How can you turn a failure to launch financially into a launch for success? The answer is simple. Join the party beginning November 10th for events, activities, and special guests celebrating Credit Education Week Canada (CEWC), now in its eighth year. Toronto as usual serves as the main hub for CEWC, though there is plenty going on at locations across the land – presentations, financial planning workshops, community gatherings, all kinds of stuff. It’s all happening in the midst of Credit Education Month. I encourage everyone to come aboard.
“Failure to Launch” is this year’s theme for CEWC. It was inspired by a popular movie of the same title from not so many years ago. Maybe you’ve seen the flic. It’s a romantic comedy about a 30-something mama’s boy named Tripp (played by Matthew McConaughey) who pairs up with a woman named Paula (Sex and the City’s Sarah Jessica Parker) for a humorous look at a growing trend – young adults who end up living at home with the parents well beyond what’s considered the normal time to leave the nest. Through lots of plot twists, Tripp the slacker ends up being tricked into leaving his parents’ place. But I suggest other less complicated ways for young adults to get out on their own. Discover some financial planning pathways through CEWC.
Engaging media stars and brainy money experts will be on hand to offer advice and share great stories. The CEWC Dinner Gala on November 13th at Toronto’s Royal York Hotel will feature keynote speaker Dianne Buckner, host of TV’s Dragons’ Den. As a respected journalist and TV producer – and as one of Canada’s most sought-after speakers – Dianne promises to entertain and enlighten with plenty of interesting, funny anecdotes about personal finance. Once again this year, another valued journalist - Pat Foran of CTV – will serve as the gala’s master of ceremonies. Top political and financial players, too, will join in, as will young winners of the CEWC Grade 12 Student Essay Writing Contest, with scholarships from $1,000 to $5,000 to be presented. It’s always a joy to hear the top student prizewinner recite his or her essay at the gala. Each year, youngsters are challenged to write about the dumbest thing they’ve ever done with their money and what they learned from the experience. The essays that result are often humorous, sometimes poignant, and always interesting.
The gala, though, just tops off the week. The CEWC launch program and Professional Development Day November 10th bring together an immensely talented bunch. Activities get underway at Toronto’s downtown YMCA starting at 9:30 a.m. Come participate and enjoy a free light breakfast and lunch. Journalist, editor, and author Ellen Roseman will be on hand as master of ceremonies, and rightfully so since she is a terrific writer about matters of finance and consumer advocacy. Hear lots about smart personal finance from journalist, best-selling author, and TV host Bruce Sellery. Greet Canada’s first Financial Literacy Leader Jane Rooney, as well as a panel of experts serving on this year’s newly formed Financial Literacy Steering Committee under Jane’s wing.
I am proud this year to have been selected by the Government of Canada as a member of the Financial Literacy Steering Committee, which is tasked with essentially the same mission as CEWC – to improve financial planning know-how among all Canadians so that we can all attain, and maintain, greater prosperity and peace of mind. As part of launch-day activities, I will present and discuss the findings of a thought-provoking study for CEWC. It explores this year’s Failure to Launch theme from the point of view of the attitudes and emotions surrounding financial behaviour. As platinum co-sponsors of CEWC, Credit Canada Debt Solutions (my agency) and Capital One Canada undertook the research.
Among other activities during the week, a luncheon event deserves special mention. Hosted by Pat Foran at Toronto’s Oliver and Bonacini restaurant November 12th, the luncheon brings together a “Failure to Launch” panel of experts to discuss the financial vices and obstacles Canadian Millennials face today. The panel will offer valuable tips and advice to help people successfully launch onto the path of financial stability. Its members include yours truly along with Brent Reynolds, vice president Capital One Canada, Diana Olsen, president and founder of Balzac’s Coffee, Kyle Prevost, author and blogger at Young & Thrifty, and Cait Flanders, blogger at Blonde on a Budget.
All in all, CEWC 2014 promises to be another bang-up success. Don’t miss it.
I extend sincere thanks go to all sponsors of CEWC, and to all special guests, organizations, and communities participating in this worthy undertaking. Visit http://www.cewc.ca/ for more about the week, including scheduled events inside and outside of Toronto.
Frequently Asked Questions
Have a question? We are here to help.
What is a Debt Consolidation Program?
A Debt Consolidation Program (DCP) is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debts into a single, lower monthly payment. In Canada’s provinces, such as Ontario, these debt payment programs lead to faster debt relief!
Can I enter a Debt Consolidation Program with bad credit?
Yes, you can sign up for a DCP even if you have bad credit. Your credit score will not impact your ability to get debt help through a DCP. Bad credit can, however, impact your ability to get a debt consolidation loan.
Do I have to give up my credit cards in a Debt Consolidation Program?
Will Debt Consolidation hurt my credit score?
Most people entering a DCP already have a low credit score. While a DCP could lower your credit score at first, in the long run, if you keep up with the program and make your monthly payments on time as agreed, your credit score will eventually improve.
Can you get out of a Debt Consolidation Program?
Anyone who signs up for a DCP must sign an agreement; however, it's completely voluntary and any time a client wants to leave the Program they can. Once a client has left the Program, they will have to deal with their creditors and collectors directly, and if their Counsellor negotiated interest relief and lower monthly payments, in most cases, these would no longer be an option for the client.