This report provides results from the 2019 Canadian Financial Capability Survey (CFCS). It offers a first look at what Canadians are doing to take charge of their finances by budgeting, planning and saving for the future, and paying down debt. While the findings show that many Canadians are acting to improve their financial literacy and financial well-being, there are also emerging signs of financial stress for some Canadians. For example, about one third of Canadians feel they have too much debt, and a growing number are having trouble making bill, rent/mortgage and other payments on time.

Over the past 5 years, about 4 in 10 Canadians found ways to increase their financial knowledge, skills and confidence. They used a wide range of methods, such as reading books or other printed material on financial issues, using online resources, and pursuing financial education through work, school or community programs. Findings from the survey support evidence that financial literacy, resources and tools are helping Canadians manage their money. For example, those who have a budget have greater financial well-being based on a number of indicators, such as managing cashflow, making bill payments and paying down debt. Further, those with a
financial plan to save are more likely to feel better prepared and more confident about their retirement.