4 Ways to Improve Your Financial Literacy in 2023
Donate A Car
If you’re part of a high-income household, tax season can be extremely expensive. Donating a vehicle allows you to give back to your community while getting a tax receipt for the value of an entire car.
Check out our donate page to get the wheels rolling! By donating a vehicle to Homeless Cars you’re supporting:
Community outreach programs.
Food bank facilities that provide meals, takeaway hampers, and mobile services.
Clothing and hygiene product programs.
Employment services.
Detox and safe injection programs and facilities.
Check out our full list of charity partners here.
Create a Budget
All the financial advice in the world won’t have an impact on your finances if you aren’t aware of where your money is going every month. By pinpointing your spending habits, you’ll be able to establish what your wants vs. needs are and identify areas to reduce your spending, thus allocating more money towards your savings goals.
Here’s a list of some of the top budget tools in 2023:
Free Excel templates on Vertex42.
‘It’s Your Money’ Blog. This blog has a great cash flow spreadsheet!
PearBudget Spreadsheets. This software is extremely user-friendly, making it an ideal choice for those who have never created a budget before.
Mint Budget App for smartphones. This app allows you to see all your expenses, income, savings goals, net worth, and credit score in one place.
Listen to Financial Literacy Podcasts
Financial literacy podcasts can help you stay on top of cutting-edge financial strategies as they develop. Most people have listened to a podcast while running errands, working out, or doing housework. By listening to a podcast, you won’t have to set aside additional time throughout the week to expand your financial knowledge.
Here are the top 3 financial independence and financial literacy podcasts:
Choose FI. This podcast covers topics related to financial independence and reaching retirement early–their website also has tools and resources to go along with each episode.
The Personal Finance Podcast. In this podcast, Andrew Giancola from Master Money talks about investments, real-estate, business, and side-hustles.
Afford Anything. This podcast focuses on making smart decisions with money and time, including what habits to implement to achieve your desired lifestyle.
Subscribe to Financial Literacy Newsletters
Getting bite-sized information sent to your email on a weekly, bi-weekly or monthly basis is a simple way to begin your financial literacy journey. Ensure the financial literacy newsletters you subscribe to come from a trusted source.
Check out these financial literacy newsletters:
Smart Strategies. This newsletter provides expert advice on finance, health, and lifestyle.
Your Money Matters. This newsletter is provided by Chartered Professional Accountants Canada.
Financial Literacy Newsletter. This newsletter is provided by the government of Canada.