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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

Headline

Digital banking is a challenge for many.

The financial marketplace is increasingly digital. Consumers with limited digital access or digital literacy risk being excluded. Overcoming these challenges is crucial to ensuring that all Canadians can benefit from digital banking.

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: Canadian Internet Use Survey, Free independent ecosystem reports

Headline

Investing, retirement, and budgeting are top-of-mind for financial advice.

Fewer than half of Canadians consider themselves to be financially knowledgeable. Canadians may be more interested in learning about financial topics related to managing their monthly expenses or planning for the future compared to topics related to specific financial products like insurance.

Source: FCAC Monthly Financial Well-being Monitor

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: QUBER App

Headline

Saving habits can help reduce money stress in the workplace.

Stress about finances can affect workplace productivity. Developing good saving habits can alleviate financial worries, leading to a more focused and productive work environment.

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: QUBER App

Headline

Most people protect themselves online, but some are still vulnerable to cyberattacks and financial loss.

The financial information of nearly 40% of Canadians will be targeted through phishing or hacking. These cyberattacks can cause serious financial and emotional distress.

Source: FCAC Monthly Financial Well-being Monitor

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: Canadian Internet Use Survey

Headline

Almost 1 in 3 Canadians face challenges because of bank branch closures.

Branch closures can create difficulties for Canadians, especially for those who are unable to manage their finances online due to limited digital access.

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: Survey of Canadians' Use of Banking Products and Services

Headline

Fintech apps help some people save.

Many Canadians find building up savings to be challenging. For example, only half of Canadian households have an emergency savings fund that would cover 3 months of expenses. Through sharing data with financial technology or “fintech” providers, Canadians can access digital tools that can help encourage positive financial behaviours.

Source: FCAC Monthly Financial Well-being Monitor

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: QUBER App

Headline

Most people don’t know when it’s financially beneficial to borrow money.

Borrowing money can be beneficial, but it can also be difficult to know when it should be avoided. Knowing when and how to borrow money helps people avoid unnecessary debt and make better financial decisions.

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: Canadian Financial Capability Survey

Headline

The costs of homebuying are unclear to many.

Unclear or confusing costs can lead to unexpected financial strain and stress when buying a home. Having a clear understanding of all the costs involved in buying a home is essential to make an informed financial decision, create an effective budget, and avoid unexpected debt.

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: Canadian Financial Capability Survey, Mortgage Consumer Survey

Headline

2 out of every 3 Canadians in debt don’t seek professional advice.

More than one third of Canadians report their debt has increased, and managing debt can be a difficult and stressful experience. Talking to a professional can help identify strategies for paying off debt on a schedule that meets an individual’s financial needs.

Source: FCAC Monthly Financial Well-being Monitor

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: Monthly Financial Well-Being Monitor

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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