Financial Literacy Education Doesn’t Have to Cost a Cent

Financial literacy education doesn’t have to cost employers a cent
Employers can give their employees the gift of free financial literacy education this Holiday Season

Toronto ON – Not all learning and development has to cost employers money, but in most cases it’s not free. According to a recent report from The Conference Board of Canada spending by companies has dropped 13 per cent since 2008. The report listed that “in 2010, Canadian organizations spent on average just under $690 per employee on Learning & Development.” 1

1 Conference Board of Canada

The Task Force on Financial Literacy highlighted the need for employers to provide employees with the means to learn better money management skills. Employers can give their employees the gift of financial literacy education and no one has to spend a cent.

“With the debt-to-income ratio hovering at 150 per cent Canadians need to learn how to live within their means to reduce the stress associated with these high debt levels,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada, Inc. “To accomplish this Canadians must have access to free education that helps them develop responsible spending habits and focus on saving for their future.”

There are excellent resources on financial literacy that won’t cost organizations a cent. Community outreach seminars are held every day in offices and community centres across the country.

“The audiences I speak with are hungry for information on developing the skills necessary to manage their debt, create a budget and save for their retirement,” says Daniel Chometa, community outreach manager, Consolidated Credit Counseling Services of Canada, Inc. “These seminars don’t cost the employers a penny and by demonstrating they care about their employees, everyone wins.”

Consolidated Credit’s top three seminars in 2010 were Budgeting made easy, All about credit, and Identity theft.

About Consolidated Credit Counseling Services of Canada, Inc.:
Consolidated Credit Counseling Services of Canada, Inc. is a national non-profit credit counselling organization that teaches consumers about personal finance.

Consolidated Credit’s unbiased debt-counselling service offers alternatives to help people get their debts under control. Alongside assisting with consolidating payments, Consolidated Credit experts focus on education and understanding. Strategies include teaching basic but vital concepts such as how to budget, understanding credit and how to manage money.

Consolidated Credit also offers a free web-based budget and debt analysis tool and a plethora of website resources for people interested in learning more about debt and credit on their own, including tips on smart spending, buying a car, taking out a student loan and a survival guide for holiday spending. Its online learning centre offers free personal finance education booklets, financial calculators, resources, tips and suggestions. Also offered is a free iPhone and iPod application, “Budget Tool”, which can be used to manage expenses on-the-go.

Visit www.consolidatedcredit.ca or call the toll-free phone line at 1.800.656.4079.
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For more information or interview requests, please contact:
Ann Dennis, Communications & Public Relations Manager, Consolidated Credit Counseling Services of Canada, Inc.(B) 416.915.7283 ext. 1057 (C) 416.985.1516 or adennis@consolidatedcredit.ca.

Press Inquiries

Shivani Karwal
Media Manager

pr@consolidatedcredit.ca
1-800-656-4120 x 1055