Build the financial literacy essential for navigating Canadian life, from understanding interest and debt to planning for retirement through RRSPs, TFSAs, and government pensions.
Financial literacy is not optional in modern Canada—it's a survival skill. Yet our education system rarely teaches the practical knowledge needed to manage money effectively. This pillar addresses that gap by providing clear, unbiased information about personal finance in the Canadian context, free from the sales pitches that typically accompany financial "education." You will learn how interest works (both for and against you), how to evaluate debt, how Canadian tax-advantaged accounts function, and how to think about retirement planning at any age. This is not investment advice or a get-rich-quick scheme. It's the foundational knowledge every Canadian needs to make informed financial decisions and avoid common pitfalls that can set you back years or decades.
Each topic is designed to build practical understanding you can apply immediately.
Learn how compound interest works, the difference between simple and compound interest, and why understanding interest is fundamental to every financial decision you'll make.
Understand different types of debt, how credit scores work in Canada, the true cost of borrowing, and strategies for managing and reducing debt effectively.
Learn how RRSPs, TFSAs, RESPs, and FHSAs work, their contribution limits and rules, and how to use them strategically based on your situation.
Understand CPP, OAS, GIS, and how government pensions work alongside personal savings. Learn when you qualify, how benefits are calculated, and how to plan accordingly.
Learn basic investment concepts including risk and return, diversification, asset classes, and how to evaluate investment options without falling for marketing hype.
Understand budgeting, emergency funds, insurance needs, and how to create a financial plan that adapts to different life stages and circumstances.
Practical skills you can apply immediately in your daily life.
Determine the real cost of loans, mortgages, and purchases over time, including interest and opportunity costs.
Critically assess financial products and advice, recognizing conflicts of interest and marketing tactics.
Make informed decisions about RRSP vs. TFSA contributions based on your income, tax bracket, and goals.
Estimate retirement needs, understand government pension entitlements, and create a realistic savings strategy.
Prioritize debt repayment, understand when borrowing makes sense, and avoid debt traps.
Understand bank statements, investment account statements, and credit reports.
The Personal Finance pillar connects directly to your rights as a consumer and employee, and requires understanding of government programs and regulations. Financial decisions are also a prime target for misinformation and manipulation, making this pillar essential context for evaluating claims you encounter online and in marketing.
TrueNorth LMS offers comprehensive education across all five pillars. Purchase this pillar individually or explore the full program.