November is Financial Literacy Month. CPAs are uniquely suited to educating the public to improve their financial literacy, so it makes sense this month to shine a spotlight on three CPAs who are empowering others in this way.
Making an Impact: Shubhneet Lotay CPA, CMA
Editor’s Note: You can read more about Shubhneet’s volunteer journey in the Fall/Winter issue of CPA Alberta’s Dividends magazine, arriving in your mailbox in early December.
Shubhneet Lotay CPA, CMA
November is also the month where CPA Alberta is highlighting the impact of CPA volunteers like Shubhneet. Shubhneet volunteers as part of CPA Canada’s Financial Literacy Community Connect Network. The program has CPA volunteers working with community organizations providing sessions to the general public—usually through community organizations or schools—to educate attendees on a wide range of financial literacy topics.
The roots of her desire to encourage good financial decisions lie in her own experience. “I immigrated to Canada with my family when I was a young adult, and I found options like credit cards overwhelming. I just assumed that students in Canada learned financial literacy through their schooling and was shocked to discover they didn’t and were just as confused as I was!”
As a result, Shubhneet’s favourite groups to present to are students. “It’s extremely rewarding to see the light bulb go off for these students. I think it is critical to learn financial literacy skills at an early age, and to instill proper values around money and spending when kids are still young.”
Are you motivated to start making impact? It’s always a good time!
Volunteer opportunities are available in all communities around the province, at all times of the year. Regardless of your interests and level of commitment, you can find the perfect opportunity for you.
One easy way to have an immediate impact is to take part in CPA Alberta’s Blood Drive Challenge. CPA Alberta, in partnership with the Canadian Blood Services, is challenging Alberta CPAs to donate at least 100 units of blood throughout the month of November!
If you’re passionate about making a difference, you can visit CPA Alberta’s website for volunteer positions within the profession and CPA Alberta’s Job Board for a wide variety of community volunteer opportunities around the province suitable for CPAs.
Empowering Women: Selina Grey CPA, CA and Janine Rogan CPA
Selina and Janine are speakers and educators who have taken their passion for financial literacy and turned it into the focus of their professional careers; through their respective companies Richness Revolution and The Wealth Building Academy. The women and their organizations share the goal of empowering women through increasing their financial literacy.
Janine Rogan CPA
“Education is such an important piece of the financial literacy journey and is one of the first steps to financial freedom. I remember being overwhelmed when I started learning about money, so I want to demystify it for the next group of women,” says Janine.
This is imperative due to the gender inequities that unfortunately still persist. “White women earn just 84 cents on the dollar and women of color earn just 62 cents on the dollar for the same work as men,” explains Janine. “This disparity in income compounds into the wealth gap. On average, a white woman holds just 32 cents in financial assets for every dollar that a man earns, and again for women of color this number is a paltry two cents. This gap means women have less financial security, so it’s incredibly important for them to take an active role in managing the money they do have.”
Selina Grey CPA, CA
However, that is just the start. “Being financially literate goes beyond building a cash management plan, it gets to the heart of living a rich life,” explains Selina. “The ultimate goal is improving your relationship with money by understanding finances and the emotions that live behind your numbers, so you can build richness from the inside out.”
That philosophy gives rise to Selina’s best piece of financial literacy advice: work to understand your complicated and emotional relationship with money. “Start paying attention to your feelings instead of ignoring them. After working with thousands of humans with a wide variety of backgrounds, cultures, and careers, I can definitely say allowing yourself to look beyond the numbers of finances is critical to long term peace, empowerment, and happiness with money.”
