COVID-19 financial literacy: I’m a post-secondary student. What’s next?

Trying to manage your expenses during the COVID-19 crisis? Learn about the new measures for student loans and ways to budget.

Life tends to throw you curveballs, especially when you thought 2020 would be that year for the best marks, class popularity or the start of that dream summer job. Take this time to learn more skills and make new virtual contacts – everyone is home anyway! CPA Canada has curated some resources to help you level-up your financial literacy knowledge so when the time comes, you can start on the right foot.

Webinars

These webinars are made possible by the generous support of Canada Life, our national development sponsor.

Wellness in a time of crisis
The first half of the webinar focuses on financial fears including income and stability, stock market instability and having that “emergency fund.” The latter half tackles mental health challenges, covering topics like how to deal with news overload, isolation, working with children at home and how to access help when needed.

Protecting yourself from fraud during COVID-19
Get tips on how to protect yourself from fraudsters during this crisis

Coping with stress during COVID-19
Learn how to take control of your stress during this uncontrollable time.

Ten healthy habits to have during COVID-19 (French only)
Learn how the ten healthy habits of financial management will help you better manage your money during and after this crisis.

Podcasts

Mental wellness during a pandemic

Financial wellness and mental wellness are connected. It’s no secret that COVID-19 has left many individuals struggling mentally. Mary Ann Baynton, director of strategy and collaboration, Workplace Strategies for Mental Health, at Canada Life, helps us tackle these mental health hurdles by providing insight and strategies to take control in this uncertain time. This episode was recorded via Skype.

Apple Podcasts | Podbean | Google Podcasts | Spotify

Tax in turbulent times

Tax season comes every year, but this year looks a bit different given the pandemic circumstances. In this episode, we talk all things tax with Fabio Bonanno, CPA, CA, principal, Taxation at CPA Canada, as he walks us through some of the government benefits available and what we need to know about tax during the COVID-19 crisis. This episode was recorded via Skype.

Apple Podcasts | Google Podcasts | PodBean | Spotify

Saving with volatile incomes

The pandemic has caused many to re-evaluate their financial situation and closely analyze expenses and their needs versus wants. In such unpredictability, some are even wondering what they can do now to benefit their financial situation long-term, including saving. Join entrepreneur Garth Sheriff, CPA, CA, as he shares his story on how he and his family are tracking costs during COVID-19 and provides listeners with practical strategies for saving during this volatile time. This episode was recorded via Skype.

Apple Podcasts | Google Podcasts | PodBean | Spotify

To listen to more episodes, visit the Mastering Money: The Educator’s Edition podcast page .

Tools

Post-secondary student budget
This worksheet will help students accurately estimate the total budget they need.

Cash Flow Organizer
Get a clear picture of your cash flow — what is coming in and what is going out. 

Net Worth Worksheet
Get a snapshot of what you own (your assets) and what you owe (your liabilities).

Document Organizer
Organize your documents in preparation for filing your taxes.

Financial Wellness Guide
Our interactive questionnaire helps you understand money basics and how they apply to you.

A Canadian’s Guide to Money-Smart Living (publication)
This award-winning guide will help you make money management a part of your daily life with easy action steps and self-assessment checklists.

Just the facts – Schools
Get access to educational materials on multiple financial topics that help teach students practical ways to take control of their finances.

Just the facts – Adults
Get access to educational materials targeting the diverse financial needs of adults, ranging from topics on financial statements basics to effective financial management.

Articles

Budgeting 101: Skills for university students
Here are some key ways to make your limited college or university dollars stretch.

Habits to improve financial wellness
Many of us find ourselves in the same financial rut over and over again. The following blog post offers tips on improving your financial wellness.

Avoiding fraud and identity theft in times of crisis
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.

Federal government support

  • a moratorium on the repayment of Canada Student Loans
    • six-month interest-free moratorium placed on federal portion of student loans
    • loan repayments and interest automatically suspended until September 30, 2020
    • students do not need to apply for the repayment pause
  • Canada Emergency Response Benefit (CERB)
    • taxable benefit of $2,000 a month for up to four months – available March 15 to October 3. Deadline is December 2, 2020
    • eligibility
      • live in Canada and are at least 15 years old
      • stopped working because of COVID-19 or are eligible for EI regular or sickness benefits
      • have not voluntarily quit their job
      • had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application
    • allows people to earn up to $1,000 per month while collecting the CERB
    • extend the CERB to seasonal workers who have exhausted their EI regular benefits and are unable to undertake their regular seasonal work because of COVID-19
    • extend the CERB to workers who have recently exhausted their EI regular benefits and are unable to find a job because of COVID-19
    • should not apply for the CERB if already applied for EI
  • special Goods and Services Tax credit payment
    • one-time payment for low-income and modest income families
    • close to $400 for single individuals
    • close to $600 for couples
  • extra time to file income tax returns
    • filing due date for 2019 tax returns of individuals (other than trusts) deferred until June 1, 2020 (Payment due date for 2019 tax year is extended to September 1, 2020.)
    • any new income tax balances due, or instalments, being deferred until after August 31, 2020 without incurring interest or penalties
    • if expecting benefits under the Goods and Services Tax credit or the Canada Child Benefit, do not delay filing

View a complete list of support and up-to-date information on the Federal Government’s COVID-19 Response Plan

Provincial support

Alberta

British Columbia

Manitoba

Newfoundland & Labrador

New Brunswick

Northwest Territories

Nova Scotia

Nunavut

Ontario

Quebec

Prince Edward Island

Saskatchewan

Yukon

 

For questions, please email us.