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TORONTO, ONTARIO--(Marketwire - Nov. 30, 2011) - Today marks the final day of Financial Literacy Month, which was launched by Finance Minister Jim Flaherty. As part of Making Money Make Sense and BMO SmartSteps, BMO has provided a tip every business day in November. Each tip is designed to help individuals and families save and manage their day-to-day finances more effectively.

BMO's Tip of the Day: By using a credit card that provides automatic extended warranty and purchase protection this holiday season, you can save hundreds of dollars on the cost of manufacturers' extended warranties and protect yourself against theft or damage of your purchases.

For example, any item purchased using a BMO credit card is automatically insured against theft or damage for 90 days from the date of purchase and has a warranty for double the original manufacturer's warranty period, up to a maximum of one additional year.

"Credit cards remain the most popular payment option for shoppers this holiday season. In BMO's 2011 Holiday Spending Outlook, 64 per cent of respondents said they will make purchases using their credit cards," said Jennifer Weisman, Head of Credit Card Marketing, BMO Bank of Montreal. "As long as card holders pay off their balance in full every month, there are many benefits to using a credit card to shop, including earning rewards on all your holiday spending."

BMO Financial Literacy Month Tips

November 1: Pay more than the minimum payment on a credit card balance.

November 2: Choose a shorter amortization for your mortgage.

November 3: Contribute to a child's Registered Education Savings Plan (RESP) as early as possible.

November 4: Invest in a Tax-Free Savings Account (TFSA) to maximize your savings.

November 7: Switch to weekly mortgage payments to save interest and become debt-free faster.

November 8: Take advantage of credit card travel insurance to lower costs.

November 9: Start early and contribute often to your investment account, rather than waiting to invest.

November 10: Use a line of credit to consolidate high-interest debt and save on interest costs.

November 14: Canadians can give the gift of securities and benefit at tax time.

November 15: Students, pay off your credit card balances and take advantage of student discounts to save money.

November 16: Pay an extra five per cent on your mortgage every year to reduce interest costs.

November 17: Secure your retirement by starting to save early and taking advantage of compounding growth.

November 18: Students can save money by ensuring they are in a no-fee student banking plan.

November 21: The Registered Disability Savings Plan (RDSP) is a powerful investment option that can offer long-term financial security for persons living with a disability.

November 22: Maximize your Old Age Security (OAS) benefits by adopting the right tax strategies.

November 23: Stress-test your mortgage to ensure your housing costs are affordable.

November 24: Take advantage of Canada's numerous online personal finance resources.

November 25: Consider taking out a loan to maximize your contribution to your Registered Retirement Savings Plan (RRSP) and take advantage of the tax benefits.

November 28: Consolidate your purchases under a single rewards program.

November 29: Have an emergency fund that is equal to three-to-six months of your income set aside for a 'rainy day'.