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Participants of the FinLit U program reported more frequently paying bills on time after the 8-week workshop.
Initiative: FinLit U
Adopter: Black Moms Connection
Participants of the FinLit U program reported staying within their means more often after the 8-week workshop.
Initiative: FinLit U
Adopter: Black Moms Connection
Participants of the FinLit U program reported more proactive debt reduction after the 8-week workshop.
Initiative: FinLit U
Adopter: Black Moms Connection
33% of participants in a financial literacy workshop reported having either no chequing, or no savings account (i.e. underbanked), whereas 8% reported having neither (i.e. unbanked). Most unbanked and underbanked participants are under 21 and are less likely to have an income.
Initiative: Money Matters
Adopter: ABC Life Literacy Canada
8% of participants in a financial literacy workshop reported having neither chequing, nor savings, account (i.e. unbanked). A quarter of those participants noted not knowing what financial products or services best suit their needs as a major reason.
Initiative: Money Matters
Adopter: ABC Life Literacy Canada
51% of homebuyers said that they discussed unexpected costs with their mortgage professional.
Initiative: Mortgage Consumer Survey
Adopter: Canada Mortgage and Housing Corporation
The most common reasons given for not opening an RDSP were: 1) not having enough money to save (46%); 2) lacking information about the RDSP program (29%); and 3) feeling it was too complicated (15%).
Initiative: Survey on Savings for Persons with Disabilities
Adopter: Statistics Canada
Among 230 users of QUBER, a personal finance app with behavioural insights, most of them feel confident that they could reach their short-term saving goals.
Initiative: QUBER App
Adopter: QUBER
If provided with an opportunity to speak to a financial advisor about one topic, Canadians ranked investing first, followed by retirement and budgeting.
Initiative: QUBER App
Adopter: QUBER
One year after a digital literacy training, the percentage of people who never use the Internet dropped from 3% to 1%.
Initiative: Digital Literacy Exchange Program
Adopter: Innovation, Science and Economic Development Canada
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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