The Financial and Consumer Services Commission (FCNB) is using Investor Education Month to help make millennials less hesitant about investing.
The commission is sharing tools and resources to encourage New Brunswickers aged 23 to 38 to consider investing their money now.
Lisa Legere, education coordinator with the FCNB, said they know many millennials are reluctant to invest for a variety of reasons.
“A lot of the times they have high debt, they’re just starting out so they may have low income levels, a lot of the times they prioritize regular savings over investing,” said Legere. “They just have more of a cautious attitude, it seems.”
But Legere said even a small contribution, such as $10 regularly, can really add up over time.
“Even if it’s for a down payment on a house, vacation, purchases for their hobbies, even planning for their retirement, millennials can take advantage of the compound interest,” she said.
The commission has several free resources on its website, including a guide to understanding investments and whether they are right for you; a checklist of five simple steps for choosing a financial advisor; and a guide to help understand leveraging.
Legere said it is important not to just jump in without doing some homework first.
“We definitely encourage you to check that your financial professional is registered with the province,” she said.
The commission will host a Spend Smart Café at St. Thomas University in Fredericton from 8 a.m. to 1 p.m. on Oct. 24.
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