Financial Literacy

Practical strategies to help take control of your financial future with the nabs community's trusted financial counsellor for more than twelve years, Monique Madan.

Why Financial Literacy?

Studies show that financial health has an oversized impact on an individuals total health, and for those in our community this has become even more difficult to manage, particularly given the additional financial pressures brought on by the pandemic. We have worked with our financial education partner, Monique Madan to bring a comprehensive program of content to our community to educate and inform to ensure that they set up for long term financial success.

As you explore this content on our website, please visit our Financial Learning Hub in our LifeSpeak Library!

Monique Madan

Monique Madan is the Head of Financial Life Strategies at UPotential. They are a leading fee-for-service financial planner dedicated to helping individuals realize their financial goals, and make empowered decisions. Monique has been working in the financial services industry for over 15 years and has acquired a unique and sought-after perspective on personal financial planning. She has been featured as a financial advisor in the Globe and Mail and provided her guidance to the Financial Planning Standards Council (FPSC®) in the development of their current code of ethics and to Moody’s Analytics as a subject matter expert.

Although Monique is accredited as a CERTIFIED FINANCIAL PLANNER® (CFP) professional, a Financial Management Advisor (FMA) and a Chartered Financial Divorce Specialist (CFDS), her “back to basics” approach to financial planning is refreshing, personal and produces results that make a difference. Whether in personal one-on-one meetings with clients, or workplace seminars, Monique’s humorous, approachable and caring nature encourages a supportive experience while offering a no-nonsense and results-driven approach to personal finance.

Most Recent Sessions

Financial Stability in Inflationary Times

Inflation is often predictable. After all, many Canadians saved their pandemic stimulus funds and money doesn’t tend to remain idle in bank accounts for very long. With gradual easing of pandemic restrictions, Canadians started spending, businesses started hiring and the economic engine chugged along. This should have resulted in a normal increase in inflation. But these are not normal times. Inflation is hitting levels not seen in 40 years which means that an entire generation has never had to deal with the pace of price increases that we face today.

Topics Included:

Adjusting your budget to accommodate inflation
Prioritizing debt repayment
Investing in an inflationary environment

Session recorded on September 13th, 2022 @ 1:00PM EST

Taxes, RRSP’s and Keeping More of What you Earn

Tax preparation season will soon be upon us. For those of you who need a refresher on tax preparation and planning, Monique will soon be updating and re-releasing her popular “Keep More of What You Earn” and “(Not So Well Know) RRSP Strategies” webinars.

Topics Included:

Inflation and other ways your life costs more today
Home (un)affordability
Navigating looming interest rate hikes

Session recorded on February 15th, 2022 @ 1:00PM EST

Previous Sessions

(Not So Well Known) RRSP Strategies

RRSP contributions are one of the most-worthwhile tax planning strategies available to Canadians. As you may know, contributions reduce your taxable income for the year; yielding a refund of the taxes that were withheld at source. Sounds simple, and it is, but there are a few strategies that can make this great strategy even more powerful!

Keep More of What You Earn

Instead of thinking of taxes as one of the two certainties in life, consider it as a controllable expense. This informational seminar is sure to provide you with a myriad of easy-to-implement strategies.

Past Videos

Monique has made much of her older content accessible to the nabs community and can be accessed on her UPotential site here: https://upotential.com/webinar-replays/.

Some of her more popular sessions include:

Real Planning for Real People: It is said that, “the road to hell is paved with good intentions”. In financial planning, there is a distinct disconnect between our intentions and our day-to-day behaviour. Our daily decisions can propel us towards our goals or divert us from them. Some choices might sound obvious: better to save than to spend, right? But some decisions are not so easily made on your own.

Wedding Vows Instead of Money Woes: Financial stressors can affect an otherwise blissful union. In fact, a study produced by Money Magazine found that a whopping 70% of married couples argue about money. Join me for a discussion on how to change our mindsets from independence to inter-dependence and begin to learn how to eliminate these stresses from your marriage.

Articles/Resources

The Financial Well-Being Index

LifeWorks latest quarterly Financial Wellbeing Index™ report shows the financial wellbeing of Canadians declined modestly in Winter 2022 and remains more than two points below the pre-pandemic benchmark. Here are some key findings;

Financial knowledge is lacking in key areas including savings, mortgages, and debt
Nearly one-third of Canadians expect their employer pension plan to be their primary source of retirement income
Two-thirds of Canadians do not know, or are unsure, how much retirement savings they will need to maintain their desired standard of living

Access the Report

Financial Well-Being: What it Means and How to Help

The CFPB’s (Consumer Financial Protection Bureau) research team listened to people around the country talk about what financial well-being means to them. With this input, we can now share the first-ever definition of financial well-being created directly out of the voices of consumers. Consumers can experience financial well-being—or a lack of it—regardless of income. It’s a highly personal state, not fully described by objective financial measures. Instead, well-being is defined as having financial security and financial freedom of choice, in the present and in the future.

LEARN MORE

Ask the Expert Web Chat: Managing Your Money

Shannon Lee Simmons is an award winning Certified Financial Planner, speaker, Chartered Investment Manager, author and founder of the New School of Finance. Her two books, Worry-Free Money and Living Debt-Free are best sellers. She is a personal finance writer for the Globe and Mail as well as CBC Radio’s Metro Morning money columnist and financial expert on The Marilyn Denis Show.

Bob Gavlak is a CERTIFIED FINANCIAL PLANNER™ professional and Wealth Advisor at Strategic Wealth Partners. Bob employs a holistic approach when working with his clients, ensuring that all aspects of an individual’s financial needs are taken care of. He specializes in working with young professionals and pre-retirees through personal interaction, helping to build the ideal plan for navigating a broad range of financial situations.

Ask the Expert Web Chat (Transcript from February 16th, 2022)

Other Resources

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