How personality traits and economic beliefs shape financial capability and literacy

An emerging body of international literature is beginning to reveal a significant connection between financial capability metrics and personality, suggesting that what influences our financial well-being may be more nuanced than we previously thought. 

This report investigates how the inclusion of personality traits impacts the analysis of the gender difference in financial capability scores.



The impact of personality traits: a fresh look at gender differences in financial literacy

An emerging body of international literature is beginning to reveal a significant connection between financial capability metrics and personality, suggesting that what influences our financial well-being may be more nuanced than we previously thought.

This study investigates how the inclusion of personality traits impacts the analysis of the gender difference in financial capability scores.



Canadian Financial Diaries

The Canadian Financial Diaries Research Project is using the financial diaries methodology to understand the financial dynamics of vulnerable Canadians in a rapidly changing socio-economic context. This includes understanding the barriers and opportunities that people face in trying to improve their financial and overall well-being.

The website shares research insights and news about the project as the different phases of research are synthesized. 



The Perils of Living Paycheque to Paycheque

This report, 'The Perils of Living Paycheque to Paycheque: The relationship between income volatility and financial insecurity', examines the relationship between income instability and broader measures of financial well-being.  

This study makes use of a unique dataset that collected self-reported month-to-month volatility in household income, measures of capability, financial knowledge and psychological variables.

One in three adult Canadians reported at least some volatility in their monthly incomes, with six per cent reporting that the source and amount were both uncertain. Income volatility is present across a wide swath of the survey respondents, regardless of gender, family status, region of the country, education level and even income sources. Income volatility is correlated with lower financial knowledge, lower financial capability, and stronger beliefs that financial outcomes are up to fate and outside of personal control.



Enhancing access to the Canada Learning Bond


This discussion paper responds to a request from ESDC to develop options for reforms to the Canada Education Savings Program and, more specifically to improve access to the Canada Learning Bond. It reviews individual and institutional challenges to participation in the current system and consider three approaches for reform. It presents a case study of the United Kingdom’s Child Trust Fund, which included an auto-enrolment default mechanism. It concludes that the model used in the UK is not suitable for Canada and instead make a series of recommendations for both incremental and more ambitious reforms to fulfill the Government’s commitment to improve access to the Bond.




Financial Empowerment and Alleviating Poverty in Canada: A concept paper

Microdata on household vulnerability in Canada: 1999 to 2014


This paper contributes to the literature on the state of household finances in Canada by constructing new indicators using Canadian microdata based on Canadian and international literature. Using data from the Survey of Financial Security (1999, 2005 and 2012), and also the Canadian Financial Capability Survey (2008 and 2014), it reports on 10 separate indicators of household financial vulnerability. Using logistic regression, it also models selected household characteristics that appear to serve as protective or risk factors for each measure of financial vulnerability. The goal is not to dispute analysis of aggregate data from macroeconomic sources, but instead to complement it, contributing to a more nuanced picture of trends and the current state of household finances in Canada




Health Check: Low-income Household Finances in Canada

The case for Financial Literacy: Assessing the effects of financial literacy interventions for low income and vulnerable groups in Canada

A new (and better) way to measure individual financial capability

Is it the Best of Times or the Worst? A Tale of Two Trends