“Many financial principles are universal,” Magdalena says. “Things like spending less than you make, avoiding debt, investing for the long haul, having the right insurance, and being smart about taxes. But CAF families face unique financial pressures, too. That’s why we’re designing financial literacy resources that help with both the basics and the extra challenges that come with military life.”
Discover the SISIP Money Mastery Portal
The CFMWS-SISIP Financial Education Program is funded by the Director General Compensation and Benefits, and one of the biggest achievements so far is the SISIP Money Mastery Portal, which has been re-launched just in time for Financial Literacy Month. This isn’t your average financial advice page. It’s packed with content that can help CAF members, such as:
- eLearning courses on Money Myths, Understanding Credit, Where Are You Today?, and TFSA vs. RRSP
- Bonus content for Beginners Stock Market and Retirement Planning
- Articles covering topics like budgeting, getting out of debt, investing, and insurance
- Webinars on various key financial topics
- Tools such as a credit card calculator and a budget simulator
Why Financial Literacy Matters More in Military Life
Frequent relocations, deployment impacts, and the need to fully understand pensions, benefits and entitlements make financial literacy vital for CAF members and their families. “Financial literacy helps you manage transitions, make better decisions, maximize your benefits, and plan for a secure future,” says Magdalena. “It’s a way to reduce stress and improve your quality of life.”
What’s Next?
CAF members and their families can look forward to even more tailored resources in the future. Magdalena and her team are working to expand from beginner to advanced content and plan to roll out new learning activities to help you retain what you learn.
Ready to get started? Sign up for the SISIP Money Mastery Portal today, and take the first step toward financial confidence. And remember, if you have questions about your personal finances, your local SISIP advisor is here to help with expert advice on everything from pensions and investments to insurance, spending, and borrowing.
