2018 Financial Literacy Month

Invest in your financial well-being

 

November is National Financial Literacy Month (FLM). During the month of November each year, Human Resources Services supports an educational initiative focused on strengthening the financial literacy of faculty and staff which empowers them to:

 

  • manage money and debt wisely while saving for the future
  • reduce their financial stress; and
  • understand their financial rights and responsibilities.2018 Theme

This year's FLM theme "Invest in your financial well-being" encourages employees to take control of their finances and reduce financial stress by making a budget, having a savings and debt reduction plan, and understanding their financial rights and responsibilities.

Features

Throughout the month, Human Resources will feature weekly sub-themes that bring attention to the benefits of basic money management practices at different stages of life and encourage employees to reduce debt and save for the future. The initiative includes a series of weekly workshops and weekly newsletters.

Planned Activities

** Please note** if you would like to register for a workshop and it is full, please sign up on the waiting list so we can either contact you if a space becomes available or add another session if possible.


Week 1 (Invest in your Financial Well-Being): November 1 - 3

Retirement Planning Course

Date: November 1, 2018
Time: 8:30 a.m. - 4 p.m.
Presenter: Frank Wiginton, Employee Financial Well-Being 

Description:
McMaster has partnered with Employee Financial Well-Being to offer you a retirement planning program that is geared to employees who are preparing for and transitioning into retirement. The full day program will help you build a much clearer personal retirement lifestyle vision, determine how much you will need to achieve that vision, and show you where the money will come from to fund your lifestyle.

More than just answering the question "when can I retire?" this program will help you:

  • understand the various stages of retirement
  • visualize the activities and events of your retirement
  • determine how you will fund your lifestyle
  • show you how to dramatically reduce your taxes
  • teach you how to match specific income to specific expenses
  • show you what you have to do to answer the question "How much do I need to retire?"
  • and so much more.

The program is delivered by an accredited, independent, financial wellness expert that never promotes or sells any products or services.

Register for Retirement Planning Course here.


Week 2 (Have a plan to pay off your debt): November 4-10

Ten Things to Know About Credit or Debt
Date: November 6, 2018
Time: 12 noon - 1 p.m.
Location: MDCL 3022
Presenter: Credit Counselling Society of Canada

Description: 
Join us for an interactive workshop hosted by the Credit Counselling Society. In this workshop you will learn about credit ratings, scores and reports, along with various credit myths. You will also learn about debt repayment options ranging from handling it on your own, to declaring bankruptcy. We will cover these topics without delving into anyone's personal finances. After the workshop, you are welcome to meet with a Credit Counsellor for a free and confidential session to discuss your personal situation.

Register for this workshop here.


Week 3 (Make Informed Decisions): November 11 - 17

See Your Money Differently: Financial Planning Course
Date: November 13 2018
Time: 9 a.m. - 4 p.m.
Presenter: Frank Wiginton, Employee Financial Well-Being

Description: This program is designed to change the way people see money and encourage them to begin looking forward and plan for major life events; buying a house, saving for kids' education, taking that dream vacation, being free from financial stress, and preparing for retirement.

This program will help participants take back control of their finances, empowering them to take action, and reduce their stress about money. No workshop can solve all financial concerns, but See Your Money Differently will give participants the information and resources needed to move forward with better financial habits and a new perspective on money.

Register for See Your Money Differently here.

 

One-on-One Education Meetings for Group RRSP Members 
Date: November 15, 2018
Time: 30 minute meetings between 8:30 a.m. - 4:30 p.m.
Presenter: Desjardins

Description: McMaster Group RRSP members are invited to spend 30 minutes with a Desjardins Education Advisor in a personal one-on-one meeting to review your Group RRSP.  In this session, you will have the opportunity to review your account and investment selections online, ask questions about available investment choices, learn about information and helpful resources available on the Desjardins' participant site, and more! 

Register for One-on-One Education Meetings for Group RRSP Members here.


Week 4 (Start good habits early): November 18 - 24


Planning for Post-Secondary Expenses Workshop

Date: November 22, 2018
Time: 12 noon - 1 p.m.
Location: MDCL 3022
Presenter: Credit Counselling Society of Canada
Description: Post-secondary education is one of the best ways to help your child find meaningful employment in the future. Post-secondary education is also one of the biggest expenses faced by families as their child transitions into adulthood. In this workshop hosted by the Credit Counselling Society, all participants will gain a clear understanding of the questions to ask the student's prospective post-secondary institution, knowledge of the different types of student funding available and tips and tricks to navigate paying for post-secondary.

Register for this workshop here.


Week 5 (Take Control of Your Finances): November 25 - 30

Retirement Ready Workshop - For Pension Plan Members 

Date: November 27, 2018
Time: 10:30 a.m. - 12:30 p.m. 
Location: MDCL 3020
Presenter: Human Resources Services
Description: This workshop is intended for active employees enrolled in a Contributory Pension Plan.  In this two hour workshop, participants will:

  • explore an overview of the Contributory Pension Plans, including how your pension is calculated and the pension options available to you.
  • review key ages and dates in the retirement process.
  • learn about the retirement process, including key steps and important timing leading up to retirement.
  • review highlights of the post-retirement services and benefits.
  • discover strategies for transitioning from the workplace.
  • learn about pre-retirement supports and programs available at McMaster.
  • explore ways to stay connected to McMaster after retirement

Following the session, participants will have access to HR specialists and HR advisors who can answer your specific retirement-related questions.  In addition, participants are welcome to schedule one-on-one advisory meetings after the workshop.

Register for this workshop here.

 

₵ent$ible Celebrations Workshop

Date: November 29, 2018
Time: 12 noon 1 p.m. 
Location: MDCL 3022
Presenter: Credit Counselling Society of Canada
Description:Celebrations and religious or cultural holidays of all kinds are meant to be joyous and a time to gather together. However, weddings, family gatherings and holiday celebrations are expensive and many of us experience the feelings of dread, guilt and frustration when the bills begin to arrive. We wonder how we could have spent all of that money for one celebration. In this workshop hosted by the Credit Counselling Society, you will learn how to set specific goals with the clarity of importance, create a task list to keep you on track, recognize potential obstacles, discover the support available to you, and determine your total costs for the celebration or holiday season. There will be time for participants to share their best practices so you have a clear understanding of how to financially plan for your next celebration.

Register for this workshop here.