Where should people turn when they want reliable resources to learn about money and how to better manage it?
In 2020, Jonathan Atwin and his partner jumped on the personal finance wagon, teaching themselves all about money and how to manage it better.It started with TikTok videos. Then, the Halifax-based millennial couple turned to recommended personal finance books like "Money Like You Mean It" by Erica Alini and "I Will Teach You To Be Rich" by Ramit Sethi, along with podcasts about similar topics.
Atwin and his partner are among a growing group of young Canadians relying on self teaching when it comes to personal finance, in the absence of financial literacy being taught in their schools and households and with the rise in personal finance content being shared online. “A lot of people try to gatekeep the information that really needs to be helping Canadians,” he said. “That information deserves to be online and available for free and social media provides an excellent platform to post it.”
Getting involved with organizations like Junior Achievement, which teaches students about financial literacy and entrepreneurship, is also worthwhile, said Lichtman. The first is a booklet called Money and Youth and a website with the same namesake, while the second is FinLit 101, an online self-instruction course for high school students that is also available to teachers, parents and others looking to develop personal financial capability.
Rabbior further advises people to check the credibility of anyone offering financial advice and to avoid content from influencers who tell their audiences what kind of financial moves they should be making.Rabbior stressed the importance of investing in yourself and taking the time to improve your financial literacy.
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