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Nearly 80% of recent homebuyers believed that they understood how much mortgage they could afford.
Initiative: Mortgage Consumer Survey
Adopter: Canada Mortgage and Housing Corporation
The longer users have been saving with QUBER, the lower the chance they report reduced productivity at work due to money stress.
Initiative: QUBER App
Adopter: QUBER
89% of participants reported having improved skills using the Internet following a digital literacy training program.
Initiative: Digital Literacy Exchange Program
Adopter: Innovation, Science and Economic Development Canada
8% of Canadians reported that they could not get the financial support or advice they needed.
Initiative: Free independent ecosystem reports
Adopter: Financial Resilience Institute
Among Canadians who have debt, 30% of them sought advice from financial professionals to help them manage debt.
Initiative: Monthly Financial Well-Being Monitor
Adopter: Financial Consumer Agency of Canada
One year after a digital literacy training, the percentage of people who never use the Internet dropped from 3% to 1%.
Initiative: Digital Literacy Exchange Program
Adopter: Innovation, Science and Economic Development Canada
Only 1 in 4 Canadians can correctly identify the compounding effect of fees on investments over time.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
About half of Canadians understand that a mutual fund provides a safer return than an individual stock.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
Fewer than 50% of Canadians know how much money to save for retirement.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
More than 10% of Canadians reported that they could not access trustworthy and unbiased financial advice.
Initiative: Free independent ecosystem reports
Adopter: Financial Resilience Institute
1 in 5 Canadians are DIY investors. DIY investing is more popular among racialized Canadians (28%) than it is among non-racialized Canadians (18%).
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
54% of Canadians have received information on identifying investment fraud, mainly from bank resources, online material, financial advisors, or social media.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
In 2023, about 5% of Canadians reported that they could not access digital financial tools or resources.
Initiative: Free independent ecosystem reports
Adopter: Financial Resilience Institute
About 40% of Canadians understand when it is financially beneficial to borrow money.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
About 60% of Canadians understand that bitcoin is not backed by a government.
Initiative: Bitcoin Omnibus Survey
Adopter: Bank of Canada
More than 60% of QUBER users took action to save money based on a behavioural nudge in the app.
Initiative: QUBER App
Adopter: QUBER
Participants of the FinLit U program reported more frequent saving after the 8-week workshop.
Initiative: FinLit U
Adopter: Black Moms Connection
Canadians’ top preference for receiving information about their investments is through digital channels (68%) followed by meeting with their advisor or getting a paper copy of their investment banking statement (15% each).
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
Racialized Canadians are more likely to self-report having a higher risk tolerance (16%) compared to other Canadians (6%).
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
65% of QUBER users accepted and successfully completed a saving challenge, and of those, 80% continued with other saving goals.
Initiative: QUBER App
Adopter: QUBER
20% of Canadian investors do not know whom to contact if they want to make a formal complaint.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
In 2021, 1 in 5 Canadians with a health condition said their condition made it difficult to deal with their bank.
Initiative: Survey of Consumers' Awareness of their Financial Rights and Responsibilities
Adopter: Financial Consumer Agency of Canada
51% of homebuyers said that they discussed unexpected costs with their mortgage professional.
Initiative: Mortgage Consumer Survey
Adopter: Canada Mortgage and Housing Corporation
80% of QUBER users accepted a saving challenge, and of those, more than 80% successfully completed the challenge.
Initiative: QUBER App
Adopter: QUBER
About 5% of Canadians reported that they could not access insurance.
Initiative: Free independent ecosystem reports
Adopter: Financial Resilience Institute
About half of Canadians do not own investments, citing not having enough money to invest as the top reason.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
About 70% of Canadians say they are financially preparing for retirement.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
About 40% of Canadians compared credit cards from different companies before applying.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
40% of workshop participants opened tax-free savings accounts for emergency savings.
Initiative: A targeted savings program
Adopter: Anonymous organization
About 60% of Canadians understand the effect of inflation on savings.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
2 in 3 Canadians understand how compound interest works.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
Nearly 11% of Canadians reported that they could not access affordable credit.
Initiative: Free independent ecosystem reports
Adopter: Financial Resilience Institute
35% of homebuyers paid more than what they had planned.
Initiative: Mortgage Consumer Survey
Adopter: Canada Mortgage and Housing Corporation
18% of Canadian investors did not submit a formal complaint when they had concerns about their investment accounts, citing "nothing would come of it" as a top reason.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
About 75% of Canadians understand what lowers house mortgage costs.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
3% of Canadians were victims of a pyramid or Ponzi scheme.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
In 2020, 75% of Canadians reported having conducted online banking.
Initiative: Canadian Internet Use Survey
Adopter: Statistics Canada
85% of those shopping for chequing accounts and 80% of those shopping for credit cards said the recommendations they received were appropriate.
Initiative: Mystery Shopping at Domestic Retail Banks
Adopter: Financial Consumer Agency of Canada
Participants in a financial coaching program improved their credit score by 4% on average after 3 months.
Initiative: Credit Canada GOLD
Adopter: Credit Canada
About half of Canadians understand the relationship between bonds and interest rates.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
35% of investors who have an advisor do not know how their advisors are compensated.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
40% of Canadian investors think industry disclosures are adequate.
Initiative: Investor Survey
Adopter: Canadian Investment Regulatory Organization
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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