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Finding

3% of Canadians were victims of a pyramid or Ponzi scheme.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 40% of Canadians understand when it is financially beneficial to borrow money.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 40% of Canadians compared credit cards from different companies before applying.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 75% of Canadians understand what lowers house mortgage costs.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 70% of Canadians say they are financially preparing for retirement.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

Fewer than 10% of Canadians reported using a Buy-Now-Pay-Later service during 2021. Most of them understood the amount of each scheduled payment.

Initiative: Pilot Study: Buy Now, Pay Later Services in Canada

Adopter: Financial Consumer Agency of Canada

Finding

65% of QUBER users accepted and successfully completed a saving challenge, and of those, 80% continued with other saving goals.

Initiative: QUBER App

Adopter: QUBER

Finding

80% of QUBER users accepted a saving challenge, and of those, more than 80% successfully completed the challenge.

Initiative: QUBER App

Adopter: QUBER

Finding

Canadians’ top preference for receiving information about their investments is through digital channels (68%) followed by meeting with their advisor or getting a paper copy of their investment banking statement (15% each).

Initiative: Investor Survey

Adopter: Canadian Investment Regulatory Organization

Headline

Tailored financial education can improve debt and finance management.

Financial education tailored to individual needs equips people with the skills to make informed decisions about their unique financial situation.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Source: Credit Canada GOLD, FinLit U

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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