National Adult Literacy Database

Mistakes Canadians make when managing their finances

Series: Financial Literacy Week 2011 - Videos

Authors: ABC Life Literacy Canada

Collection: Learning Materials

This brief video is one of a series featuring Gail Vaz-Oxlade, a financial writer and television personality, who discusses a variety of money-related issues.

In this video, she explains that the biggest money mistake is not making a plan and the first step in making a plan is figuring out where the money is going now.

For example, a family might decide that they will spend $400 a month on groceries. But if the family currently spends $800 a month on food, then cutting the food bill in half may be an unrealistic goal.

The videos were prepared by ABC Life Literacy Canada to mark the first Financial Literacy Week, observed from October 30 to November 5, 2011.

Added: 2011-11-04

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