Financial Wellness Tips

Support your financial health—one step at a time

Improving financial wellness isn’t just about money—it’s about reducing stress, making informed decisions, and creating peace of mind. Here are simple, realistic ways to build your financial well-being:

1. Track Your Spending

• Know where your money is going. Use a spending tracker, app, or even a simple notebook to keep tabs on daily purchases.
• Awareness leads to better choices.

2. Set SMART Financial Goals

• Make your goals Specific, Measurable, Achievable, Relevant, and Time-bound.
• Examples: Pay off $500 in credit card debt in 3 months, or save $50 per paycheck.

3. Tackle High-Interest Debt First

• Focus on paying down credit cards or loans with the highest interest rates.
• Even small extra payments can save you money long-term.

4. Create a Monthly Budget

• Plan how you’ll spend and save before the month begins. Allocate money for needs, wants, and savings.
• Try the 50/30/20 rule: 50% needs, 30% wants, 20% savings/debt repayment.

5. Build an Emergency Fund

• Aim to set aside at least $500–$1,000 to start. This protects you from unexpected expenses.
• Even saving $10/week adds up!

6. Spend Intentionally

• Avoid impulse buys by giving yourself a 24-hour rule before purchasing non-essentials.
• Ask: “Do I need this, or do I just want it right now?”

7. Use Financial Education Tools

• Take advantage of free online tools, courses, and workplace financial wellness programs.
• Knowledge reduces stress and builds confidence.

8. Don’t Go It Alone

• Talk to a financial advisor, use employee benefits, or check out local community financial counselling resources.
• Help is available—and you don’t need to have it all figured out.

Additional Ontario Resources:

• Credit Counselling Society (Free)
  www.nomoredebts.org | 1-888-527-8999
• FCAC (Financial Consumer Agency of Canada)
   www.canada.ca/financial-literacy
• GetSmarterAboutMoney.ca
   Tools, calculators, and education from the Ontario Securities Commission

Financial wellness is part of your whole health. Take small steps. Be consistent. And give yourself grace along the way.