DNCU - Each One, Teach One: Financial Literacy

How does the Each One, Teach One Financial Literacy Program work?

Delivered as interactive, 60-90 minute sessions, Each One, Teach One workshops provide individuals with the basics of financial decision-making to help build their knowledge, skills, and confidence around their money.

All workshops are delivered by certified Each One Teach One volunteers from Diamond North Credit Union, selected for both skill and passion, with roots in the communities in which they teach.

Teens & Young Adults:
Teenagers can start making some financial decisions independently and take steps to prepare to get their first credit card at age 18. But before they do, you'll want to help them develop critical thinking skills so they can make smart decisions about their money.

Canadian Newcomers:

Assists the Canadian newcomer community to navigate the Canadian banking system and learn how to save and build credit.
The program can also enable people to set financial goals and develop the skills and confidence to reach them.

Income Earners:

Each One Teach One can be a big help for working individuals of any age; looking for more information on investment products, managing debt, preparing to purchase a home, and more!

Seniors:

This program assists seniors in keeping themselves and their personal information safe. New financial and technology enhancements are important to keep up to date with to ensure our seniors are confident in their finances.

1 - INTRODUCTION TO BASIC BANKING
• How to choose the right bank account for your needs
• How to make interest work for you — not against you
• Ways to reduce your account and transaction fees

2 - INTRODUCTION TO BASIC BUDGETING
• What a budget is and why should you create one
• Tips to help you reach your financial goals
• Ideas to help you adjust your spending

3 - WHY FILING TAXES IN CANADA IS A GOOD IDEA
• How income taxes are used
• Why it makes sense to file your tax return, even if you don’t owe money
• Benefits available to lower-income taxpayers in Canada

.4 - CREDIT CARDS AND PREPAID CARDS
• Advantages and disadvantages of credit cards and prepaid cards
• Important things to look for in a prepaid card agreement
• How to figure out the real cost of using credit and prepaid cards

5 - LOANS YOU DON’T WANT
• How to calculate the real cost of ‘bad’ loans
• Why payday loans and pawnshop loans are a terrible option
• The real cost of using credit card cash advances

.6 - LOANS: COSTS AND OBLIGATIONS
• How to decide what kind of loan is best for your needs
• How to understand payment terms and obligations
• How interest is calculated and why it matters

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7 - DEBT SMARTS
• Tips for managing your debt
• When it makes sense to get a consolidation loan
• The difference between consumer proposal and bankruptcy

8 - BUILDING A HEALTHY CREDIT HISTORY
• Why your credit history matters to you
• Simple steps to build a good credit score
• What to do if you need to get yourself out of financial trouble

9 - IDENTITY THEFT AND FRAUD PREVENTION
• How thieves steal and use your personal information
• Tips to keep your personal information safe
•What to do if you’re the victim of fraud or identity theft

10 - RRSPs AND TFSAs
• The benefits of using RRSPs and TFSAs
• How to decide whether to invest in an RRSP, a TFSA or both
• The different kinds of RRSP and TFSA products

11 - INTRODUCTION TO REGISTERED EDUCATION SAVINGS PLANS (RESPs)
• What an RESP is and how they work
• Decide what kind of RESP is best for your family
• Free money to help grow your RESP

.12 - UNDERSTANDING CONTRACTS
• What makes a contract valid
• Things to watch for in a cellphone contract
• Why you should avoid rent-to-own contracts

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13 - SENIORS FINANCIAL ABUSE PREVENTION
• What seniors financial abuse is
• How to recognize if you or a loved one is being taken advantage of
• Advanced planning tools to protect yourself or loved ones

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14 - RENTING VS OWNING A HOME
• Top ten risks of buying a home
• Is renting or buying a smarter decision for you
• Calculating the mortgage amount you qualify for

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15 - COST OF HOME OWNERSHIP
• How to figure out the expenses of owning
• Different types of mortgages
• How to pay the least amount of interest on your mortgage

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16 - FINDING THE RIGHT HOME
• How to identify your current and future housing needs
• Different types of home ownership
• Advantages and risks of building your own home

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17 - GETTING PROFESSIONAL HELP
• How the home buying process works
• How to decide which experts to bring onto your home buying team
• Ballpark fees professionals will charge

How to Schedule a Workshop or Get More Information

We are happy to tell you more about the program and upcoming sessions, or work with you to explore organizing a session.

Each One, Teach One workshops are offered in person, or may also be scheduled virtually.

Sessions are typically 60 - 90 minutes in length, which allows participants lots of time to ask questions and engage with the material.

Each One, Teach One is an approach to providing basic and plain language financial knowledge to our communities.

Our goal in providing this education is to empower individuals to make the right financial decisions for themselves and their families!

How does the Each One, Teach One Financial Literacy Program work?

Who Can Benefit from Each One Teach One Workshops

17 Workshops to choose from:

How to Schedule a Workshop or Get More Information