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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 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 staying within their means more often 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

Among 230 users of QUBER, a personal finance app with behavioural insights, most of them feel confident that they could reach their short-term saving goals.

Initiative: QUBER App

Adopter: QUBER

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

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

Finding

35% of buyers reported experiencing unexpected costs during the homebuying process. Immediate repairs were the most reported unexpected expense, followed by lawyer fees.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation

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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