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Despite successfully accessing much needed benefits, systemic issues persist

An important aspect of financial empowerment work is ensuring people living on low income can access the benefits they are eligible for with ease. This can often be the “make or break” moment for many Canadians when they receive the much needed income. Small or large, the financial influx is often a relief for those who struggle financially. The value of accessing benefits cannot be understated and in the case of one EBO Financial Education Centre client, that experience has had an incredibly profound impact on her and her family’s life! 

Since October 2018, the Financial Empowerment Network of Nova Scotia (FENNS) has worked to raise the levels of financial empowerment and financial literacy across Nova Scotia. Representing a broad spectrum of public, private and non-profit sector groups, we bring together organizations working to increase financial understanding with organizations whose work is directly affected by that lack of understanding. 

There is no doubt that the ability to leverage innovative and useful tools such as Zoom, smart phones and other video platforms has ensured that during the pandemic, important meetings, relationships and support networks could be maintained. However, in our zeal to embrace technology and its ability to keep us connected we are reminded that, in some cases, this simply cannot replace, nor should it, the experience of being able to connect face-to-face. 

As the baby boomer generation heads into retirement many of them are finding themselves financially unprepared. As a result, many Canadians, including those living on low incomes, are turning to financial coaching programs to help them to achieve financial stability in retirement.