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Finding

3% of Canadians were victims of a pyramid or Ponzi scheme.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 40% of Canadians understand when it is financially beneficial to borrow money.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 40% of Canadians compared credit cards from different companies before applying.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 75% of Canadians understand what lowers house mortgage costs.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

About 70% of Canadians say they are financially preparing for retirement.

Initiative: Canadian Financial Capability Survey

Adopter: Financial Consumer Agency of Canada

Finding

Fewer than 10% of Canadians reported using a Buy-Now-Pay-Later service during 2021. Most of them understood the amount of each scheduled payment.

Initiative: Pilot Study: Buy Now, Pay Later Services in Canada

Adopter: Financial Consumer Agency of Canada

Finding

Of the Canadians who contacted their bank for pandemic-related financial assistance, 52% received it. However, 8% turned down the offer for various reasons, such as the cost, concern about damaging their credit score, and the effort involved.

Initiative: Survey of Canadians' Use of Banking Products and Services

Adopter: Financial Consumer Agency of Canada

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 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 keeping track of spending and income more frequently after the 8-week workshop.

Initiative: FinLit U

Adopter: Black Moms Connection

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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