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Unlocking financial freedom through financial literacy

30 March 2023
Author: Anitha Thillainathan
Unlocking financial freedom through financial literacy

As a society, we often perceive education as a powerful tool that opens a world of opportunities, including a way to overcome financial hardships. Through education, individuals can secure employment and improve their standard of living. While education can serve as a steppingstone towards financial stability, it is important to recognize that without the right resources, it can be difficult to attain financial independence.

Meet Jessica

Jessica Armstrong has over a decade of college and university education with various certificates and diplomas to show for it. Despite her academic accomplishments, Jessica has encountered several financial challenges in her life. She currently relies on the disability benefit payments (ODSP) from her boyfriend to make ends meet. Unfortunately, the benefits alone are not enough to support her basic needs. As a result, Jessica was faced with the overwhelming task of budgeting her finances efficiently to secure financial stability.

Finding the key and making the most out of your money

In her journey to improve her financial well-being, Jessica came across Making the most of your money course developed by Prosper Canada in partnership with Ontario Securities Commission. The easy-to-use, accessible, online course helps people living on a low income organize their finances and explore ways to increase the amount of money coming in and reduce what is going out. This interactive course has activities, videos, handouts, and resources that are also downloadable. Making the most of your money course covers a range of topics from accessing benefits, finding ways to save, protecting oneself from fraud and much more. Jessica felt the course was relevant to her needs as it provided her with practical tips on how to budget her money, like using cash as a method of payment instead of debit. She gained some important skills around money management, and admits the course provides valuable information on how to budget money and offers money-saving tips that can be applied to daily life. She found the course to be beneficial to her and believes it would be even more beneficial to others who are struggling with their finances.
Managing money can be a challenge to anyone, despite their educational background. However, there are resources to improve one’s financial literacy. Taking a course on money management like Making the most of your money can be a great way to becoming financially independent. According to Jessica,  the course is valuable, and recommends it to others who may be facing similar financial challenges. By applying the skills and tips learned in the course, you can better manage your budget, save money, and achieve your financial goals as well.


Anitha Thillainathan is a Senior Officer, Marketing and Communications at Prosper Canada.

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