Maintaining good PC hygiene is like building a fortress around your digital world. Here are 10 steps to follow to help keep your sensitive information safe.
THE EVOLUTION OF FRAUD
In an era where technology is advancing at unprecedented speeds, the dark underbelly of fraud is not far behind, constantly morphing into more intricate forms.
POWER OF ATTORNEY (POA) VS JOINT ACCOUNTS
Safely managing finances as you age can be pretty stressful, so let’s break down some options to help better prepare you if the time comes.
STARTING A SMALL BUSINESSThe Dos and Don’ts
YNCU is dedicated to supporting small businesses in our communities and we want to see you succeed in making your lifelong dreams a reality.
INVESTING IN A GIC
Invest with no risk! A Guaranteed Investment Certificate (GIC) is a great option for every type of investor. Available in short and long terms, your original investment is 100% protected from the fluctuations of the market – so you have nothing to lose and everything to gain.
MARCH IS FRAUD PREVENTION MONTH IN CANADA
First and foremost, be wary. Don’t be afraid to hang up the phone, ignore an email or close your internet connection – and please, never be fooled by the offer of a valuable prize in return for a low-cost purchase.
WHY YOU NEED TO START AN RRSP TODAY
Retirement is something we should all be thinking about, regardless of your age or where you are in life. A Registered Retirement Savings Plan (RRSP) is a government approved plan created to help you financially prepare for retirement.
HOW TO TAKE CONTROL OF YOUR HOLIDAY SPENDING
Here are some tips on how to keep control of your finances this holiday season so you aren’t starting the new year with a financial disaster on your hands.
THINGS TO KNOW BEFORE LIVING ON YOUR OWN
Eager to live on your own? Have plans to move out of your parents’ place? At YNCU we know how exciting it is to get your own place and start your own journey.
THINGS TO KNOW BEFORE ENTERING THE HOUSING MARKET
School does not prepare you for the financial risk you take when purchasing a home for the first time. We want to share with you some tips to help you enter the housing market, responsibly.
BE READY FOR THE UNEXPECTED
At YNCU, we understand how unpredictable life can be and we want to help set you up for financial success. Oftentimes, when planning finances, people only think of their savings, retirement, and managing their debt.
INFLATION AND BACK TO SCHOOL
At YNCU, we know back-to-school can cause a lot of stress during this time of inflation. Rising costs have caused people to have to limit their spending and focus on the essentials.
CYBERSECURITY – WAYS TO PROTECT YOURSELF
At YNCU, we know how important it is for you to feel safe with your finances. The threat of cyber-attacks has been on the rise and your finances can be vulnerable online.
DEBUNKING CONTROVERSIAL MONEY MYTHS
At YNCU, we know that you take your finances seriously. You want to protect your financial assets as best as you can. There are a lot of widely held ideas about money that are simply not true.
RATE HIKES/COST OF LIVING – SURVIVAL TIPS FOR MANAGING RAPID PRICE INCREASE AND DEFLATION
Prices have gone up in every aspect from groceries to the skyrocketing price of gas to interest rate hikes. This has caused a lot of alarm and concern for Canadians who are struggling to keep themselves financially stable.
WAYS TO FUND YOUR EDUCATION
At YNCU we know planning how to fund your education is stressful. Everyone’s situation is different, so if you’re looking for alternative ways to pay for school, other than family or government loans, here are some tips that may help.
MAKE YOUR SCHOLARSHIP APPLICATION STAND OUT
Ontarians pursuing post-secondary education can apply for funding from the Ontario Credit Union Foundation. The foundation supports students in academic, vocational, or technical programs at accredited institutions in Canada or abroad.
GUIDE TO PAYING OFF STUDENT LOANS
Graduating from college or university is a very exciting time as you start your careers and begin living independently. But, it can also be a very stressful time as the reality of student loan repayment sinks in.
HOW TO TEACH YOUR KIDS ABOUT MONEY
Providing your kids with a solid sense of financial literacy can help develop their skills and secure a stable financial future in adulthood.
HOW TO MANAGE YOUR MONEY WHILE IN SCHOOL
Going to college or university is an exciting new venture. For many young adults, this means living on their own for the first time, making new friends and maybe learning to balance school and a part-time job for the first time.
CONTROL YOUR FINANCES POST-GRAD
As a recent graduate, you likely have your first job and are making more money than before. This life transition also brings new major goals, such as getting your first car, finding a new apartment, taking the next step with a partner etc.
4 TIPS TO GET OUT OF DEBT
Thirty-eight percent of Canadians say money is the number one source of stress in their lives and debt is a debilitating financial topic over which people feel they have little control.
WOMEN ON A LEVEL PLAYING FIELD WITH MONEY
The gender pay gap in Canada has been an issue for decades. Women across various industries and professional levels have been experiencing economic inequality. According to Statistics Canada, women earn $0.87 for every dollar earned by men.
PROMOTE FINANCIAL EQUALITY
Rabo shares his expertise and helps us understand how to better address financial inequality, promote access to resources and improve financial literacy.
PLANNING TO PURCHASE YOUR FIRST CAR
Is buying your first car something on your vision board? This major purchase is something not to be rushed into. Proper planning, research and advice is needed – ahead of time.
EXPLORING RACIAL INEQUALITY & MONEY
Centuries of institutional and systemic racism have led to a significant disparity between the wealth of white individuals and those who identify as visible minorities.
HOW TO ACHIEVE YOUR FINANCIAL NEW YEAR’S RESOLUTION
Getting in shape, eating healthier, and breaking bad habits. They’re all popular new year’s resolutions. But this year, thanks to the ongoing COVID-19 pandemic, improving our financial health is climbing closer to the top of the list.
HOW TO BUILD A BETTER BUDGET
The start of the year has us all googling ways to improve our money management, determined to start the year out right. Budgeting may seem overwhelming for the uninitiated or restrictive to those who’ve tried before and failed.
HOW YOU CAN SAVE MONEY DURING THE HOLIDAYS
While spending money during the holidays should never be necessary, we understand that everyone wants to be able to balance their financial goals with their holiday spending.
PROTECTING YOURSELF FROM COMMON FINANCIAL SCAMS
Being a victim of financial fraud can be devastating and is on the rise. With fraudsters finding new ways to target vulnerable populations, via phone, email or cybersecurity attacks, we need to be more diligent than ever before when on the lookout for common financial scams.
EMPOWER YOUR FINANCIAL FUTURE WITH A CREDIT UNION
October 20th was Credit Union Day! To honour this day, we wanted to share with you some background on credit unions and how YNCU makes an impact on the lives of our members.
THE TOP FINANCIAL TOOLS OUR ADVISORS ARE THANKFUL FOR THIS YEAR
Managing your money, whether it be saving for a dream vacation, your first home or investing for the future, can seem daunting at first.
YNCUniversity is a financial literacy resource hub and not an accredited educational institution that issues degrees.
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