Monnaie Money Newsletter - July 2013


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The Monnaie Money July 2013 Newsletter. News and tips for better money and credit card management and financial literac

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Monnaie Money Newsletter - July 2013

  1. 1. MONNAIEMONEY.COM FINANCIAL LITERACY PROJECT Newsletter My  Priorities!  My   Future!   June 15th, 2013 Financial literacy provides the foundation of saving and investing wisely. It is the basics for the responsible use of credit and money and the making informed financial decisions that can affect our families and our future. The MonnaieMoney Financial Literacy Project will provide fundamental tools for youth. The objective of the project is to bridge the gap between what people know and what they need to know with respect to personal financial skills and provide opportunities for personal empowerment and enhanced self-sufficiency. For the past four years the Carrefour jeunesse-emploi de Côte-des-Neiges and the Jamaican Canadian Community Women’s League of Montreal Inc. have been very active in promoting financial literacy to the wider community in the city of Montreal. Content 1 2 3 4 International Economic Forum of the Americas 2013
  2. 2. MONNAIEMONEY.COM JULY 2013 2 Celebrating our country and unity… On Monday July 1st 2013 at Kent Park, the Carrefour jeunesse-Emploi Côte-des-Neiges hosted its annual Canada Day BBQ for the kids, youth, adults and seniors of the Côte-des- Neiges area. About 2000 residents showed up to enjoy BBQ food, fruit smoothies from McDonald’s, free gifts and up to 20 local artists from various cultural backgrounds performed on stage. The event was a successful fun community gathering for people of all ages to celebrate Canada’s birthday, the biggest Canada Day celebration in the heart of Côte-des-Neiges. The Carrefour jeunesse emploi de Côte-des-Neiges and Jamaican Canadian Community Women’s League of Montreal Inc. would like to thank all the volunteer staffs, DJ’s, sponsors, partners and participants of this annual Canada Day BBQ, especially organizations that held kiosks, Insta Chèque, Banque du Canada & McDonald’s Restaurants. We hope to see you again next year! Online Resources A website created by the Autorité des marchés financiers, the regulatory and oversight body for Québec's financial industry: A website from the Financial Consumer Agency of Canada (FCAC), an independent body working to protect and inform consumers of financial products and services:
  3. 3. MONNAIEMONEY.COM JULY 2013 3   Negotiating a Better Wireless Deal for Your Mobile Device   If  you  will  need  a  cell  phone  just   for  emergencies  or  for  occasional   use,  you  should  be  aware  of  “pay   per  use”  or  prepaid  cards.  These   cards  will  prevent  you  from  getting   yourself  into  costly  contracts  even   if  your  phone  is  hardly  used.           Do  Some  Research     With  the  list  of  your  needs  for  a   wireless  plan,  you  can  turn  to  the   internet  to  conduct  some  research   and  start  comparison  shopping.     All  the  wireless  providers  have   websites  with  the  details  of  the   offers.    When  reading  through  the   information  from  each  provider,  be   sure  to  read  the  fine  print  and  the   conditions.    To  assist  you  in   comparing  different  offers,  you  can   use  Cell  Phone  Etc.  that  has  a  great   tool  at  to  help  you  assess  a  plan  for   your  service  needs.     Visit  Competitors     With  your  research  and   comparison  of  deals,  visit  the   competitors  of  your  current   provider.      Explain  to  the  client   services  representatives  in  the   stores  that  you  have  specific  needs,   a  budget  and  looking  for  a  service   provider  to  beat  the  fee  that  you   are  paying.  By  being  prepared  with   documentation  on  offers  by  other   providers,  you  can  have  leverage   in  bargaining  amongst  companies   that  want  your  business.         State  that  your  current   contract  is  ending  soon   and  you  are  looking  for  the   best  deals  on  the  market.     Pledge  Your  Loyalty   If  your  contract  is  just   about  to  end  in  the  next   few  weeks,  be  proactive   and  call  your  existing   provider  to  explain  that   you  are  in  the  process  of   finding  a  way  of  reducing   the  amount  of  money  that   you  pay  for  wireless   charge.  Be  very  clear  that   you  wish  to  stay  with  them   once  again,  however;  ask  if   there  is  any  wiggle  room  in   terms  of  giving  you  a   better  rate  on  certain   services  be  it  phone,  text   or  web  surfing.     For  more  tips,  follow  us  at money     Ian  Smith  is  a  social  media   marketing  strategist  and   competitive  intelligence   researcher.    He  has  written   several  articles  on  the  topics  of   digital  marketing  and  strategic   intelligence  gathering  tools  and   techniques  for  the  past  15  years.       He  contributes  articles  dealing   with  financial  literacy  topics   based  on  his  personal   experiences.       In  early  June  2013,  the  Canadian   Radio-­‐television   Telecommunications   Commission  (CRTC)  introduced   a  new  code  related  to  the  length   of  cellphone  contracts  and  the   fees  that  companies  can  charge   for  international  roaming  and   data.       As  of  December  2013,   consumers  will  have  more   bargaining  power  when  it  comes   to  finding  the  best  deals  for  the   cell  phone  or  other  mobile   devices.    One  key  highlight  from   the  code  that  every  consumer   should  know  is  the  ability  to   cancel  their  wireless  contract   after  two  years  without  paying  a   cancellation  fee.   Although  the  code  comes  into   effect  in  five  months,  you  do  not   have  to  wait  to  bargain  for  a   better  wireless  deal  to  fit  your   needs  and  budget.    With  the   right  mindset  and  following   practical  tips,  you  can  be  paying   much  less  in  fees  when  it  comes   to  wireless  services  for  your   mobile  device.   Know  What  You  Need  Before   Buying   Depending  on  how  you  use  your   mobile  device  will  influence  the   amount  of  money  that  you  will   pay  for  the  wireless  services.      
  4. 4. MONNAIEMONEY.COM JULY 2013 4 The MonnaieMoney team attended the International Economic Forum of the Americas held at Hilton Bonaventure Hotel on June 12th , 2013. Financial Literacy: Preparing for the Future Against the backdrop of protracted volatility in the global economy, financial literacy tools are of vital importance in protecting consumers and promoting safer financial practices. What measures are most effective in empowering youth and other demographic groups vulnerable to systemic financial risks?
  5. 5. Carrefour Jeunesse-Emploi de Côte-des-Neiges 6555, Côte-des-Neiges, # 240 Montreal, Quebec, H3S 2A6 Jamaican Canadian Community Women’s League of Montreal, Inc. 5465 Queen Mary Rd, # 300 Montreal, Quebec, H3X 1V5 UPCOMING CONTEST … For more information, contact: Brian Smith, MonnaieMoney Project Coordinator (514) 342-5678 ext. 228 / (514) 817-3941 From 10 am to 1pm! Welcome to our new sponsor!