Handling our money is a very important skill to ensure a life that is productive, safe, prosperous and satisfying. Money is a limited resource that is needed to meet many needs, and having the skills to manage it well, or knowing where to go for financial troubles can help make these challenges more manageable. Here are some resources that can help with various financial challenges in one’s life.
Budgeting Software and Templates
1. Mint: Mint is a budgeting app that was made by the same company who made Quickbooks and Turbotax. You can purchase the free version, which can help you set up a budget for each category and track it either on your computer or phone. You can even subscribe to email reminders to help you with paying bills on time. https://www.mint.com/
2. Your Bank’s Online Banking App: An underestimated but readily available tool is the online banking website app for your bank. Some have a personal budgeting tool that can help categorize all the financial transactions every month, to help you determine whether you are spending too much on one type of item without realizing it.
Online Resources for Money Management Skills
1. The Financial Diet: This is a website and a YouTube series with content that caters to the young adult population. Content touches on practical but important aspects of being financially responsible such as using apps, automating savings, spending habits on poor quality items or too much restaurant food, and making investing less intimidating. https://thefinancialdiet.com/
2. The Money Project: On their website there are handy tools such as an online calculator, tip sheets, as well as resources to help parents and guardians educate their younger family members about being financially organized. There is also a section on funding one’s education, from scholarship and bursary resources to help with this large but important expense. https://themoneyproject.ca/
Help for when in Debt or Financial Crisis
1. Money Mentors: This program offers confidential services to help with financial issues such as overwhelming debt. They have a unique program called The Orderly Payment of Debts (OPD) which is an established debt consolidation repayment program. They offer help online as well as in their office in Edmonton. The website is https://moneymentors.ca/ and their phone number is 1-888-294-0076.
2. Credit Counseling Centre: This is a non-profit organization that provides both in-person and online services for debt repayment when having trouble paying all your creditors, as well as other services that can help get your finances in order. Their website is https://www.nomoredebts.org/ and the phone number is 1-888-527-8999.
3. You Can Benefit: This website is a one-stop resource to see what types of government subsidies you and your family can qualify for based on your circumstances, family size, etc. https://youcanbenefit.edmonton.ca/home
While this is in no way an exhaustive list, the goal is to encourage seeking information and assistance for any type of challenge, no matter how big or small, how common or not. For any readers who are not directly served by the area where the outlined organizations are listed, it is likely that equivalents are available by searching the topic and adding the name of your location.