Investing plays an important role in many people’s lives today. Yet, most of us didn’t learn much about it in school. One of the biggest dangers of not knowing enough is that you could invest in something you don’t understand.
Where can I find information about my finances?
Here are several good Canadian websites that provide basic information about financial products and financial decisions. They are not trying to sell you anything.
- Financial Consumer Agency of Canada (FCAC) Protects and educates consumers about credit cards, budgets, and banking.
- Canadian Bankers Association (CBA) Provides information on topics like service fees, credit, paying for a home, saving, interest rates, and investing. From the CBA site, you can link to all of the member banks’ websites, where you’ll find more information and tools.
- YourMoney Network Links you to resources and tools produced by many organizations to help you deal with money matters. The seminar called "YourMoney" helps with topics like budgets, credit, planning for the future, and how to protect your money.
- Credit Canada Helps people to solve their debt problems, with information and services for budgeting, reducing debt, and managing money. Also provides links to other sources of help.
- Canadian Foundation for Economic Education (CFEE) Offers links to other websites and provides a wide range of resources for youth, teachers, and the general public.
- Strategis Includes a number of very useful online tools to help you compare credit card costs, financial account service fees, borrowing costs, spending habits, and so on.
- Investopedia.com Provides information to help you understand investing terms and concepts. Has a special section for beginning investors that includes tutorials on investing basics, stocks, bonds, and mutual funds.
Test your knowledge
Check Your Investment Knowledge - This quiz helps you find out how much you know about investing.
Remember: Choose your information sources with care.
It’s not always easy to find information that is easy to read, and not trying to sell you something. If you’re just starting out, it may be a good idea to work with an adviser. You can ask questions and learn more about the investments you can buy, and how to make good investment decisions.
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.