Toll-free line open for financial advice

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Pilot project being tested in NL

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 A new community service pilot project is now underway across the province.

For the next two weeks, Feb. 20 to March 1 (Mondays to Thursdays, 3-8 p.m.) residents of Newfoundland and Labrador will have access to answers about money.

The financial info line, 1-855-235-1035, is a free and confidential community service. Anyone can call the line to get clear and easy-to-understand answers to questions they may have related to money matters.  

 

People can call the financial info line with any question related to money matters - ranging from “What is a credit rating?” to “How do interest rates work” to simply asking what a certain financial term means.

This pilot project is part of the MONEY financial literacy project, being led by the Community Sector Council NL in partnership with Credit Counselling Services NL, with funding from SEDI’s Canadian Centre for Financial Literacy and the TD Financial Literacy Grant Fund.

 

Financial literacy means that people have the skills and knowledge required to make informed and sound decisions about their finances.

 

“Our research tells us that people who are facing financial challenges often don’t know where to go to get basic financial information that could really help them,” said Penny Rowe, CEO of the Community Sector Council NL, in a press release today.  “And it’s important that this financial info line is a community-based service, so people can be assured that they are getting objective information and no one will be trying to sell them any sort of financial services.”

 

“Sometimes people just need clear and easy-to--understand answers,” added Al Antle, Executive Director of Credit Counselling Services NL.  “This preliminary pilot will help us to better understand exactly what kind of information people are looking for and whether an info line is an effective way to meet that need.”

The toll free number, until March 1, is: 1-855-235-1035

 

Organizations: Community Sector Council NL, Credit Counselling Services NL, Canadian Centre TD Financial Literacy Grant Fund

Geographic location: Newfoundland and Labrador

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