Former Dragon talks financial literacy

A financial literacy training program has been launched involving CTS Canadian Career College and Modern College of Hairstyling and Esthetics.

The Enriched Academy program is offered to all staff and students.

Bruce Croxon, a former Dragon’s Den star, is involved with the program.

He says financial literacy is critically important as people go out and try and make an income.

“Try and balance that income against a lifestyle.  Too often, I’ll use a skiing analogy, you get out over your skis in terms of your spending, more than you can afford,” he says.

Officials say they’ve brought in the program to respond to record-high debt levels and chronically low savings rates in Canada.

Meantime, Croxon spoke to graduating students last night at the Capitol Centre.

He says they should ask themselves if they’re the type of person that wants to do their own thing or are they the type that wants to work for someone else.

Another tip is to do something you like.

“When you’re working on a Sunday, because you’re going to have to, you’ll have to work very, very hard.  If you’re doing something you like, then maybe it doesn’t seem too much like work,” he says.

Croxon says if you’re going into business it promises to be a roller coaster ride with ups and downs.

He says there are ways to create wealth that really involve living within your means and there are other ways that cause problems and you should do your best to avoid them.