Canadians and Their Money

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Appendix C: Highlights from the National Financial Literacy IndexThe results of the 2009 Canadian Financial Capability Survey have been translatedinto a national index composed of five broad areas of financial literacy: making endsmeet; keeping track; choosing financial products; planning ahead; and stayinginformed. For each of the five areas, the index gives a score between 0 and 100,where 100 is the highest score of anyone in the country and 0 is the lowest.National Average Scores1008082Score604066706120390Making ends meetKeeping trackChoosing productsPlanning aheadStaying informedThe following graphs show the distribution of Canadians between the highest andlowest scores in each of the five areas of financial literacy. A preponderance ofscores toward the right would indicate that most Canadians are managing wellwith a particular aspect of financial literacy.92TASK FORCE ON FINANCIAL LITERACY – Appendices
2520151050Most Canadians are making ends meet, but some are facing moderate challengesand a handful are experiencing serious difficulties.2520151050Again, most Canadians are managing to keep track of their finances: one group isdoing slightly better than average, another group shows a little room for improvementand a minority is having significant problems.TASK FORCE ON FINANCIAL LITERACY – Appendices 93
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Report of Recommendations on Financ
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Table of ContentsAcknowledgements..
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AcknowledgementsContributions of ma
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www.financialliteracyincanada.comTh
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touches all residents, our recommen
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3. Lifelong LearningWe believe that
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ensure, at the highest level, accou
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• Navigate the ever-changing fina
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Figure 1: National Average Scores,
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Figure 3: Ratio of Household Debt t
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Figure 4: Key Results from the 2003
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Figure 6: National Strategy on Fina
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GovernmentsGovernments are uniquely
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play a crucial role in providing fi
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Figure 7: Shared Responsibility - M
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term. Further, the mandate should n
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• Enable stakeholders to be activ
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Figure 9: Life EventsReceivingunexp
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Figure 10: Essential Skills - Money
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We commend those authorities who ar
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Governments may consider leveraging
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considering the purchase of a finan
Page 45 and 46: “lunch and learn” seminars and
Page 47 and 48: The Role of Professional AdviceThe
Page 49 and 50: In some cases, programs reach many
Page 51 and 52: Student Loans Directorate at the De
Page 53 and 54: The UAS is also “designed to incr
Page 55 and 56: Throughout the public consultation
Page 57 and 58: since 1982. His report, entitled
Page 59 and 60: Take-up of Government BenefitsEarli
Page 61 and 62: Programs for SavingIn our deliberat
Page 63 and 64: programs. We encourage, as a supple
Page 65 and 66: When it comes to online learning, h
Page 67 and 68: Public Awareness CampaignCreative a
Page 69 and 70: Fraud Prevention and EducationWe pr
Page 71 and 72: Self-Assessment ToolStudies and sur
Page 73 and 74: contests could also be used to fost
Page 75 and 76: ear a responsibility to communicate
Page 77 and 78: The federal, provincial and territo
Page 79 and 80: 4.5.Planning ahead (thinking about
Page 81 and 82: students have acquired some of the
Page 83 and 84: and offer funding and professional
Page 85 and 86: To that end, the Government should
Page 87 and 88: Important research gaps remain, how
Page 89 and 90: Conclusion: The Way ForwardSuccess
Page 91 and 92: AppendicesAppendix A: Summary of Re
Page 93 and 94: 19. The Task Force recommends that
Page 95: Appendix B: Members of the Task For
Page 99 and 100: 2520151050Few Canadians keep themse
Page 101 and 102: Appendix E: Selected BibliographyTh
Page 103 and 104: Ipsos Reid. (2009). CSA Investor In
Page 105 and 106: Standing Senate Committee on Bankin
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