Banking 101 & Financial Literacy Programs

Several research studies have confirmed the importance and effectiveness of financial literacy programs for survivors of domestic violence, and in particular, Economic Abuse. As victim-survivors often feel that their powers and independence have been limited or taken away, financial empowerment is an important step to regaining confidence and acquiring knowledge to manage their own financial situation (Postmus, Plummer et al., 2013).

While taking financial literacy training might sound daunting, there are several resources available to either refer victim-survivors to look into for themselves, or options for assistance in facilitating financial literacy courses at shelters. Here are some examples:

TROVE (Prosper Canada)

Trove is a bilingual online portal developed by the national charity, Prosper Canada, that provides free financial tools, worksheets, and educational resources tailored specifically to financially vulnerable Canadians. Tools cover budgeting and saving, tax filing, and government benefits as well as tackling debt. It also includes further links to “My Money in Canada” on Canada’s financial system and money management habits, a benefits finder as well as a free Registered Disability Savings Plan (RDSP) calculator. Go to Trove.

In addition, Prosper Canada offers an extensive range of resources on its “Learning Hub” including courses, toolkits, and webinars for “practitioners, policy-makers, funders, and advocates working to advance the field of financial empowerment.” Prosper Canada Learning Hub

MONEY MATTERS – FINANCIAL LITERACY COURSES (ABC Life Literacy Canada) 

Money Matters is a free introductory financial literacy program for adult learners that has been developed by ABC Life Literacy Canada in partnership with the Government of Canada and TD Bank Group and was designed by literacy practitioners.

Money Matters offers free resources on basic financial literacy training with specific courses in various languages, people with diverse abilities, and Indigenous Peoples. While information material is available online and to download, Money Matters also facilitates workshops that organizations such as shelters can host themselves with training available in partnership with TD Bank Group volunteer tutors. This might be interesting for any shelter wishing to offer group courses on financial literacy to its clients.

Free available resources

More information on hosting a workshop

CCS RESOURCE SECTION (Credit Counseling Society)

The Credit Counseling Society (CCS)  is a free credit counselling organization that also offers various resources on budgeting, credit, and online financial literacy webinars (possibility to join anonymously) but also sample letters to help communicate with creditors. Find out more 

In addition, CCS also provides webinars and Professional Development and Continuing Education for professionals and practitioners to gain a better understanding of their own financial situation and that of clients. Some of the courses also qualify for Continuing Education Units (CEUs), Certified Credit Professional (CCP) etc. Find out more  

FINANCIAL TOOLKIT (Financial Consumer Agency of Canada)

FCAC offers a “comprehensive learning program that provides basic information and tools to help adults manage their personal finances and gain the confidence they need to make better financial decisions” including 12 modules and an additional trainer’s toolkit on how to potentially teach the content as course sessions.

FCAC Financial Toolkit

Trainer’s toolkit

TRAUMA OF MONEY

Trauma of Money offers an accredited course for individuals to heal their relationship with money as well as professionals who want to better assist clients in overcoming trauma and creating financial security.

While the online course is not free, Trauma of Money makes scholarships available for those who are economically impacted. 

Trauma of Money 

CCFWE FINANCIAL LITERACY PROGRAM

CCFWE’s TD’s Ready Commitment Initiative is the first Canadian financial literacy training program specifically tailored for the realities and challenges of victim-survivors of Economic Abuse. Please find further updates on the program on CCFWE’s website, or for further information contact us info@ccfwe.org

YMCA’s Financial Empowerment and Well Being Programs (FEWP)

Offers free support to help you manage financial challenges like budgeting, saving, debt, taxes, and credit issues through two main options:

• Resources: Build financial literacy with videos, self-paced modules, a financial playbook, strategy templates, and seasonal tax clinics (March–April).
• Workshops: Get personalized guidance through in-person or virtual sessions if you meet program eligibility and register.

Battered Women Support Services (BWSS) Economic Empowerment Strategies for Women

Is designed to assist women, particularly survivors of abuse,  in understanding and improving their financial lives. It covers topics from safety planning around financial abuse, through financial fundamentals such as budgeting, saving, investing, to building long-term financial foundations.