March 3, 2022
The pandemic has had a difficult impact on the lives of many people, due to the direct illness to secondary concerns such as financial security and stability. According to the Financial Consumer Report, more families are experiencing higher increases in debt (44%), accessed their savings (39%), and experienced economic stress (50%). More startling results, 62 % of Canadians report an increase in stress (Financial Consumer Agency of Canada, 2022).
How does finances impact our families?
Studies and research show that financial difficulties and poverty can experience poorer health outcomes and increased mental health difficulties. The financial stress can also impact families and parenting (OACAS, 2022). The family stress model demonstrated that economic pressure and poverty can affect the quality of, interparental relationships, parent’s mental health, externalizing, parental conflict, and difficulties with parenting. Further, these situations can impact children and youth’s outcomes and their future life chances, “including, externalizing and internalizing problems, academic and physical difficulties, and social and interpersonal relationship problems” (Early Intervention Foundation, 2022).
Promoting Financial Literacy
Our team actively promotes financial literacy, wellness and wealth. Through our informative workshops, Kujenga is creating and generating knowledge for families to build wealth.
Our Partners
Kujenga works in collaboration with community members to provide individualized supports for financial resources. Contact us today to learn more.
From March 15 to March 31, 2022, Kujenga in collaboration with community partners is offering a one time gift card and/or food delivery for families living in Durham Region and in need. Register soon to benefit from this important project. Need financial resources? Contact the Kujenga team to access financial literacy information, and more.