MONNAIEMONEY FINANCIAL LITERACY PROJECT

Newsletter My  Priorities!  My  

Future!  

June 21st, 2013

Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth.

The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency.

For the past four years the Carrefour jeunesse-emploi de Côte-des-Neiges and the Jamaican Canadian Community Women’s League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal.

Content

1

2

3

4

MONNAIEMONEY JUNE 2013

2

1

On Monday July 1st 2013 at the Kent Park, the Carrefour

Jeunesse Emploi de Côte-des-Neiges will be hosting

its famous Canada Day BBQ for the kids, youth, adults and seniors of the

Côte-des-Neiges area.

For your entertainment, this festive

community event will feature on stage up to 20 local artists from various

cultural backgrounds, including: Young Soul,

Celebrating our country and unity…

2

Chaos, Emily, Cristine Toca, Balkani, Zina Edwards, Pink

Frog, A Chosen Few, Gedian Fyah & NoBadSound.

Free BBQ burgers and hotdogs will be served from

12pm as well as smoothies as the entire park will be invited to

enjoy the urban music of well known DJ’s: Little Thunder,

James Bond, Parish, Don Smooth, Johnny Black &

DJ20/20.

The event will be an opportunity to eat and drink to

celebrate Canada’s birthday

3

and come together as a community.

If you haven’t made any plans for Canada Day

yet, put the annual Monnaie Money Canada Day BBQ in

your agenda.

We are expecting over 3000 residents to show

up and enjoy this holiday with us. Don’t miss it!

MONNAIEMONEY JUNE 2013

3

 

1

Whether  it  be  your  first  day  on  a  school  campus  or  receiving  it  in  your  mailbox,  you  are  bound  to  get  credit  cards  applications.  Although  it  may  be  tempting  to  

fill  out  and  submit  the  applications,  you  have  to  think  to  yourself,  “Do  I  need  a  credit  card  and  the  responsibilities  

that  goes  along  with  it?”  .    

Depending  on  your  financial  situation,  acquiring  a  credit  

card  can  be  an  asset  or  a  burden.    In  either  case,  it  is  

vital  to  remember  that  having  access  to  a  credit  card  does  not  

translate  into  free  money.  

In  order  to  avoid  the  problems  associated  with  using  credit  cards,  here  are  three  tips  to  consider  to  be  smart  when  it  comes  to  buying  with  plastic  

money.    

Tip  #1:  Know  What  Kind  Of  Consumer  You  Are  

This  tip  is  the  most  essential  piece  of  advice  to  follow  when  

it  comes  to  using  a  credit  card.    If  you  find  yourself  buying  items  out  of  sheer  

2

impulse,  then  you  may  want  to  consider  leaving  the  credit  

card  at  home  until  you  really  need  to  use  it.    If  you  are  more  caution  consumer,  then  you  can  have  the  card  in  your  

wallet  to  use  when  needed  and  if  you  have  money  in  the  bank  

to  pay  your  bill.    

Tip  #2:  Have  Money  In  The  Bank  

 Credit  cards  should  be  used  as  a  convenience  tool  and  not  as  a  

financing  tool  and  thus  you  should  have  money  in  the  bank  to  pay  the  bill  when  it  is  due,  regardless  of  the  amount.    If  you  are  unable  to  pay  the  bill  

in  3  installments  (with  interest),  then  you  should  not  

be  purchasing  the  item.    Remember,  just  paying  

the  minimum  amount  continuously  is  not  sufficient  enough  if  you  want  to  be  a  

smart  credit  card  user.    Consider  using  your  

3

debit  card  instead  since  your  money  from  your  account  

will  be  used  for  the  purchase.    

Tip  #3:  Know  When  You  Will  Be  Using  It  

As  the  world  moves  rapidly  to  cashless  society,  we  are  pushed  to  use  credit  and  

debit  cards.      As  a  result,  we  must  be  careful  about  when  

they  are  used.    Attempt  to  use  it  when  cash  payments  are  

impossible  such  as  buying  on  the  web  or  paying  for  a  

monthly  amount  for  a  service  that  you  deem  essential  such  as  a  cell  phone  bill.    (If  you  are  paying  monthly  for  a  

service  with  your  credit  card,  be  sure  that  the  amount  is  already  allocated  in  your  

budget.)        

For  more  tips,  visit:    http://www.monnaiemoney.com  

 

Credit Card Management: It Is All About Being Smart

MONNAIEMONEY JUNE 2013

4

Canadian Coupon Sites Where to find coupons online…

Save.ca - Anything from bread to peanut butter to detergent, all in one easy to use website. Rabais Extreme - Coupons québécois. BrandSAVER - For only Proctor & Gamble products. Grocery Alerts Canada - Helping Canadians save money on groceries with Canadian coupons and grocery flyer deals. SmartCanucks - Canada's Shopping Bargains, Freebies, Deals, Offers, Flyers, Coupons, and Contests Forum. DealStreet.ca - The largest collection of deals, flyers, coupons and shopping advice and tips in Canada. Valpak - Local coupons and deals, grocery coupons, merchant reviews and more! CouponCraze Canada - Easy for consumers to save money and get the best deals every time they shopdeals every time they shop.

Carrefour Jeunesse-Emploi de Côte-des-Neiges 6555, Côte-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Women’s League of Montreal, Inc. 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5

UPCOMING COMMUNITY EVENT…

Join us for a free barbecue and some financial knowledge!

Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941

From 10 am to 1pm!

DATE: July 1st, 2013