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Headline Details Fintech apps help some people save.
Why is this important?
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.
Related priorities
This headline relates to the following National Financial Literacy Strategy priorities and target outcomes:
Related findings
Users of QUBER, a personal finance app with behavioural insights, build an emergency fund of $1,000 or more in 2 years, on average.
Initiative: QUBER App
Adopter: QUBER
Users of QUBER, a personal finance app with behavioural insights, save between $100 to $200 per month, on average.
Initiative: QUBER App
Adopter: QUBER
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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