Financial Literacy Resources
The Saskatchewan Teachers’ Retirement Plan is managed by a team of pension experts, but did you know that there are many online resources to help you manage your own finances? We’ve explored many of the options available and we want to share them with you!
A great place to start is the Financial Consumer Agency of Canada’s Your Financial Toolkit. It’s a free, 12-module course that you can take at your own pace. The modules, which can be completed in any order you choose, cover the following topics:
- Income, expenses and budget
- Banking
- Saving
- Credit and debt management
- Mortgages
- Insurance
- Investing
- Income taxes and contributions
- Income taxes and contributions Quebec
- Retirement and pensions
- Financial planning
- Fraud protection
The modules feature interactive tools to help you figure out your personal circumstances and needs. For example, the Retirement and pensions module has:
- Calculators to estimate your retirement income and budget;
- Videos with helpful tips for retirement saving and planning;
- A retirement planner to help you and your family map out your future; and
- An action plan with steps to track your progress.
It reminds you that it’s never too soon to start preparing for your life after teaching and gives plenty of information on how to plan for a comfortable future.
Watch our future STRP Updates for more information around financial literacy resources and how to improve your financial wellness! You can also visit our new Financial Literacy Resources page.
Financial Tip
Your income-earning years only last one-half to two-thirds of your adult life, so the income you earn today needs to cover the present and your retirement. Consider making a rule that saves a proportion of your income for later. You can save additional money through voluntary contributions to the STRP, or consider using an RRSP, TSFA or other savings vehicle.