Budgeting and Financial Skills

Budgeting and financial skillsA budget allows consumers to take control of their personal finances and to make the best use of their income in order to meet their needs. Consumers may also wish to develop a range of financial skills to successfully manage their household finances and deal with the financial sector.

Learning More About Budgeting and Financial Skills

The Office of Consumer Affairs (OCA) promotes the interests and protection of Canadian consumers and provides information to help them make informed decisions. The Take Charge of Your Debt section of the OCA website offers information and resources on budgeting and budget counselling. This includes helpful budgeting tools, worksheets and calculators. The ‘My Expenses’ calculator available on the OCA website provides consumers with a calculator which can help them calculate how much their daily, weekly and monthly spending habits cost them.

The Canadian Consumer Handbook provides tips, contacts, and other information for consumers, including information on budget counselling. The Handbook is produced as a partnership by the Consumer Measures Committee, a group of senior federal, provincial, and territorial government consumer affairs officials.

The Financial Consumer Agency of Canada (FCAC) works to protect and inform consumers on financial services. The FCAC offers consumers financial tips and a budgeting worksheet, and calculator. The FCAC and its partners have also developed educational programs and materials to help increase Canadians’ financial and personal money management skills and knowledge.

The Investor Education Fund (IEF), a non-profit organization established by the Ontario Securities Commission, offers a series of fact sheets providing basic information to potential investors. The IEF website also provides information on how consumers can protect their money and how they can spot investment fraud.