Financial Terms to Know
‘Budget by omission’ noun. Meaning: When you refuse to write down or otherwise track your spending. Many scrape by without a budget until creditors come knocking, or they have an emergency and unpleasant realities have to be confronted.
Having a budget will help you to figure out where you are spending your money and where you could cut back. The tricky part is sticking to your budget. Need help with creating a budget you can live with? Check out Money Matters or any of the websites and resources below.
Financial literacy is an essential skill that needs ongoing attention – today’s labour markets dictate that individuals have a high level of financial literacy. If left unchecked, the low numeracy skills in Canada could affect Canada’s ability to compete in the global economy.