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Finding

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

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

Finding

51% of homebuyers said that they discussed unexpected costs with their mortgage professional.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation

Finding

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

Finding

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

Initiative

Financial Literacy Evaluation Toolkit

Financial Literacy Evaluation Resource Kit includes Strategy-Aligned Measures that gather information about the frequency and kinds of financial help opportunities that consumers engage in.

Adopter: Prosper Canada

Initiative

Bitcoin Omnibus Survey

The Bitcoin Omnibus Survey monitors trends in Canadians’ awareness, ownership and use of Bitcoin and other crypto assets. The survey also measures Canadians’ financial and crypto literacy, and their use of cash.

Adopter: Bank of Canada

Initiative

Survey on Savings for Persons with Disabilities

The Survey on Savings for Persons with Disabilities gathers information about the knowledge and behaviours of Canadians with disabilities and their caregivers with regard to savings.

Adopter: Statistics Canada

Initiative

Mortgage Consumer Survey

Surveying over 4,000 Canadians, this tool has helped understand consumers’ thoughts, attitudes and behaviours regarding homeownership and the process of obtaining a mortgage.

Adopter: Canada Mortgage and Housing Corporation

Initiative

Indicators for Financial Empowerment

Indicators for Financial Empowerment serve as a resource for ecosystem stakeholders to track progress in a systematic way.

Adopter: Prosper 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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