Toolkit for youth workers
This toolkit is designed to support youth workers in Québec in their search for tools and to direct them to relevant resources in order to help young adults become financially self-sufficient.
Specifically, it includes:
- Tools for acquiring basic knowledge and skills
- Resources to help you support young adults facing special situations
- Contact information of organizations that offer assistance services to young adults
Free training session
To attend a free one-hour training session on how to assist 16- to 35-year-olds with their financial education, offered to Québec youth organizations:
![[Translate to English:] Outils en matière de finances personnelles](/fileadmin/lautorite/medias/images/specialistes-education-financiere/trousse-outils.svg)
Tools for acquiring basic personal finance knowledge and skills
The tools presented in this section can help young adults realize how important it is to look after their finances, take a first step towards improving their financial health or better understand a financial concept.
Save
Saving money should be adopted as a financial habit as quickly as possible. There are many reasons to save money, including:
- To plan for one’s school
- To build up a contingency fund
- To stay out of debt
- To set aside money for a project or purchase
- To have the power to make choices
Raise awareness about the importance of saving money
Demonstrate the impact of compound interest when investing savings
The magic of compound interest
Plan for a project
Planifier Application | ACEF du Grand-Portage
This link will open in a new window
Free up extra money for savings
Make a budget
It’s hard to save without knowing where one’s money is going.
A personal budget provides young adults with a picture of their earnings and expenses and an opportunity to review their lifestyle choices in light of their financial goals.
Introduce young adults to the importance of making a budget
A Budget: The Smart Tool for Your Projects!
Improving my finances with a budget
Make a budget for the first time
Tes affaires! budget calculator
Faire un budget d’étudiant(e) universitaire
Faistonbudget.ca calculator | Université LavalThis link will open in a new window
Initiate a more comprehensive process
Use a credit card wisely
A credit card can be a practical tool when used responsibly and with a knowledge of how it works.
Not using a credit card properly can:
- Tarnish a young person’s credit report and harm his or her chances of obtaining credit, renting an apartment or even getting a job.
- Lead to over-indebtedness: When a person pays only the minimum balance every month while continuing to use the credit card, interest charges accrue and the amount owed increases.
Calculate and understand the cost of interest on a credit card
Tes affaires! Credit card calculator
Raise awareness about the proper use of credit cards
Your credit card | Office de la protection du consommateurThis link will open in a new window
Credit cards: How much do they cost?
Aider au choix une carte de crédit
Credit card comparison tool | Government of Canada This link will open in a new window
Understand the credit report
Some individuals or businesses may ask to see the credit reports of young adults before renting an apartment to them, giving them a credit card or offering them a job.
Better understand the credit report
Personal finances: Credit report
Commission d’accès à l’information website This link will open in a new window
Access one’s credit report
Investing
Many young people are exposed to messages or stories on the Internet or social media about people who have gotten rich quick by investing in the stock market or cryptoassets. The reality can be quite different! Before investing, it’s better to get informed by checking reliable sources.
Understand the basics of investing
Determine a person’s investor profile
Your investor profile calculator
Demystify cryptoassets
Crypto – What you need to know
Understand the difference between an RRSP and a TFSA
Avoid common financial scams
Young people are increasingly exposed to fraud on the Internet and social media. Learning more about the main types of fraud will help reduce the chances of being scammed.
Recognize the various kinds of fraud
Guard oneself against investment training opportunities that are too good to be true
Become a superinvestor in just a few days? No way!
Test their vulnerability to financial fraud on social media
Browse the Internet and social media safely
Browsing the Internet and social media without applying safety rules makes young adults vulnerable to fraud and identity theft.
![[Translate to English:] Ressources en matière de finances personnelles](/fileadmin/lautorite/medias/images/specialistes-education-financiere/trousse-ressources.svg)
Resources to help you support young adults facing special situations
The information provided in this section can help you support young adults who are in special situations or facing issues related to their personal finances.
Young adults with special needs
These tools take into account the situations of people with autism and new immigrants.
- Fiches d’éducation financière adaptées aux besoins des personnes autistes This link will open in a new window (Autisme Québec)
- L’essentiel des finances personnelles – Programme pour nouveaux arrivants au Québec This link will open in a new window
- Immigration and consumer issues – Being an informed consumer in Québec This link will open in a new window (Office de la protection du consommateur)
Disagreement with a financial institution
For problems related to the closing of an account, a refusal to open an account, the cashing of a cheque or any other banking-related issue, you can get assistance and information.
- If the disagreement is with a Desjardins caisse, contact the AMF.
- If the disagreement is with a bank, contact the Financial Consumer Agency of Canada This link will open in a new window.
- For issues involving an insurance company, contact the AMF.
Difficulties obtaining automobile insurance
A young adult who has difficulty getting insured can contact the information centre of the Groupement des assureurs automobiles (GAA). The GAA provides help in finding automobile insurance.
Buying a used car from a dealer
The Office de la protection du consommateur offers a wealth of tips to avoid cars with problems This link will open in a new window (in French) and excessive costs.
Find out what young adults should know about insurance sold by automobile dealers before they visit one.
Also, watch the video Your first car This link will open in a new window and check out the activity for teachers or social workers This link will open in a new window from the Office de la protection du consommateur.
Problem with an insurance claim
Contact the AMF, which, depending on the situation, can assist young people in filing a complaint.
First apartment: Questions about tenants’ home insurance
Tenants’ home insurance, while not mandatory, is recommended. Find out why this type of insurance is important.
For information about tenants’ rights and obligations, see the Québec consumer associations website toutbiencalcule.ca This link will open in a new window (in French).
To find out more about tenants’ home insurance and budget planning for a first apartment, visit Tes affaires! Youth Zone.
Indebtedness
Refer to the description of the services offered by professionals, firms and organizations that can help young adults with debt: consumer associations, licensed insolvency trustees and the financial institutions the young adults do business with.
Harassment by a collection agency
Collection agencies must adhere to rules of conduct. The methods they can use to recover money are regulated. Complaints can be filed with the Office de la protection du consommateur when the rules are not followed.
Consumer associations offer budget counselling and can provide advice to young adults who are in debt.
Personal information theft
Report the theft to your local police and the Canadian Anti-Fraud Centre This link will open in a new window.
To reduce the risk of fraud, read the AMF’s tips and the list of actions to take published by the Commission d’accès à l’information This link will open in a new window.
Incorrect information in a credit report
Find out how to request a correction to a credit report. For questions relating to credit reports, you can contact the AMF.
Cell phone contract: contract cancellation problems
Refer to the Guide des recours This link will open in a new window prepared by the Union des consommateurs.
Also, here are two activities covering consumers’ rights with respect to cell phone contracts: the Your cell phone contract This link will open in a new window video and an activity for teachers or youth workers This link will open in a new window from the Office de la protection du consommateur.
Issue with a merchant
The Office de la protection du consommateur sets out the steps This link will open in a new window to take in order to resolve an issue with a merchant. For example, the issue could be a defective item, a delivery that is late or a warranty issue. You can also contact the Office This link will open in a new window directly.
Is this a scam?
Not sure whether a situation reported by a young adult is a scam? Contact the AMF Information Centre right away.
![[Translate to English:] Organismes de services en matière de finances personnelles](/fileadmin/lautorite/medias/images/specialistes-education-financiere/trousse-organismes.svg)
Organizations that offer young people assistance services for their personal finances
| Organizations | Services |
|---|---|
Information and assistance relating to financial products and services. | |
Office de la protection du consommateur | Information and assistance relating to a product or service sold by a merchant or on credit. |
Information on employment rights and obligations. | |
The associations de consommateurs, Associations coopératives d’économie familiale (ACEF) and Services budgétaires populaires: Find an association | Budget counselling services (by appointment) and help with debt solutions that are generally offered at very affordable prices. |
Réseau des carrefours jeunesse-emploi Collectif autonome des carrefours jeunesse-emploi | The Carrefours jeunesse emploi (CJE) offer a host of free services to young people between the ages of 16 and 35 to help them become more self-sufficient. Some CJEs offer training on personal finances. |
Centres de justice de proximité | 11 Centres across Québec offer free legal information, support and referral services. |
30 Shelters across Québec house young people aged 12 to 35 experiencing difficulties. | |
Clear and simple information about the law and rights, including your consumer rights. |
We would like to thank the following organizations for contributing to this toolkit:
