Toronto Mike

4 Ways Torontonians Can Learn More About Their Finances

Credit: Shopify Partners via Burst

When it comes to money, the more you know, the smarter decisions you’ll make for yourself and your family. Across Toronto, people are struggling to get a grip on their finances as prices on rent, food, and entertainment continue to rise.

Thankfully, there are several ways you can learn about your habits and ways to improve your current situation.

Let’s take a closer look at four productive ways Torontonians can learn more about their finances.

Budget Apps

The ability to access your bank accounts and investments in real-time is a significant advantage for working professionals across Toronto. A budget app is a convenient way to track your spending and saving habits no matter where you are, which is helpful for anyone living in a fast-paced metropolitan city.

Through these apps, you can budget effectively and avoid common mistakes many adults often make — including forgetting to check balances, overspending and overusing credit cards, and neglecting income tax details. With the help of an app, you can securely combine all of your financial tools and continue to monitor your situation.

If you were previously relying on personal loans in Toronto for short-term relief, a budget app is a helpful way to hold yourself accountable and track your spending on the go. Technology has brought convenience into every major area of your lives, why not your finances too?

Finance Books

It may seem old-fashioned, but books are still a significant way to absorb new information. There are several financial books available that are tailored to specific situations — from debt prevention to investing, shopaholic rehabilitation, and even for early retirement.

A finance-based book allows you to dig deeper into your chosen topic since chapters are dedicated to explaining every nuance. Consider this comprehensive way to open your mind to new information and learn how to manage your finances better.

Financial Podcasts

Recently, podcasts have grown in popularity and are a significant source of information and entertainment for Torontonians — from music-based podcasts to topics on crime, sports, television, and more. Even more recently, financial podcasts are creating a new space in the market.

One of the simplest ways to absorb information about money is by listening, and what better way to listen than with an in-depth podcast? You can put on a podcast almost anywhere, whether you’re making dinner or walking your dog. Plus, many of them will have guests who are experts in their field to provide even more profound insight.

Free Educational Resources

Just like any area of your life, education is essential. When you know more and understand specific topics on a deeper level, it can help you make informed decisions. This is particularly true when it comes to money management.Just because you may no longer be in post-secondary school doesn’t mean you should give up learning new things. Take advantage of the free online courses available — this is a convenient way to learn the best practices for financial literacy and help you understand how to manage your income and build your savings long-term.

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About Toronto Mike
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