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Initiative Details FinLit U

Black Moms Connection launched FinLit U in 2020. It is an 8-week financial literacy masterclass designed for Black mothers and is led by Black financial professionals. The program leaders consult with consumers and financial professionals from the Black community to ensure a highly tailored approach that aims to improve confidence and rates of inclusion in the financial system. They use qualitative and quantitative feedback to assess consumers’ access and use of financial products and services, as well as to get a sense of the kinds of negative experiences that Black consumers may face.

Initiative type

  • Workshop/webinar

Demographics collected

  • Education
  • Ethno-cultural group
  • Financially responsible for dependent
  • Gender
  • Household income
  • Marital status
  • Visible minority
  • Work situation

Target population

  • Parents
  • Women

Adopter

Link

Related priorities

This initiative relates to the following National Financial Literacy Strategy priorities and target outcomes: 

Priority 4

Enhance access to trustworthy and affordable financial help

  • Target outcome 4.2
Related headlines
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
Related findings
Finding

Participants of the FinLit U program reported keeping track of spending and income more frequently after the 8-week workshop.

Initiative: FinLit U

Adopter: Black Moms Connection
Finding

Participants of the FinLit U program reported more frequent saving after the 8-week workshop.

Initiative: FinLit U

Adopter: Black Moms Connection
Finding

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
Finding

Participants of the FinLit U program reported more proactive debt reduction after the 8-week workshop.

Initiative: FinLit U

Adopter: Black Moms Connection
Finding

Participants of the FinLit U program reported seeking help with money more actively after the 8-week workshop.

Initiative: FinLit U

Adopter: Black Moms Connection
Finding

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
Related measures
Use the Opens in new tabMeasures Library to search for Strategy-Aligned Measures (SAMs) that help stakeholders in the financial ecosystem track progress toward achieving the National Strategy’s target outcomes.

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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