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Thriving in the City: A Framework for Income and Health in Retirement

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Retiring on a low income

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Health indicators for First Nations adults living off reserve, Métis and Inuit adults, 2015 to 2022

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Quality of life indicators from the Canadian Social Survey, fourth quarter 2024

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Benefits of having a financial plan

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Property and Other Insurance

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Life & health insurance

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Canadians’ Financial Well-being: Summary of FCAC survey findings

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Guiding Your Journey: A Toolkit for Lump Sum Payments

Tools and resources

Financial Education

  • Dollars and sense, AFOA Canada – A suite of financial literacy workshops for Indigenous youth
  • Managing your money, Prosper Canada – A series of seven worksheets to help Indigenous individuals and families to set and work towards money goals. Available in English, French, Plains Cree and Ojibwe here: Managing your Money: Tools and tips to help you meet your goals
  • Financial Literacy for Indigenous Peoples, RBC – With a focus on lump sum payments this course is intended to provide knowledge about money and banking for all Indigenous Peoples .
  • Financial health & wealth, NWAC – A toolkit that includes information and worksheets on financial health topics. 
  • Money matters, ABC Money matters – Workbooks that are tailored for Indigenous Peoples on spending plans, banking basics, borrowing money, ways to save and smart shopping. 
  • Money stories, SEED – A customized money management training program for Indigenous youth. 
  • Financial literacy workshops for Canadians living in the North, CMHC – This workshop series will cover several areas related to purchase of a house from mortgages, to pre-approvals and home buying programs. 
  • Money minutes, First Nations Bank of Canada – One-minute-long recordings one a range of financial topics from budgeting to creating a rainy-day fund.  
  • Navigating Financial Empowerment for First Nations, First Nations Market Housing Fund – This article includes links to tools and resources to plan one’s financial journey
  • Financial Capability Workbooks, NWAC
    • Goal setting, mindset and savings
    • Income, expenses and budget
    • Banking and credit
  • Credit podcast, AFOA Canada – A Money Smarts podcast on how to build and keep credit in good shape 
  • Writing your own will: A guide for First Nations People Living on Reserve – A resource from AFOA British Columbia.
  • Retirement planning, First Nations Development Institute – a tip sheet on planning for retirement for First Nations in the United States. 
  • Building Native Communities; Financial Skills for families, Oweesta – A financial skills curriculum that will help people make informed decisions for themselves, their family and their community. 
  • Financial Connect: Indigenous Workbook, Bissell Centre – a basic financial services and identification (ID) for Indigenous peoples workbook 
  • Retirement Planning, First Nations Development Institute – an introductory guide to retirement planning
  • Building Native Communities; Financial Skills for families, Oweesta – A curriculum designed to help make informed financial decisions
  • A Guide to Financial Literacy: Money and Youth , CFEE – A guide for youth, parents and teachers to learn about different aspects of financial education. 
  • Indigenous Business Development Toolkit, Government of Ontario – This toolkit provides business development supports, tools and information to help you start and operate a successful business. 
  • Back to the basics of Personal Budgeting, CandoEDO – This webinar emphasizes how developing a successful Personal Finance Plan an help self, loved one and communities reach financial capability. 
  • Webinar series on Financial Literacy, NADF
    • Budgeting
    • Managing your cost of living and spending
    • Credit and debt management
    • Savings
    • Financial Planning

Tools and resources for lump sum payments

*Not Indigenous specific resource

  • It’s my life – how to build your financial wellness future, AFOA Canada – Narrated PowerPoints focusing on identifying goals, developing a financial wellness plan, getting support and consumer protection
  • It’s my life – am I prepared?, AFOA Canada – These workbooks help you picture your life in 2 years how would you like to spend your money. 
  • Sixties Scoop, It’s my life “How to build your financial wellness future!”, AFOA Canada – Understanding Sudden Wealth and planning for it.
  • Receiving a large amount of money from the government, FCAC – This resource includes links to tools on money goals, budgeting, paying debt, savings goals…)*
  • What to do when you get money from the government, FCAC – Options include cashing a cheque (and information around applicable fee), direct deposit and links to tools*
  • Managing a financial windfall, CIRO – With a focus on consumer protection, this resource shares ways to avoid frauds and scams but also ways to identify personal financial goals* 
  • You’ve just received a big amount of money. Now what?, FCAC – A cheat sheet of what to consider when receiving a large amount of money.*
  • How to manage Sudden Wealth in 7 steps, Smart Asset (US) – Advice and further reading on managing a large financial windfall*
  • How to manage sudden wealth, Wealth Management Canada- In this article both the emotional and financial aspects of receiving a lump sum payment are discussed*
  • How to deal with Sudden Wealth Syndrome and Manage Newfound Riches, Money Crashers – This article elaborates on what sudden wealth syndrome is and how to deal with it. 
  • Managing large amounts of sudden wealth, Investopedia (US) – Understanding the emotional toll of receiving an unexpected sum of money and how to plan for it with caution.  
  • Indigenous Women in Business- A best practices approach,  Aboriginal Business and Community Development Centre – Best practices to assist females entrepreneurs

Tools and resources for consumer protection

*Not Indigenous specific resource

Frauds and scams:

  • Protecting your money, RBC – This module from RBC’s Financial Literacy for Indigenous Peoples course covers banks and financial institutions, protecting oneself from frauds…

Elder financial abuse:

  • What every older Canadian should know about financial abuse, Federal/Provincial/Territorial Ministers Responsible for Seniors Forum – This page includes information on what financial abuse is, includes some examples and tips and safeguards you may implement to protect a loved one.*
  • The many faces of financial elder abuse, Ontario Securities Commission – Learn how to identify and prevent financial elder abuse, plus where to go for help if you or an older person you know is being financially exploited.*
  • Financial abuse can be elder abuse, First Nations Health Authority article outlines what elder financial abuse is, how you can help an Elder who is financially abused and where to get more information.  

Research, reports and guides

  • Indigenous Wealth Guide, Native Governance Center (US) – Understanding Indigenous wealth will help determine how to build Indigenous wealth.  
  • How Indigenous communities are regaining economic independence, CPA Canada – An increase in financial knowledge is laying the groundwork for greater autonomy.  
  • Indigenous Sovereign Wealth: Strengthening Indigenous Trust Knowledge, National Aboriginal Trust Officers Association – This report summarizes the results of Phase 1 of the Indigenous Sovereign Wealth Project and identifies the current issues with trusts.  
  • Sudden wealth – A consumer guide, Financial vulnerability task force (UK) – This guide helps readers understand the unique opportunities and challenges they could face from the acquisition of sudden wealth, how to safeguard it and what to look out for when you seek financial advice.  
  • Banking sector services for Indigenous Peoples, CBA – Banks in Canada recognize their responsibility to foster a more inclusive and sustainable future for Indigenous individuals, businesses and communities. This webpage outlines the services Canadian banks offer Indigenous Peoples.  
  • Learning by Doing: Financial Education for Native American Youth Receiving Large Lump-Sum Payouts, First Nations Development Institute –  This report outlines  experiential workshops offered to Shoshone youth in the US and the resultant evaluation
  • Promoting Financial Empowerment Through Building Native Communities- Financial Skills for families, Oweesta – This report agues that financial education curricula, uniquely adapted to the culture and needs of the intended audience is the cornerstone of effective financial education. 
  • The Shared Path: First Nations financial wellness, Prosper Canada & AFOA Canada – This report defines financial wellness in the context of First Nations Peoples and communities, reviews why it matters, provides a conceptual framework to help clarify the determinants of financial wellness, and identifies barriers, needs, best practices and principles for building the financial wellness of Indigenous individuals, families, and communities together.
  • Learning by doing: Financial Education for Native American Youth receiving large Lump-Sum payments, First Nations Development Institute – A process and evaluation report for youth managing lump sum payments

Ressources et outils

Éducation financière

  • Gérer votre argent: Outils et conseils pour vous aider à atteindre vos objectifs, Prospérité Canada – Une série de sept feuilles de travail pour aider les personnes et les familles autochtones à se fixer des objectifs financiers et à les atteindre. Disponible en anglais, français, cri des plaines et ojibwé.
  • Littératie financière pour Autochtones, RBC – Le cours « Littératie financière pour Autochtones RBC » vous procurera les connaissances nécessaires pour prendre des décisions éclairées et pour atteindre un bien-être financier durable.
  • Ateliers sur la littératie financière pour les Canadiens vivant dans le Nord, SCHL – Cette série d’ateliers couvrira plusieurs sujets liés à l’achat d’une maison, des hypothèques aux préapprobations en passant par les programmes d’achat de maisons.
  • S’y retrouver dans les ressources pour l’autonomisation financière des Premières Nations, Fonds pour les habitations du marché des premières nations – Cet article contient des liens vers des outils et des ressources permettant de planifier son parcours financier.
  • Boîte à outils pour le développement d’entreprises autochtones, les outils et l’information pour vous aider à démarrer et exploiter une entreprise rentable.

Outils et ressources pour les paiements forfaitaires

*Ressource qui n’est pas spécifiquement destinée aux Autochtones.

  • Recevoir une grosse somme d’argent , ACFC – Cette ressource comprend des liens vers des outils sur les objectifs financiers, le budget, le remboursement des dettes, les objectifs d’épargne…*
  • Que faire lorsque vous recevez de l’argent du gouvernement., ACFC – Les options comprennent l’encaissement d’un chèque (et des renseignements sur les droits applicables), le dépôt direct et des liens vers des outils.*
  • Gérer une rentrée d’argent providentielle, OCRI – Cette ressource, qui met l’accent sur la protection des consommateurs, propose des moyens d’éviter les fraudes et les escroqueries, mais aussi d’identifier les objectifs financiers personnels.*

Outils et ressources pour la protection des consommateurs.

*Ressource qui n’est pas spécifiquement destinée aux Autochtones.

Les fraudes et arnaques:

  • Comment gérer votre argent avec assurance, RBC – Ce module du cours Littératie financière pour Autochtones de RBC porte sur les banques et les institutions financières, la protection contre les fraudes…

Exploitation financière des personnes âgées :

  • Ce que tous les Canadiens âgés devraient savoir au sujet de l’exploitation financière, Forum fédéral, provincial et territorial des ministres responsables des aînés – Cette page contient des renseignements sur ce qu’est l’exploitation financière, des exemples et des conseils, ainsi que des mesures de protection que vous pouvez mettre en œuvre pour protéger un proche.*
  • Les nombreuses facettes de l’exploitation financière envers les personnes âgées, La Commission des valeurs mobilières de l’Ontario – Apprenez comment identifier et prévenir l’exploitation financière des personnes âgées, et où trouver de l’aide si vous ou une personne âgée que vous connaissez êtes victimes d’exploitation financière.*

Recherche, rapports et guides

  • Des communautés autochtones regagnent leur indépendance économique, CPA Canada – De meilleures connaissances financières jettent les bases d’une plus grande autonomie.
  • Services du secteur bancaire aux communautés autochtones, ABC Bancaire – Les banques du Canada reconnaissent leur responsabilité dans la promotion d’un avenir plus inclusif et durable pour les personnes, les entreprises et les communautés autochtones. Cette page Web présente les services que les banques canadiennes offrent aux Autochtones.  

     

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Six key takeaways from Welfare in Canada, 2023

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Housing costs on your mind?

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How to manage financial stress and avoid burnout

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Refund to Savings Canada Pilot Study Evaluation

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Welfare in Canada, 2023

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Café Scientifique: Driving multi-level action to improve financial wellbeing

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Insights summary: Building financial wellness in First Nations

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The Reducing the Impact of Financial Strain (RIFS) project

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How Best Buy Enabled a $1.5 Million Increase in Employee Emergency Savings

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Rainy Days Don’t Retire: Older Adults, Financial Shocks and the Promise of Emergency Savings Tools

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Microboard resources

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Experiences of Financial Stress and Supports in Caregivers During Pediatric Hospital Admission

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Financial Health Is Health: Addressing Acute and Chronic Financial Stress Across the Care Spectrum

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An unrecognized barrier to retirement income security: poor longevity literacy

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Data sheet: Breaking the Cycle of Financial Shame A Study By Coast Capital

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Charting a Course Towards a More Inclusive Financial System: Our Collective Call to Action

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Blueprint for Transformation: the 2023 Report of the National Advisory Council on Poverty

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The state of economic abuse in Canada

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Retirement hub

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An intelligent Martian asks a question that we can’t answer

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Canadians’ Financial Well-being: Summary of FCAC survey findings

https://learninghub.prospercanada.org/wp-content/uploads/2020/12/FCAC.png 152 225 Shermeen Beg https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Shermeen Beg2023-09-12 11:26:132023-09-12 11:26:14Canadians’ Financial Well-being: Summary of FCAC survey findings

Managing in tough times

Resources and Tools

Managing the cost of goods and paying bills

Budgeting resources
Five different budgeting methods – Prosper Canada
Cash flow budget template – PDF – Prosper Canada
Cash flow budget template – fillable PDF – Prosper Canada
Simple budget template – PDF – Prosper Canada
Simple budget template – fillable PDF – Prosper Canada
Ten ways to trim expenses – Prosper Canada
Ways to save at the grocery store – Prosper Canada
5 budgeting app ideas – Prosper Canada

Tracking spending/bills
Expenses tracking sheet – PDF – Prosper Canada
Expenses tracking sheet – fillable PDF – Prosper Canada
Tracking fluctuating expenses – Prosper Canada
Prioritizing Bills tool – Consumer Financial Protection Bureau (CFPB)
Spending tracker tool – CFPB
Cutting expenses tool – CFPB

Online budgeting tools
Budget Planner (free) – Financial Consumer Agency of Canada (FCAC)
Budget Calculator Spreadsheet (downloadable Excel sheet) – MyMoneyCoach.ca
Spending Habits Calculator – GetSmarterAboutMoney.ca
Personal Budgeting Course (no cost) – Momentum

Pro bono support
Financial planning – Financial Planning Association of Canada (FPAC)

Debt

Action planning

Steps to debt repayment – Prosper Canada
Determining debt payoff order – Prosper Canada
Dealing with debt– Prosper Canada
Making a plan to be debt free– Government of Canada
The 4 cornerstones of debt reduction strategies & budgeting– Credit Counselling Society
Getting out of debt– Credit Counselling Society
Information for consumers on the insolvency process– Office of the Superintendent of Bankruptcy (available in multiple languages)

More resources
Options you can trust to help with your debt – Office of the Superintendent of Bankruptcy
1:1 debt counselling – Credit Counselling Canada
Sample letters to creditors – Credit Counselling Society
Ways to build or rebuild credit and manage debt course (no cost) – Momentum 
How to improve your credit score: proven steps to success – Credit Canada

Housing and homelessness

Listing of agencies across Canada that may be able to help – The Canadian Alliance to End Homelessness
211 – United Way Canada
Subsidized housing in ON – Ontario Non-profit Housing Association

Benefits for housing 
Housing benefits – Government of Canada
Benefits wayfinder – Prosper Canada
Factsheet: Housing insecure individuals – Government of Canada

Resources for renters
Your rights when being evicted for renovations – Community Legal Education Ontario (CLEO)
Resources for renters facing eviction – Centre for Equality Rights in Accommodation 
Moving checklist – Community Legal Education Ontario (CLEO)
Ontario Renters’ guide – Community Legal Education Ontario (CLEO) 
How to negotiate a repayment plan with your landlord – Community Legal Education Ontario (CLEO)
Know your rights: eviction prevention – Canadian Centre for Housing Rights
Know your rights: rental housing basics – Canadian Centre for Housing Rights
Know your rights: record keeping for tenants – Canadian Centre for Housing Rights
Rent-Geared-to-Income Subsidy – City of Toronto
An infographic that explains when rent increases are legal – CLEO
A guide that explains when landlords can apply for an above guideline rent increase (AGI), how to prepare for a hearing to fight an AGI, and what happens after the hearing – CLEO 
Human Rights and Rental Housing in Ontario: A Self-Advocacy Toolkit – Canadian Centre for Housing Rights

Resources for specific groups
Housing options for seniors – Government of Canada
Toolkit for medical professionals in ON writing disability accommodation letters – Canadian Centre for Housing Rights
Friendship Centres for Indigenous people – National Association of Friendship Centres
Support services for victims of abuse – New Brunswick Government 
Housing for youth – 360º (York Region)  
Support for young mothers– Albion Centre (Toronto) 
Newcomer Information Centre Online– Achēv 
Paying your mortgage when experiencing financial difficulties– FCAC

Shelters
Housing and shelters – Salvation Army (Canada)
Disaster relief help – Canadian Red Cross (Canada)
Emergency and short-term housing in Ontario – Ontario Council of Agencies Serving Immigrants (Ontario)
For women facing domestic abuse – Shelter Safe (Canada)
Survivors of domestic violence – CAMH (Toronto)
Shelters – CAMH (Toronto)
Shelters for youth – Rest Centres (Peel Region) 

Food insecurity

Access to food

Find a food bank – Food Banks Canada
Regional food banks – Website Planet
Meals on wheels – Ontario Community Support Association 
211 – United Way Canada
Drop-in meal resource list for Toronto – Toronto Drop-in Network
Food exchange – Quest Vancouver
Good food organizations – Community Food Centres Canada
Akwe:go – Wasa-Nabin Student Nutrition Program – Ontario Federation of Indigenous Friendship Centres 
Friendship Centres for Indigenous people – Ontario Federation of Indigenous Friendship Centres 

Understanding food insecurity 
Tool for older adults: rate your eating habits! – Older Adult Nutrition Screening
Poverty Screening (Food Insecurity) – Canadian Nutrition Society

Ressources et outils

Gérer le coût des biens et les dépenses

Ressources pour établir un budget

5 façons différentes de faire un budget – Prospérité Canada
Budget de caisse – Prospérité Canada
Modèle de budget simple – Prospérité Canada
10 façons de réduire ses dépenses – Prospérité Canada
Moyens pour économiser à l’épicerie – Prospérité Canada

Suivre les dépenses/le paiement des factures 
Fichier de suivi des dépenses – Prospérité Canada
Suivi des dépenses variables – Prospérité Canada

Outils d’établissement de budget en ligne
Planificateur budgétaire – Agence de la consommation en matière financière du Canada  (ACFC)
Budget mensuel – Commission des valeurs mobilières de l’Ontario
Calculateur des Habitudes de Consommation – GerezMieuxVotreArgent.ca
Vidéos d’apprentissage en ligne — Notions de base sur les finances – Agence de la consommation en matière financière du Canada  (ACFC)  
Consultation budgétaire – Espace Finances

Dette

Planification des mesures

Les étapes pour rembourser des dettes– Prospérité Canada
Une dette envers qui? – Prospérité Canada
Gestion de la dette : Livret complet– Prospérité Canada
Faire un plan pour gérer vos dettes– Gouvernement du Canada
Croulez-vous sous les dettes? Information sur la procédure d’insolvabilité à l’intention des consommateurs– Bureau du surintendant des faillites

Autres ressources
Des options fiables pour vous aider avec vos dettes – Bureau du surintendant des faillites
Conseil en crédit – Conseil en crédit du Canada
Exemples de lettres aux créanciers – Conseil en crédit du Canada (disponible seulement en anglais)
Emprunter de l’argent- cours (gratuit) – Plateforme de compétences ABC
Qu’est-ce qu’un pointage de crédit?– TransUnion    
Associations de consommateurs de Québec – toutbiencalcule.ca 

Logement et itinérance

Recherche d’aide – Alliance canadienne pour mettre fin à l’itinérance
211 – Centreaide United Way 
Logement subventionné en Ontario – Association du logement sans but lucratif de l’Ontario (disponible seulement en anglais)

Prestations pour le logement
Prestations relatives au logement – Gouvernement du Canada 
Orienteur en mesures d’aide – Prospérité Canada
Personnes en situation de logement précaire – Gouvernement du Canada 
Accès au logement – Centre Francophone du Grand Toronto  
Répertoire des ressources en hébergement communcautaire et en logement social avec soutien communautaire, Réseau d’aide aux personnes seules et itinérantes de Montréal

Ressources pour les locataires
Être expulsé de son logement en raison de rénovations – Éducation juridique communautaire Ontario
Comment s’opposer à une expulsion – Éducation juridique communautaire Ontario
Louer un logement – Éducation juridique communautaire Ontario
Comment négocier un plan de remboursement avec votre locateur – Centre ontarien de défense des droits des locataires
Votre propriétaire veut-il que vous déménagiez? – Éducation juridique communautaire Ontario
Droit du logement (vidéos) – Éducation juridique communautaire Ontario
Entretien et réparations – Éducation juridique communautaire Ontario 
Déménager : Donner un préavis – Éducation juridique communautaire Ontario
Logements à loyer indexés sur le revenu – Ville de Toronto 
Les comités logement et associations de locataires du Québec – Regroupement des comités logement et associations de locataires du Québec (RCLALQ)  Comités logement – Le Front d’action populaire en réaménagement urbain (FRAPRU)

Ressources pour des groupes particuliers
Coût des résidences pour les aînés – Gouvernement du Canada 
Trousse d’outils pour les professionnels de la santé sur la rédaction de lettres concernant des mesures d’adaptation pour une personne en situation de handicap – Centre canadien pour le droit au logement (disponible seulement en anglais)
Association nationale des centres d’amitié – L’Association nationale des centres d’amitié
Services de soutien pour les victimes de violence – Gouvernement du Nouveau-Brunswick 
Logement pour les jeunes – 360º (Région de York)  
Soutien aux jeunes mères– Centre Albion (Toronto) 
Maison d’amitié– Maison d’amitié (Ottawa)  
Payer votre hypothèque lorsque vous éprouvez des difficultés financières– ACFC

Refuges
Services d’hébergement – l’Armée du Salut (Canada)
Aide aux personnes sinistrées – La Croix-Rouge canadienne (Canada)
Logement d’urgence et à court terme en Ontario – Ontario Council of Agencies Serving Immigrants (disponible seulement en anglais)
Pour les femmes victimes de violence – Hebergementfemmes.ca (Canada)
Survivants de violence familiale – Centre de toxicomanie et de santé mentale, Toronto (disponible seulement en anglais)

Insécurité alimentaire

Accès à la nourriture

Trouver une banque alimentaire – Banques alimentaires de Canada
La Popote roulante – Croix-Rouge canadienne 
211 – Centraide United Way 
Organisations pour la bonne nourriture – Centres communautaires d’alimentation du Canada 
Banques alimentaires – Banques alimentaires de Québec 
Dépannage alimentaire – Macommunaute.ca

Comprendre l’insécurité alimentaire
Évaluez vos habitudes alimentaires ! – Vérification de l’alimentation des adultes plus âgés
Dépistage de la pauvreté (insécurité alimentaire) – Société canadienne de nutrition

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Welfare in Canada, 2022

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Market basket measure research paper: Child care expenses

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Financial literacy, longevity, and retirement readiness




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Financial Planning: A Pathway to Improved Financial Resilience




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Distributions of household economic accounts for income, consumption, saving and wealth of Canadian households, first quarter 2023




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Overspending and Mental Health: Your Guide to Improving Your Financial Health




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Financial Health & Wealth

You worry about your family's physical, mental and spiritual health. You take care of yourself and make sure you and your family are healthy, safe and happy. Many people do not realize that you also need to be financially healthy. 

Financial wellness is understanding and managing your own money. Money is a big way that others control and influence our lives. Sometimes we need to depend on others to give us money and tell us what to do with money. Opening a bank account, understanding where your money is coming from, and saving money will help you to become financially independent and financially healthy. 

This report from The Native Women's Association of Canada covers the importance of financial health and has sections on financial information covering bank accounts, insurance, budgeting, saving, credit cards, car loans, income taxes and housing. 

 



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Financial wellness guide: questionnaire

CPA Canada developed the Financial Wellness Guide to help you understand money basics. Complete the online questionnaire to get straightforward tools and information, based on your financial situation, that will help you with your financial goals.



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The multiplying movement: the state of the children’s savings field 2022

The Multiplying Movement: The State of the Children’s Savings Field 2022 shares findings from Prosperity Now’s 2022 Children’s Savings Account (CSA) program survey. The report highlights the incredible growth of the field with over 4.9 million children and youth with CSAs across the US. In addition, this report analyzes trends among CSA programs and spotlights new programs across the country. As you will see in the report, the CSA field shows no signs of slowing down.  



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Consumer Vulnerability: Evidence from the Monthly COVID-19 Financial Well-being Survey

The Financial Consumer Agency of Canada’s (FCAC) COVID-19 Financial Well-being Survey, which began in August 2020, is a nationally representative hybrid online-phone survey fielded monthly, with approximately 1,000 respondents per month. The survey collects information on Canadians’ day-to-day financial management and financial well-being.

As of September 2022, the survey results show that over the past several months, financial hardships have increased for many Canadians due to the rapidly evolving economic environment. While financial vulnerability can affect anyone regardless of income, background or education, hardships have increased more for those living on a low income, Indigenous peoples, recent immigrants, and women, due to the disproportionate financial impact of the pandemic on these groups (households with low income, Indigenous people, new immigrants, and women.)

This brief report provides an overview of survey results collected between August 2020 and September 2022. In publishing this report, FCAC’s goal is to provide insight into the financial well-being of Canadians, to identify which groups are experiencing greater vulnerabilities and hardships, and to inform and target our collective response as financial ecosystem stakeholders.



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Rising prices and the impact on the most financially vulnerable: A profile of those in the bottom family income quintile

This study uses the 2022 Portrait of Canadian Society Survey to examine the impact of rising inflation on the lowest income Canadians. Using multiple pre-pandemic data sources, the study takes a closer look at people living in the bottom family income quintile, examining their family income, debt and assets levels, as well as some indicators of economic hardship.



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Consumer Price Index: Annual review, 2022

The Consumer Price Index (CPI) rose 6.8% on an annual average basis in 2022, following gains of 3.4% in 2021 and of 0.7% in 2020. The increase in 2022 was a 40-year high, the largest increase since 1982 (+10.9%). Excluding energy, the annual average CPI rose 5.7% in 2022 compared with 2.4% in 2021.

Price increases were broad-based in 2022, with prices up on an annual average basis in all eight major components. Canadians felt the impact of inflation, as prices for day-to-day basics such as transportation (+10.6%), food (+8.9%) and shelter (+6.9%) rose the most.

Both goods and services prices rose at a faster pace compared with a year earlier. Prices for goods were up 8.7% on an annual average basis in 2022, led by higher prices for non-durable goods such as food purchased from stores (+9.8%) and gasoline (+28.5%). Prices for services increased 5.0% in 2022, led by homeowners' replacement cost (+9.5%) and other owned accommodation expenses (+10.0%).

Year-over-year price growth accelerated each month in the first half of the year, reaching a high of 8.1% in June, and slowed in the second half of the year.



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Welfare in Canada, 2021

Using data provided by provincial and territorial government sources, Welfare in Canada, 2021 describes the components of welfare incomes, how they have changed from previous years, and how they compared to low-income thresholds.

Access the report here. 

During the launch event, the report’s authors, Jennefer Laidley and Mohy Tabbara, broke down the latest welfare income data from all 13 provinces and territories and presented the key takeaways.

Recorded on November 24, the Welfare in Canada, 2021 launch event started with a brief presentation of the report’s key findings, followed by a panel discussion.

Presenters:

  • Jennefer Laidley, Consultant; co-author of Welfare in Canada
  • Mohy Tabbara, Policy Advisor, Maytree; co-author of Welfare in Canada

Moderator:

  • Garima Talwar Kapoor, Director, Policy and Research, Maytree

Download the presentation

Watch the event recording

 



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The impact of COVID-19 on financial capability and asset building services.

The forced transition from in-person to online activities as a result of the COVID-19 pandemic has had a profound impact on how families and communities buy groceries, acquire medical care, and utilize social services. This rapid shift has raised important questions about how to address access and equity. AFN and the University of Wisconsin-Madison Center for Financial Security (CFS) conducted this study to better understand the transition to remote services among financial capability and asset building (FCAB) programs, which includes financial education, counseling, coaching, emergency assistance, benefits navigation, housing supports, workforce development, and other related services. The insights from this study can inform strategies for FCAB services going forward.

This brief reviews recommendations for funders and organizations seeking to learn from the financial capability service delivery models employed in the COVID-19 pandemic, especially related to replication of findings that lead to more equitable delivery practices, improved accessibility of services, and greater financial improvements for clients. Six region-specific briefs complement the national findings - Indiana, Louisiana, North and South Carolina, Oregon, Texas, and Washington.

This brief is generously supported by JPMorgan Chase & Co., MetLife Foundation, and Wells Fargo. 

If you missed the live webinar, watch the recording here.



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The increasing financial vulnerability of Canadian households

Resources

Presentation slides, handouts, and video time-stamps

Read the presentation slides for this webinar.

Download the Overview of Financial vulnerability of Low-Income Canadians: A Rising Tide

Time-stamps for the video recording:
00:00 – Start

6:05 – Agenda and Introductions

8:24 – Overview of Financial vulnerability, of low-income Canadians: A rising tide (Speaker: Eloise Duncan)

25:40 – Panel discussion: how increasing financial vulnerability is playing out in community and how policy makers should respond.

45:35 – Q&A

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Financial Vulnerability of Low-Income Canadians: A Rising Tide

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Accessible financial services incubator

Drive through a low-income neighborhood in virtually any American city and it quickly becomes apparent that the area’s financial health is at risk.

The giveaway? The abundance of payday lenders. According to the St. Louis Federal Reserve, there are now more than 20,000 of these organizations across the country—which tops even the ubiquitous McDonald’s storefront by roughly 40%.1

These alternative financial services providers offer short-term loans at interest rates that can top 400%. They appeal to desperate consumers with no access to traditional, more affordable credit and offer an immediate fix that can lead to months, if not years, of financial pain. In its Payday Lending in America series, the Pew Charitable Trusts reports that Americans spend roughly $7.4 billion (B) on payday loans each year.

Could traditional financial institutions find a way to deliver credit to this consumer niche without compromising their own health? The Filene Research Institute, a consumer finance think-and-do tank, hypothesized that the answer was yes. 

Read the full report. 



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Redefining financial vulnerability in Canada

Resources

Presentation slides, handouts, and video time-stamps

Read the presentation slides for this webinar.

Download the handout for this webinar: Flyer for ‘Redefining Financial Vulnerability in Canada: The Embedded Experience of Households’.

Time-stamps for the video recording:
3:31 – Agenda and Introductions
7:15 – Redefining financial vulnerability in Canada (speaker: Jerry Buckland and Brenda Spotton Visano)
24:33 – Audience poll question 1
27:07– Audience poll questions 2 & 3
33:57 – Audience poll question 4
38:00 – Financial Empowerment (Speaker: Margaret Yu)
52:15– Q&A

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Social prescribing: A holistic approach to improving the health and well-being of Canadians

Social prescribing is a means of connecting people to a range of community services and activities to improve their health and well-being. These services vary based on each person’s needs and interests, and can include food subsidies, transportation, fitness classes, arts and culture engagement, educational classes, peer-run social groups, employment or debt counseling, and more. Social prescribing is a holistic approach to healthcare that looks to address the social determinants of health, which are the non-medical factors that play a role in an individual’s overall health. These factors may include socioeconomic status, social inclusion, housing, and education.



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Canadian Institute for Social Prescribing

The Canadian Institute for Social Prescribing (CISP) is a new national hub to link people and share practices that connect people to community-based supports and services that can help improve their health and wellbeing.



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Emergency savings preparedness and perceptions

According to Employee Benefit Research Institute (EBRI), workers with household incomes of $75,000 or more are more than twice as likely to say they feel they can handle an emergency expense than those with household incomes of less than $35,000.

This report outlines the results of the 2022 survey that polled nearly 2700 Americans 25 and older. 



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Emergency savings features that work for employees earning low to moderate incomes

Workers earning low to moderate incomes (LMI) continue to face challenges in financial security. The COVID-19 pandemic exacerbated the financial situation of many workers earning LMI. Along with the current macroeconomic environment, it has become even more challenging to build liquid savings for unexpected expenses. In this brief, we will share insights from our latest research with DCIIA Research Retirement Center on how employers and service providers can build and offer emergency savings solutions that are inclusively designed for workers earning LMI.



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Thriving or surviving study 2022




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Action-oriented public health resources on financial wellbeing and financial strain

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Recognizing and responding to economic abuse

With speakers from CCFWE, Johannah Brockie - Program Manager for Advocacy and System Change and Jessica Tran - Program Manager for Education and Awareness, this webinar will guide you through the definition of economic abuse, how to identify an economic abuser, impacts of economic abuse, Covid-19 impacts, tactics, what you should do if you are a victim of economic abuse, and key safety tips.

Economic Abuse occurs when a domestic partner interferes with a partner’s access to finances, employment or social benefits, such as fraudulently racking up credit card debt in their partner’s name or preventing their partner from going to work has a devastating effect on victims and survivors of domestic partner violence, yet it’s rarely talked about in Canada.

It’s experienced by women from all backgrounds, regions and income levels but women from marginalized groups, including newcomers, refugees, racialized and Indigenous women, are at a higher risk of economic abuse due to other systemic factors.



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Economic Abuse: Coercive Control Tactics in Intimate Relationships

This infographic explores 3 forms of economic abuse and associated tactics used to coercively control intimate partners.

These abusive tactics are compounded by economic systems that systemically oppress groups including Black, Indigenous, and people of colour; people with disabilities; people with precarious immigration status; and gender-oppressed people.

Economic abuse consists of behaviours to control, exploit, and sabotage an individual’s resources. It limits the individual’s independence and autonomy.

Compared to financial abuse which usually only focuses on money, economic abuse includes a more expansive range of behaviour that affects things like employment, food, medicine, and housing. 

Economic abuse is often used to coercively control individuals, such as intimate partners. It occurs in conjunction with further forms of abuse, like physical and sexual violence. Economic abuse can make it more difficult for survivors to escape violence since they may not have the resources to secure long-term housing and employment while meeting basic needs for themselves and potentially their children.



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Children’s savings accounts: a core part of the equity agenda

Education after high school, or postsecondary education (PSE), is an important determinant of individuals’ future opportunities, as well as their health and even lifespan. Children’s Savings Accounts (CSAs) are programs that aim to increase access to PSE by building parents’ and children’s educational expectations and a “college-bound identity” starting early in children’s lives. CSAs are a vital part of the equity agenda that remain critically important even as other strategies are put in place to broaden postsecondary access.

CSAs programs provide children with savings accounts and financial deposits for the purpose of education after high school or other asset building. CSA program designs, enrollment procedures, and financial incentives vary widely across the U.S. CSAs have been flourishing at the local, city, and state levels over the past two decades.

CSAs’ unique value comes down to programs’ financial investment in children coupled with their capacity to bring children and families into frequent contact with information about planning for PSE, savings, and high expectations for the future.

 

 



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How financial empowerment services are helping Ontarians build financial health




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Welfare in Canada, 2020

Maytree released the 2020 edition of the Welfare in Canada report. For each province and territory, this report provides data and analysis on the total welfare income that households receiving social assistance would have qualified for in 2020, including COVID-19 pandemic-related supports.

Welfare in Canada is a series that presents the total incomes of four example households who qualify for social assistance benefits in each of Canada’s provinces and territories in a given year.

Welfare in Canada, 2020 looks at the maximum total amount that a household would have received over the course of the 2020 calendar year, assuming they had no other source of income and no assets. Some households may have received less if they had income from other sources, while some households may have received more if they had special health- or disability-related needs.

The report looks at:

  • Social assistance program eligibility tests for assets and earned income;
  • How welfare incomes vary across Canada;
  • The components of welfare incomes in each province and territory;
  • Long-term changes in welfare incomes in each province and territory; and
  • The adequacy of welfare incomes in each province compared to poverty and low-income thresholds.

In addition, this year the report includes a new section that looks at the adequacy of welfare incomes in each province over time, an analysis that hearkens back to past reports prepared by the National Council of Welfare. Also, please note that this report measures the adequacy of welfare incomes relative to both the Market Basket Measure (MBM) – Canada’s Official Poverty Line – and the Deep Income Poverty threshold (MBM-DIP), which is equivalent to 75 per cent of the MBM. This analysis will replace the low-income threshold comparisons in future reports. We hope these additions will be helpful for those using the report.

In each jurisdiction, the total welfare income for which a household is eligible depends on its specific composition. For illustrative purposes, this resource focuses on the welfare incomes of four example household types:

  1. Unattached single considered employable;
  2. Unattached single with a disability;
  3. Single parent with one child, age two; and
  4. Couple with two children, ages ten and 15.



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The Financial Resilience and Financial Well-Being of Canadians with Low Incomes (republished January 2024)

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P4P Planning Network Resource Hub

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The Well-Being and Financial Well-Being of Canadians: financially vulnerable households the most challenged

This brief discusses how more financially vulnerable Canadians are most challenged based on the Seymour Financial Resilience Index TM. This E-Brief builds on Statistics Canada Canadians' Well-being in Year One of the COVID-19 Pandemic report and Seymour’s February 2021 Index Release Summary.



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Ganohonyohk (Giving Thanks): Indigenous Prosperity

The Ganohonyohk/Prosperity Research Project explored how seven Indigenous Friendship Centre communities in Ontario understood the concept of prosperity. The guiding research question of “How do urban Indigenous Friendship Centre communities in Ontario view a prosperous/wealthy life?” was used to gauge the meaning of prosperity through a community driven lens.

This strength-based research explores culturally appropriate approaches to urban Indigenous prosperity and considers the role of Friendship Centres in promoting prosperity. It concludes that approaches to Indigenous prosperity need to be context-specific and allow for self-determination in establishing communities’ priorities.



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Household economic well-being during the COVID-19 pandemic, experimental estimates, fourth quarter 2020

A highlight of some of the findings reported in this briefing:

  • Disposable income declined for most households in the fourth quarter of 2020, with the largest losses for the lowest-income earners (-10.2%).
  • Compensation of employees—of which wages and salaries make up the largest share—was up in the fourth quarter.
  • The most pronounced wage losses were experienced by the lowest-income (-5.3%) and the youngest (-3.1%) households, as many people in these households work in industries or jobs hard hit by the pandemic.
  • There was a decline in COVID-19-specific support measures and a significant rise in EI benefits in the fourth quarter of 2020.
  • Overall consumption expenditure was down in 2020 compared with 2019.
  • Net saving for many households declined as their disposable income decreased and consumption edged up.
  • The debt-to-income ratio increased the most for households in the lowest income quintile.

 



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The effects of child tax benefits on the income of single mothers

The financial resources available to families with young children are an important factor affecting child development, and they can have long-term impacts on socioeconomic outcomes in adulthood.

This article summarizes the findings of a new study using Statistic Canada’s data and analyzes the effects of expanding child tax benefits on after-tax income among single mothers, in the context of the 2015 reform to the Universal Child Care Benefit (UCCB) and the 2016 introduction of the Canada Child Benefit (CCB).



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Economic impact of COVID-19 among Indigenous people

This article uses data from a recent crowdsourcing data initiative to report on the employment and financial impacts of the COVID-19 pandemic on Indigenous participants. It also examines the extent to which Indigenous participants applied for and received federal income support to alleviate these impacts. As Canada gradually enters a recovery phase, the article concludes by reporting on levels of trust among Indigenous participants on decisions to reopen workplaces and public spaces.



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Measuring the Financial Well-Being of Hispanics: 2018 Financial Well-Being Score Benchmarks

This report provides a foundational set of benchmarks of the financial well-being of Hispanics ages 18 and older in the United States in 2018, as measured by the CFPB Financial Well-Being Scale, that practitioners and researchers can use in their work. The benchmarks were developed using data from the FINRA Foundation’s 2018 National Financial Capability Survey. This report specifically shows financial well-being score patterns for Hispanic adults by socio-demographics, financial inclusion, safety nets, and financial literacy factors. The report highlights key findings in the data and the implications for organizations that are planning to use the benchmarks.



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Nurturing Supporting Relationships: The Foundation to a Secure Future

This handbook provides a guide for actions to take when nurturing supporting relationships for people living with a disability.



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Financial Anxiety and Stress among U.S. Households: New Evidence from the National Financial Capability Study and Focus Groups




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Control, Sufficiency, and Social Support Lessons from Low-income Canadians about Financial Wellbeing

This report examines how diary participants achieve the financial wellbeing that they have. The evidence we found is that low-income people work very hard to manage their finances. They endeavor to control their finances so that, as one participant said, their finances don’t control them. They must prioritize needs and wants because there is not enough for both. One participant talked about her goal of having a ‘little bit more’ than her needs so that there was a little extra for savings or small purchases or trips. Finally, we saw that family and friends are terribly important for achieving financial wellbeing because social supports can provide loans, gifts, and emotional support. Having a low-income means that banks offer few financial supports. Of course, family and friends also make demands.

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The Differential Impact of the Pandemic and Recession on Family Finances

This report summarizes the results of a follow-up survey with nineteen low- and modest-middle income Winnipeggers, undertaken in June through September 2020. These respondents were drawn from the 29 Canadian Financial Diaries (CFD) participants who completed a year-long diary in 2019. The results of the survey illustrate that low- and moderate-income earners are feeling stressed with increased expenses and uncertainty about future economic stability.

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Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience

The federal budget released on April 19, 2021 covers the Canadian government's plan for:

  • Part 1 - Finishing the Fight Against COVID-19
    • Chapter 1: Keeping Canadians Healthy and Safe
    • Chapter 2: Seeing Canadians and Businesses Through to Recovery
  • Part 2 - Creating Jobs and Growth
    • Chapter 3: New Opportunities for Canadians
    • Chapter 4: Helping Canadian Businesses Grow and Succeed
    • Chapter 5: A Healthy Environment for a Healthy Economy
    • Chapter 6: Strengthening the Cities and Communities We Call Home
  • Part 3 - A Resilient and Inclusive Recovery
    • Chapter 7: A More Equal Canada
    • Chapter 8: Strong Indigenous Communities
    • Chapter 9: Protecting Our Shared Values
  • Part 4 - Fair and Responsible Government
    • Chapter 10: Responsible Government



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Canadians’ Well-being in Year One of the COVID-19 Pandemic




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Financial Relief Navigator

The Financial Relief Navigator is an online tool that can help you find support to raise your income or lower your expenses in these challenging times.

The tool will suggest income benefits or other support programs you may be eligible for in your province/territory in Canada. 

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Financial Well-Being: A Conceptual Model and Preliminary Analysis

Based on an extensive literature review and re-analysis of existing qualitative data, this report offers a working definition and an a priori conceptual model of financial well-being and its possible determinants. Using survey data from Norway (2016), ten regression models have been conducted to identify the key drivers of financial well-being and enhance the understanding of the underlying mechanisms responsible for the unequal spread of well-being across the population. The preliminary analyses in this report were consistent with both the definition and the model, albeit with some nuances and unexplained effects.

The empirical analysis identified three sub-domains of financial well-being. It was found that all three measures share three behaviours as their main drivers: ‘active saving’, ‘spending restraints’ and ‘not borrowing for daily expenses’. Also, ‘locus of control’ stood out as an important explanatory variable, with significant impacts on all three levels of well-being. Beyond that, some distinguishing characteristics were identified for each of the measures.

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Colour of Poverty – Colour of Change

There is a growing "colour-coded" inequity and disparity in Ontario that has resulted in an inequality of learning outcomes, of health status, of employment opportunity and income prospects, of life opportunities, and ultimately of life outcomes. Colour of Poverty-Colour of Change believes that it is only by working together that we can make the needed change for all of our shared benefit

These fact sheets provide data to help understand the racialization of poverty in Ontario. 



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Growing household financial instability: Is income volatility the hidden culprit?

On March 9th, 2018, leading American and Canadian researchers and policy makers from all sectors gathered in Toronto to explore the question: Growing household financial instability: Is income volatility the hidden culprit? The policy research symposium was an invitational event co-hosted by the Investment Industry Regulatory Organization of Canada (IIROC) and Prosper Canada. Its purpose was to shine a light on an issue that has gained prominence in US economic and policy circles but was just emerging as a topic for exploration in Canada in the context of
growing household financial instability.

This report summarizes key insights, conclusions and next steps from the symposium in the hopes that it will inform, catalyse and support further action on this issue. To view the conference agenda and links to all conference presentations, please see Appendix 1. Presentation videos can be found online at
https://www.youtube.com/playlist?list=PLC0J2kAG0MZZ5gd_6ZaHjqqEcenL2jCtP



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Cross Canada Check-up (updated March 2021)

Canada ranks consistently as one of the best places to live in the world and one of the wealthiest. When it comes to looking at the financial health of Canadian households, however, we are often forced to rely on incomplete measures, like income alone, or aggregate national statistics that tell us little about the distribution of financial health and vulnerability in our neighbourhoods, communities or provinces/territories.

The purpose of this report is to examine the financial heath and vulnerability of Canadian households in different provinces and territories using a new composite index of household financial health, the Neighbourhood Financial Health Index or NFHI.

This report is an update of Cross Canada Check-up: Provincial/territorial findings from Canada's Neighbourhood Financial Health Index published in 2018. 
 
Update July 22, 2022: Please note that the Neighbourhood Financial Health Index is no longer available



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Social Determinants of Health: The Canadian Facts (2nd edition)

Social Determinants of Health: The Canadian Facts, 2nd edition, provides Canadians with an updated introduction to the social determinants of our health. We first explain how living conditions “get under the skin” to either promote health or cause disease. We then explain, for each of the 17 social determinants of health:

  1. Why it is important to health;
  2. How we compare on the social determinant of health to other wealthy developed nations; and
  3. How the quality of the specific social determinant can be improved.

Improving the health of Canadians is possible but requires Canadians to think about health and its determinants in a more sophisticated manner than has been the case to date. The purpose of this second edition of Social Determinants of Health: The Canadian Facts is to stimulate research, advocacy, and public debate about the social determinants of health and means of improving their quality and making their distribution more equitable.



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10: A Guide for a Community-Based COVID-19 Recovery

Our cities and communities are where people live. It is here we see the effects of public policy and it is here where we will address the issues that matter most to Canadians. The choices made today will impact Canada’s recovery from COVID-19. If we want a future where our cities are thriving, we need to work together to achieve a collective community-based response. We are all in this together and it will take all of us in a community to find our way through.

If you are a community leader, such as a mayor, an elected official, a business leader, a community activist, or a concerned citizen, this guide was written for you. We created it to be accessible and easy to use, with five sections and links to resources throughout.



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Financial Well-being among Black and Hispanic Women

This paper provides an in-depth examination of the financial well-being of Black and Hispanic women and the factors contributing to it, using the 2018 wave of the National Financial Capability Study. Differences between Black and Hispanic women versus White women are documented, in that the former are more likely to face economic challenges that depress financial well-being. Controlling for differences in socio-demographic characteristics, there are important differences in the factors that contribute to financial well-being for Black and Hispanic women compared to White women. This includes distinct impacts of education, family structure, employment, and financial literacy. Results imply that extant financial education programs inadequately address the needs of Black and Hispanic women.



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The Inequality of Poverty

This report explores the connections between low income, poverty and protected characteristics, how these can shape the experience of poverty, and whether this can result in a similar inequality in terms of when and how poverty premiums are incurred. COVID-19 has thrown light on the link between insecure work, low incomes and protected characteristics, with an opportunity for this link to be formally recognised. The pandemic, and the economic consequences look likely to throw many more people into poverty, and this poverty is falling hardest on those with protected characteristics.

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Cash Value: How The Financial Clinic Puts Money into the Pockets of Working Poor Families

Practitioners engaged in the nascent field of financial development lack a shared system of tracking and analyzing customer progress toward financial security. Practice leaders—ranging from direct service organizations such as the Chicago-based LISC to NeighborWorks America of Washington, D.C.—define customer progress by their individual outcomes frameworks. But without uniform outcomes measures to assess our customers’ progress—and thus, our own performance—the field as a whole is handicapped. Many factors contribute to this problem, two being most prominent: organizations are grounded in distinct theories of change, are funded by a variety of sources with their own expectations, and lack of clarity about how to measure aspects of our work.

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Change Matters Volume 2: Assets

This is the second brief in a new series from The Financial Clinic. Change Matters leverages the data gathered through our revolutionary financial coaching platform, Change Machine, alongside the voices, wisdom, and lived experiences of Change Machine customers. We hope that our action oriented analysis will lead to positive social change. We believe we have a responsibility to ask the right questions, to use our data for good, and to inspire products, practice, and policy innovations that centralize the needs of the working-poor in building economic mobility.



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The Pivotal Role of Human Service Practitioners in Building Financial Capability

This report shares remarks by Mae Watson Grote, Founder and CEO of The Financial Clinic, at the Coin A Better Future conference in May 2018.

The journey from financial insecurity to security, and eventually, mobility—what we conceptualize and even romanticize as the quintessential American experience—is one that far too often ensnares people at the insecurity stage, particularly those communities or neighborhoods that have historically been marginalized and deliberately excluded from the traditional pathway towards prosperity. Fraught with debt and credit crises, alongside a myriad of predatory products and lending practices, to a sense of stigma and shame many Americans feel because of their economic status, financial insecurity involves navigating a world on a daily basis where everyday needs are at the mercy of unjust and uncontrollable variables.



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Effective Programs and Policies for Promoting Economic Well-Being




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CPA Canada 2020 Canadian Finance Study

Chartered Professional Accountants of Canada (CPA Canada) has released its comprehensive Canadian Finance Study 2020, which examines people's attitudes and feelings towards their personal finances. The results highlight the new financial realities that Canadians are experiencing during these unprecedented times.

Nielsen conducted the CPA Canada 2020 Canadian Finance Study via an online questionnaire, from September 4 to 16, 2020 with 2,008 randomly selected Canadian adults, aged 18 years and over, who are members of their online panel.

Among the key pandemic-related findings:

  • 31 per cent of the participants say their income has decreased as a result of COVID-19.
  • 30 per cent of respondents report COVID-19 has reduced the amount they are saving.
  • 21 per cent of pre-retired respondents reveal they now plan to retire later as a result of COVID-19.
  • COVID-19 also is impacting the way survey participants are spending, with 55 per cent saying they are spending less, on average.
  • Nearly half of the respondents (46 per cent) say that their financial situation is about the same as it was a year ago.
  • 77 per cent of those surveyed are not receiving a COVID-19-related benefit from the federal government.



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Connecting to Reimagine: Money & COVID-19 webinar series

This webinar series released by the Global Financial Literacy Excellence Center (GFLEC) features speakers from the public, private, and academic sectors.

Past and upcoming webinar topics include:

  • Navigating Retirement Security Through a Pandemic

  • Financial Literacy and Wellness Among Women

  • Financial Fragility During the Pandemic: The Path Forward

  • Optimizing National Strategies for Financial Education

  • Crafting Policies that Address Inequality in Saving, Wealth, and Economic Opportunities

  • Investor Knowledge and Behaviors in Times of Crisis

  • Increasing Financial Knowledge for Better Rebuilding

  • Designing an Inclusive Recovery

  • Millennials: Buttressing a Generation at Risk



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Inter-generational comparisons of household economic well-being, 1999 to 2019

This study of data from the Distributions of Household Economic Accounts compares households' economic well-being from a macro-economic accounts perspective, as measured by net saving and net worth for each generation when the major income earner for a household in one generation reached the same point in the life cycle as the major income earner for a household in another generation. The study finds that while younger generations have higher disposable income and higher consumption expenditure than older generations when they reached the same age, their net saving is relatively similar. As well, younger generations' economic well-being may be more at risk due to the COVID-19 pandemic since they depend more on employment as a primary source of income, they have higher debt relative to income, and they have less equity in financial and real estate assets from which to draw upon when needed.



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COVID-19: Exclusive resources for service provider heroes

Families Canada is the national association of Family Support Centres. With a network of 500+ member agencies and thousands of frontline family service workers across Canada, they committed to providing leadership and support in the campaign for Canada’s children.

Families Canada has compiled resources for service providers to support families during COVID-19.



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Financial Literacy and Wellness Among U.S. Women: Insights on Underrepresented Minority Women

The 2020 TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) survey was fielded in January 2020 and included an oversample of women. This enables examining the state of financial literacy and financial wellness among U.S. women immediately before the onset of COVID-19. A more refined understanding of financial literacy among women, including areas of strength and weakness and variations among subgroups, can inform initiatives to improve financial wellness, particularly as the United States moves forward from the pandemic and its economic consequences.



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Financial wellness: What is it? How do we make it happen?

Achieving financial wellness takes more than just financial resources. It also requires the ability to make good financial decisions and engage in sound money- management practices. To inform policies and programs that promote financial wellness—including those sponsored by employers—the TIAA Institute and the Global Financial Literacy Excellence Center held a roundtable discussion featuring a range of experts. This report presents the key findings and recommendations that emanated from the discussion. To learn more about the roundtable itself, visit TIAA Institute events page.



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Supporting the financial resilience of citizens throughout the COVID-19 crisis

This policy brief outlines initial the measures that policy makers can make to increase citizen awareness about effective means of mitigation for the impact of the COVID-19 pandemic and its potential consequences on their financial resilience and well-being.



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Launch of the OECD/INFE 2020 International Survey of Adult Financial Literacy

This report provides measures of financial inclusion including elements of financial resilience and a newly-created score on financial well-being.

Twenty-six countries and economies, including 12 OECD countries, participated in this international survey of financial literacy, using the 2018 OECD/INFE toolkit to collect cross-comparable data. The survey results report the overall financial literacy scores, as computed following the OECD/INFE methodology and definition, and their elements of knowledge, behaviour, and attitudes.

The data used in this report are drawn from national surveys undertaken using and submitted to the OECD as part of a co-ordinated measurement exercise; as well as data gathered as part of the OECD/INFE Technical Assistance Project for Financial Education in South East Europe.



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Managing Financial Health in Challenging Times

Managing financial health is difficult during ordinary times—and especially so in challenging times like the ones we're currently facing. Guest speaker RuthAnne Corley, the Senior Stakeholder Engagement Officer with the Financial Consumer Agency of Canada (FCAC), discusses how to manage your financial health despite external challenges.

RuthAnne joined FCAC in 2015 where she’s been instrumental in the development of Canada’s "National Strategy for Financial Literacy - Count me in, Canada" and its implementation. Prior to joining FCAC in 2015, RuthAnne managed stakeholder engagement and outreach activities at numerous federal departments and agencies.



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Achieving financial resilience in the face of financial setbacks

The Asset Funders Network (AFN) developed this primer to inform community-based strategies that can help economically-vulnerable families to better manage financial setbacks, shortfalls, and shocks. The goal of this brief is to provide a common understanding and language for funders and financial capability programs as part of a financial emergency toolkit.



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Race, Ethnicity, and the Financial Lives of Young Adults: Exploring Disparities in Financial Health Outcomes

Young adults of color, particularly those who are Black and Latinx, have borne a disproportionate share of economic hardship, as decades of systemic racism have made their communities more vulnerable to the effects of these crises. This report shares new data on the financial lives of young adults, focusing on Black and Latinx young adults, in order to inform policies, programs, and solutions that can improve financial health for all.



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Accessing Financial Literacy Education Programs: Barriers and opportunities for women living on low incomes

When women living on low incomes are able to access effective Financial Literacy Education (FLE) programs, they will be better positioned to fully participate in economic life, help build a stronger economy, and improve the quality of life for themselves, their families, and their communities.

This needs assessment was part of Families Canada’s 3-year project titled “Increasing financial literacy opportunities for women living on low incomes: An action plan for change.” Partners included the Canadian Credit Union Association and Vancity. Funding was generously provided by the Department for Women and Gender Equality. The project seeks to ensure organizations have the information they need to adapt their existing financial literacy initiatives and programs to better meet the needs of women living on low incomes. 



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The changes in health and well-being of Canadians with long-term conditions or disabilities since the start of the COVID-19 pandemic

This article examines how the self-reported health and mental health of people with long-term health conditions or disabilities has changed since the start of the COVID-19 pandemic explored by age, sex and type of reported difficulty. Additionally, the rates of health service disruptions are explored by type of service and region.



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Wealth and Health Equity: Investing in Structural Change

Building on the Asset Funders Network’s the Health and Wealth Connection: Investment Opportunities Across the Life Course brief, this paper details:

  • What we know about the health-wealth connection for adults.
  • Why investment in integration is important.
  • How philanthropy can contribute to improving health-wealth outcomes for adults.

On September 29th, AFN hosted a webinar to release the paper with featured speakers:

Dr. Annie Harper, Ph.D., Program for Recovery and Community Health, Yale School of Medicine
Joelle-Jude Fontaine, Sr. Program Officer, Human Services, The Kresge Foundation
Dedrick Asante-Muhammad, Chief of Race, Wealth, and Community, National Community Reinvestment Coalition



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Plan Institute Learning Centre

The Plan Institute Learning Centre presents workshops, webinars, publications and other resources for individuals and/or families of a person with a disability, support-care workers, and organizations.



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Building household financial security during COVID-19 and beyond

Resources

Presentation slides and time-stamps

Read the presentation slides for this webinar.

Time-stamps for the video recording:
3:26 – Agenda and introductions
6:18 – Audience polls
10:39 – Research presentation begins (BCG and Steven Ayer)
36:18 – What Prosper Canada is doing (Liz Mulholland)
42:31 – Q&A

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The Economic Toll of COVID-19 on SaverLife Members

SaverLife is an organization that seeks to advance savings programs, analytic insights, and policy initiatives through a network of employers, financial institutions, nonprofits and advocacy groups in the United States.

This report provides insight into the financial challenges presented by their savings program members during the COVID-19 pandemic from March to August of 2020.



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Measuring financial health: What policymakers need to know

This report provides an overview of financial health and the policy responses around the world. Based on this, and the key questions of whether financial health measure more than income and if financial inclusion supports financial health, the report offers recommendations to policy makers on strategies for measuring the financial health of their population.



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Weathering Volatility 2.0: A Monthly Stress Test to Guide Savings

In this report, the JPMorgan Chase Institute uses administrative bank account data to measure income and spending volatility and the minimum levels of cash buffer families need to weather adverse income and spending shocks.

Inconsistent or unpredictable swings in families’ income and expenses make it difficult to plan spending, pay down debt, or determine how much to save. Managing these swings, or volatility, is increasingly acknowledged as an important component of American families’ financial security. This report makes further progress toward understanding how volatility affects families and what levels of cash buffer they need to weather adverse income and spending shocks. 



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U.S. Financial Health Pulse: 2019 Trends Report

This report presents findings from the second annual U.S. Financial Health Pulse, which is designed to explore how the financial health of people in America is changing over time. The annual Pulse report scores survey respondents against eight indicators of financial health -- spending, bill payment, short-term and long-term savings, debt load, credit score, insurance coverage, and planning -- to assess whether they are “financially healthy,” “financially coping,” or “financially vulnerable”.  The data in the Pulse report provide critical insights that go beyond aggregate economic indicators, such as employment and market performance, to provide a more accurate picture of the financial lives of people in the U.S.



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Financial well-being in America

This report provides a view into the state of financial well-being in America. It presents results from the National Financial Well-Being Survey, conducted in late 2016. The findings include the distribution of financial well-being scores for the overall adult population and for selected subgroups, which show that there is wide variation in how people feel about their financial well-being. The report provides insight into which subgroups are faring relatively well and which ones are facing greater financial challenges, and identifies opportunities to improve the financial well-being of significant portions of the U.S. adult population through practice and research.



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Credit Characteristics, Credit Engagement Tools, and Financial Well-Being

This report presents results from a joint research study between the Consumer Financial Protection Bureau (CFPB) and Credit Karma. The purpose of the study is to examine how consumers’ subjective financial well-being relates to objective measures of consumers’ financial health, specifically, consumers’ credit report characteristics. The study also seeks to relate consumers’ subjective financial well-being to consumers’ engagement with financial information through educational tools.



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Understanding the Pathways to Financial Well-Being

The National Financial Well-Being Survey Report is the second report in a series from the Understanding the Pathways to Financial Well-Being project. 

In order to measure and study the factors that support consumer financial well-being, in 2015, the Bureau of Consumer Financial Protection (the Bureau) contracted with Abt Associates to field a large, national survey to collect information on the financial well-being of U.S. adults. The present report uses data collected from that survey to answer a series of questions on the relationship among financial well-being and four key factors: objective financial situation, financial behavior, financial skill, and financial knowledge. In this study, we aim to enhance understanding of financial well-being and the factors that may support it by exploring these relationships.



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Economic and Fiscal Snapshot 2020

The COVID-19 crisis is a public health crisis and an economic crisis. The Economic and Fiscal Snapshot 2020 lays out the steps Canada is taking to stabilize the economy and protect the health and economic well-being of Canadians and businesses across the country.



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Prosperity Now Scorecard

The Prosperity Now Scorecard is a comprehensive resource featuring data on family financial health and policy recommendations to help put all U.S. households on a path to prosperity. The Scorecard equips advocates, policymakers and practitioners with national, state, and local data to jump-start a conversation about solutions and policies that put households on stronger financial footing across five issue areas: Financial Assets & Income, Businesses & Jobs, Homeownership & Housing, Health Care and Education.



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Income Volatility: Why it Destabilizes Working Families and How Philanthropy Can Make a Difference

As the work environment has evolved and jobs look more different, it is important to understand the impact of these changes on income—predictability, variability, and frequency—and how this affects the opportunity for mobility. Because of the complexity of income volatility, there is a unique role for philanthropy.

This brief helps grantmakers understand the enormous challenges income volatility presents in America and provides an array of strategies for philanthropy to leverage both investments and leadership to empower families to protect themselves from volatility’s worst effects.



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Employer Solutions: From Emergency to Resiliency

In light of COVID-19, the financial security of workers has never been more in question. The workplace is an important delivery channel for tailored financial products and services that can help meet employee’s immediate financial needs and build long-term financial stability.

The workplace is a unique platform to identify, target, and meet the specific financial needs of employees. This webinar gives funders the tools and inspiration to respond effectively to the low- and moderate-income workforce in this moment and beyond.



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When a Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy

This report sheds light on the role employers and philanthropy can play in best promoting financial well-being for workers through the offering of Employee Financial Wellness Programs (EFWPs). Data suggests that EFWPs improve employees financial stability and help create a more productive work enviroment.



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Advancing Health and Wealth Integration in the Earliest Years

Despite the well-documented connection between health and wealth, investing in this intersection is still a new approach for many grantmakers. With the goal of inspiring increased philanthropic attention, exploration, and replication, this new spotlight elevates responsive philanthropic strategies that support both health and wealth.

This report focuses on the in utero-toddler stage of the life cycle (0-3 years). This age segment has some health-wealth integration activity, primarily through two-generation approaches. The goal is to inspire more philanthropic investment for this cohort by highlighting research and examples and offering recommendations.



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Understanding the perceived mental health of Canadians during the COVID-19 pandemic

While the physical health implications of the COVID‑19 pandemic are regularly publicly available, the mental health toll on Canadians is unknown. This article examines the self-perceived mental health of Canadians during the COVID‑19 pandemic and explores associations with various concerns after accounting for socioeconomic and health factors.

Just over half of Canadians aged 15 and older (54%) reported excellent or very good mental health during the COVID‑19 pandemic. Several concerns were also associated with mental health. Notably, after considering the effects of socioeconomic and health characteristics, women, youth, individuals with a physical health condition and those who were very or extremely concerned with family stress from confinement were less likely to report excellent or very good mental health.

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Supporting Financial Health Fintechs in Canada: Trends, Challenges, and Opportunities

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COVID-19 and support for seniors: Do seniors have people they can depend on during difficult times?

In an effort to avoid the spread of COVID-19, Canadians are engaging in physical distancing to minimize their social contact with others. However, social support systems continue to play an important role during this time. In particular, seniors living in private households may depend on family, friends or neighbours to deliver groceries, medication and other essential items to their homes. This study examines the level of social support reported by seniors living in private households.



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Canadian Perspectives Survey Series 1: Impacts of COVID-19 on job security and personal finances, 2020

Findings from a web panel survey developed by Statistics Canada on how Canadians are coping with COVID-19. More than 4,600 people in the 10 provinces responded to this survey from March 29 to April 3. In addition to content on the concerns of Canadians and the precautions they took to reduce the risk of exposure to COVID-19, the survey includes questions on work location, perceptions of job security, and the impact of COVID-19 on financial security.



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A workplace-based economic response to COVID-19

This brief emerged from a conversation, held in late March 2020, among a number of individuals and organizations who work on issues of household financial security. Employers with financial resources and governments have an opportunity to use the workplace as a significant channel to deliver financial relief as part of the economic response to COVID-19, complementing critical supports governments are providing to individuals and businesses. 



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COVID-19: Managing financial health in challenging times

This guide from the Financial Consumer Agency of Canada shares guidelines and financial tips to help Canadians during COVID-19. The topics include: getting through a financial emergency, where to ask questions or voice concerns, what to do if your branch closes, and more.

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Canadian Income Survey, 2018

This report from Statistics Canada shares data on median after-tax income and overall poverty rate decline based on 2018 data. 

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Working Without a Net: Rethinking Canada’s social policy in the new age of work

This report explores the implications of new technologies on Canada’s economy and labour market and the adequacy of current social programs and policies supporting workers.



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Economic volatility in childhood and subsequent adolescent mental health problems: a longitudinal population based study of adolescents

This research paper investigates the association between the patterns of duration, timing and sequencing of exposure to low family income during childhood, and symptoms of mental health problems in adolescence.



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Financial Health Index: 2019 Findings and 3-Year Trends Report

This report explores consumer financial health, wellness/ stress and resilience for Canadians across a range of financial health indicators, demographics and all provinces excluding Quebec. This report provides topline results from the 2019 Financial Health Index study and three-year trends from 2017 to 2019.



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Using Research to Improve the Financial Well-being of Canadians: Post-symposium Report

The Financial Consumer Agency of Canada (FCAC) co-hosted the 2018 National Research Symposium on Financial Literacy on November 26 and 27, 2018 at the University of Toronto, in partnership with Behavioural Economics in Action at Rotman (BEAR).

This report presents the key ideas and takeaways from the event, while shining a light on the research shaping new solutions designed to enhance financial well-being in Canada and around the world.



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2018 White Paper: Financial Wellbeing Remains Challenged in Canada

The study examines consumers’ financial knowledge and confidence levels; financial and money stressors, financial capability aspects and financial management behaviours and practices (across the financial services spectrum). The study also explores external or environmental factors such as income variability and the extent to which Canadians have access to and lever their social capital (i.e. their family and friends who can provide financial advice and/or support in times of hardship).

The study also explores consumer financial product and service usage, debt management and debt stress, access to financial products, services, advice and tools, usage of more predatory financial services (e.g. payday lending) and perceived levels of support by consumers’ primary Financial Institution for their financial wellness. The study also provides benefits of improved support for financial providers improving the financial wellness of their customers – including from a banking share of wallet and brand perspective.



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Canada’s Colour Coded Income Inequality

Canada’s population is increasingly racialized. The 2016 census counted 7.7 million racialized individuals in Canada. That number represented 22% of the population, up sharply from 16% just a decade earlier. Unfortunately, the rapid growth in the racialized population is not being matched by a corresponding increase in economic equality. This paper uses 2016 census data to paint a portrait of income inequality between racialized and non-racialized Canadians. It also looks at the labour market discrimination faced by racialized workers in 2006 and 2016. 

These data provide a glimpse of the likely differences in wealth between racialized and non-racialized Canadians. This paper also explores the relationship between race, immigration and employment incomes.

Taken together, the data point to an unequivocal pattern of racialized economic inequality in Canada. In the absence of bold policies to combat racism, this economic inequality shows no signs of disappearing.



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System transformation in Ontario Works: Considerations for Ontario

This paper focuses on proposed system transformation in Ontario Works, and explores the possibilities and limitations associated with the proposed changes in 2018. First, it looks at the broader context within which the government’s social assistance reforms are taking place. Second, it provides an overview of what is known about some of the structural changes in social assistance to date, as well as an overview of experiences in other jurisdictions that have undertaken similar reforms. In conclusion, the paper outlines some key considerations and unresolved questions that the government will need to address before it can move forward with a plan for reform.



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Getting Legal Help: A Directory of Community Legal Clinics in Ontario

This resource provides a directory of community legal clinics in Ontario.

Community legal clinics provide information, advice, and representation on various legal issues, including social assistance, housing, refugee and immigration law, employment law, human rights, workers' compensation, consumer law, and the Canada Pension Plan. Some legal clinics do not handle all of these issues, but staff may be able to refer you to someone who can help.

Community legal clinics are staffed by lawyers, community legal workers, and sometimes law students. Each legal clinic is run by a volunteer board of directors with members from the community. All help is private and confidential and provided free of charge.



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The shared path: First Nations financial wellness

English

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The shared path: First Nations financial wellness

French

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Un parcours commun : Le bien-être financier des Premières Nations

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Urban Spotlight: Neighbourhood Financial Health Index findings for Canada’s cities

This report examines the financial health and vulnerability of households in Canada’s 35 largest cities, using a new composite index of household financial health at the neighbourhood level, the Neighbourhood Financial Health Index or NFHI. The NFHI is designed to shine a light on the dynamics underlying national trends, taking a closer look at what is happening at the provincial/territorial, community and neighbourhood levels.

Update July 22, 2022: Please note that the Neighbourhood Financial Health Index is no longer available



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Canadians and their money: Key findings from the 2019 Canadian Financial Capability Survey

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.



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Financial well-being in Canada

Financial well-being is the extent to which you can comfortably meet all of your current financial commitments and needs while also having the financial resilience to continue doing so in the future. But it is not only about income. It is also about having control over your finances, being able to absorb a financial setback, being on track to meet your financial goals, and—perhaps most of all—having the financial freedom to make choices that allow you to enjoy life.

The Financial Consumer Agency of Canada (FCAC) participated in a multi-country initiative that sought to measure financial well-being. FCAC conducted this survey to understand and describe the realities of Canadians across the financial well-being spectrum and help policy-makers, practitioners and Canadians themselves achieve better financial well-being. This is in keeping with the Agency’s ongoing work to monitor trends and emerging issues that affect Canadians and their finances.



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Trends in the Citizenship Rate Among New Immigrants to Canada

This Economic Insights article examines trends in the citizenship rate (the percent of immigrants who become Canadian citizens) among recent immigrants who arrived in Canada five to nine years before a given census. The citizenship rate among recent immigrants aged 18 and over peaked in 1996 and declined continuously to 2016. Most of this decline occurred after 2006. The citizenship rate declined most among immigrants with low family income, poor official language skills, and lower levels of education. There was also significant variation in the decline among immigrants from different source regions, with the decline largest among Chinese immigrants.



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Helping Families Save to Withstand Emergencies

This brief identifies policy solutions to help American families build savings to withstand emergencies that threaten their financial stability.



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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. 



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Money on Your Mind

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Money stories: Financial resilience among Aboriginal and Torres Strait Islander Australians

This report builds on previous work on financial resilience in Australia and represents the beginning of an exploration of the financial resilience of Aboriginal and Torres Strait Islander peoples. Overall, we found significant economic disparity between Indigenous and non-Indigenous Australians. This is not surprising, given the histories of land dispossession, stolen wages and the late entry of Indigenous Australians into free participation in the economy (it is only 50 years since the referendum to include Aboriginal and Torres Strait Islander peoples as members of the Australian population).

Specifically, we found:

  • Only one in ten Indigenous Australians are financially secure.
  • Fewer than two in five Indigenous people can access $2,000 for an emergency, compared with four in five in the broader Australian population.

Severe financial stress is present for half the Indigenous population, compared with one in ten in the broader Australian population. Read the report to find out more about the financial barriers faced by Indigenous people in Australia, and the sharing economy in which money as a commodity can both help and hurt financial resilience.



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Backgrounder: Preliminary findings from Canada’s Financial Well-Being Survey

This backgrounder reports preliminary findings from a survey of financial well-being among Canadian adults. 

Preliminary analysis of the survey data indicates that two behaviours are particularly important in supporting the financial well-being of Canadians. First, our analysis indicates that Canadians who practice active savings behaviour have higher levels of financial resilience as well as higher levels of overall financial well-being. In other words, regardless of the amount of money someone makes, regular efforts to save for unexpected expenses and other future priorities appears to be the key to feeling and being in control of personal finances.

Secondly, Canadians who often use credit to pay for daily expenses because they have run short of money have lower levels of financial well-being. While this behaviour is likely symptomatic of low levels of financial well-being, our analysis indicates that a person can substantially improve their financial resilience and financial well-being by implementing strategies to reduce the frequency of running out of money and of having to rely on credit to get by.



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Short-term financial stability: A foundation for security and well-being

Short-term cushions are key to longer-term financial security and well-being. 

 

This report shines a light on the central role that short-term financial stability plays in a person’s ability to reach broader financial security and upward economic mobility, a measurement of whether an individual moves up the economic ladder over one’s lifetime or across generations.

The insights presented in this report draw primarily on evidence provided by members of the Consumer Insights Collaborative (CIC), a group of nine leading nonprofits across the United States convened by the Aspen Institute Financial Security Program. These diverse organizations offer a window into the financial lives of the low- and moderate-income individuals they serve.

 



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2019 First Annual Report of the Disability Advisory Committee: Enabling access to disability tax measures




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Trading Equity for Liquidity: Bank Data on the Relationship Between Liquidity and Mortgage Default

For many, homeownership is a vital part of the American dream. Buying a home represents one of the largest lifetime expenditures for most homeowners, and the mortgage has generally become the financing instrument of choice. For many families, their mortgage will be their greatest debt and their mortgage payment will be their largest recurring monthly expense.

In this report, we present a combination of new analysis and previous findings from the JPMorgan Chase Institute body of housing finance research to answer important questions about the role of liquidity, equity, income levels, and payment burden as determinants of mortgage default. Our analysis suggests that liquidity may have been a more important predictor of mortgage default than equity, income level, or payment burden.



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In sickness and in health: The association between health and household income

This study uses data from the Longitudinal and International Study of Adults (LISA) to analyze the association between health and household income.

Using data on both self-reported general health and self-report mental health, as well as self-reported labour-market outcomes and linked tax records, the association between spouse-pair labour-market income and health is further decomposed into an employment effect reflecting the association between health and the probability of employment, an hours worked effect reflecting the association between health and the number of hours worked, and a wage effect reflecting
the association between health and hourly wages.



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The income of Canadians

This infographic from Statistics Canada shows the median after-tax income of households, by province, as of 2016. It also shows changes in median government transfers, and number of people living on low incomes according to the after-tax low income measure. 



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Effective financial education: Five principles and how to use them

Because of the key role that financial education can play in people’s lives, the CFPB has conducted research over its first five years into what makes financial education effective for consumers. What do we mean by “effective?” It does not just mean training that helps people perform better on a test of financial facts. It means equipping consumers to understand the financial marketplace and make sound financial choices in pursuit of their life goals.

 

 



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Results from the Survey of Household Spending, 2017 (Infographic)

This infographic from Statistics Canada summarizes the results of the Survey of Household Spending, 2017, including average annual expenditures by household type. 



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Earnings Inequality and the Gender Pay Gap in Canada

This study from Statistics Canada explores how increases in top earnings and the representation of women among top earners affect the overall gender earnings gap in Canada. Results show that even though the representation of women in top earnings groups increased from 1978 to 2015, their continued under-representation in these groups accounted for a substantial and growing share of the gender gap in total annual earnings. 



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An Evaluation of Financial Empowerment Centers: Building People’s Financial Stability as a Public Service

This report is a three-year evaluation of the Financial Empowerment Center initiative’s replication in 5 cities (Denver, CO; Lansing, MI; Nashville, TN; Philadelphia, PA and San Antonio, TX). Financial Empowerment Centers (FECs) offer professional, one-on-one financial counseling as a free public service. The evaluation draws on data from 22,000 clients who participated in 57,000 counseling sessions across these first 5 city replication partners, and provides additional evidence of the program’s success. 



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Infographic: Labour market outcomes for college and university graduates, 2010 to 2014

This infographic from Statistics Canada shows the labour market outcomes for college and university graduates between 2010 and 2014. It shows the median employment income achieved by graduates of different education levels, 2 years and 5 years post-graduation. Overall, it shows that people with higher levels of post-secondary education report higher employment income post-graduation. 



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Economic Well-being Across Generations of Young Canadians: Are Millenials Better or Worse Off?

This article in the Economic Insights series from Statistics Canada examines the economic well-being of millennials by comparing their household balance sheets to those of previous generations of young Canadians. Measured at the same point in their life course, millennials were relatively better off than young Gen-Xers in terms of net worth, but also had higher debt levels.

Higher values for principal residences and mortgage debt mainly explain these patterns. Financial outcomes varied considerably among millennial households. Home ownership, living in Toronto or Vancouver, and having a higher education were three factors associated with higher net worth.



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The Economic Well-Being of Women in Canada

Economic well-being has both a present component and a future component. In the present, economic well-being is characterized by the ability of individuals and small groups, such as families or households, to consistently meet their basic needs, including food, clothing, housing, utilities, health care, transportation, education, and paid taxes. It is also characterized by the ability to make economic choices and feel a sense of security, satisfaction, and personal fulfillment with respect to finances and employment pursuits. 

Using Statistics Canada data from a variety of sources, including the Survey of Labour and Income Dynamics, the Canadian Income Survey, the Survey of Financial Security, and the 2016 Census of Population, this chapter of Women in Canada examines women’s economic well-being in comparison with men’s and, where relevant, explores how it has evolved over the past 40 years. In addition to gender, age and family type (i.e., couple families with or without children; lone mothers and fathers; and single women and men without children) are important determinants of economic well-being. Hence, many of the analyses distinguish between women and men in different age groups and/or types of families.

 



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Infographic: Canadian Payroll Association’s 2018 Survey of Employees

This infographic shows results from the 2018 Survey of Employees conducted by the Canadian Payroll Association. It shows some marginal improvements but also some concerns. 44% of Canadians are living paycheque to paycheque, 40% feel overwhelmed by debt, and 72% have saved only one quarter or less of what they feel they'll need to retire.

View full suite of news release and infographics from this survey, by province.



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NPW 2018 Employee Research Survey

Working Canadians seem to be making some minor progress towards improving their financial health. But, while 66% report being in a better financial position than a year ago, their debt levels remain high, they chronically undersave for retirement, and put themselves at severe risk in the event of economic changes. 

According to the Canadian Payroll Association’s tenth annual survey, 44% of working Canadians report it would be difficult to meet their financial obligations if their pay cheque was delayed by even a single week (down from the three-year average of 48%).

View full suite of news release and infographics from this survey, by province.

 



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Pervasive and Profound: The Impact of Income Volatility on Canadians

In this video presentation Derek Burleton of TD Economics shares findings from the report 'Pervasive and Profound,' which examines income volatility trends in Canada. The survey found that nearly 40% of Canadians experience moderate to high income volatility. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

View the full video playlist of all presentations from this symposium.

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Policy and research symposium: Income volatility

Resources

Talking to our neighbours: America’s household balance sheets

Household Financial Stability and Income Volatility, Ray Boshara, Federal Reserve Bank of St. Louis
Income volatility: What banking data can tell us, if we ask, Fiona Greig, JP Morgan Chase Institute
Up Close and Personal: Findings from the U.S. Financial Diaries, Rob Levy, CFSI

The good, the bad, and the ugly: Canada’s household balance sheets

Canada’s household balance sheets, Andrew Heisz, Statistics Canada

Income volatility and its effects in Canada: What do we know?

Pervasive and Profound: The impact of income volatility on Canadians, Derek Burleton, TD Economics
Income and Expense Volatility Survey Results, Patrick Ens, Capital One
Neighbourhood Financial Health Index: Making the Invisible Visible, Katherine Scott, Canadian Council on Social Development

What gets inspected, gets respected: Do we have the data we need to tackle household financial instability?

Do we have the data we need to tackle household financial instability?, Catherine Van Rompaey, Statistics Canada

Emerging solutions

Income volatility: Strategies for helping families reduce or manage it, David S. Mitchell, Aspen Intitute
Building consumer financial health: The role of financial institutions and FinTech, Rob Levy, CFSI
Redesigning Social Policy for the 21st Century, Sunil Johal, Mowat Centre
Strengthening retirement security for low- and moderate-income workers, Johnathan Weisstub, Common Wealth

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Financial Resources for End of Life




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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.



https://learninghub.prospercanada.org/wp-content/uploads/2019/02/CPA-PaychequePeril.png 150 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2019-02-13 16:37:092019-02-13 16:37:09The Perils of Living Paycheque to Paycheque

Indigenous Financial Literacy – AFOA 2014 Conference panel

This is the video recording of the AFOA 2014 Conference panel on Indigenous Financial Literacy. In this session, Liz Mulholland, Dr. Paulette Tremblay, Simon Brascoupe, and Darren Googoo discuss Indigneous financial wellness, financial literacy, and community education. 



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A Life-Cycle and Generational Perspective on the Wealth and Income of Millenials

Young adulthood is the life stage when the greatest increases in income and wealth typically occur, yet entering into this period during the Great Recession has put Millennials on a different trajectory. As a result, this generation will need to make very large gains in the years ahead to compensate for these shortfalls.

Understanding the dynamics of how the recession has impaired the financial outlook of Millennials, such as identifying how far behind they are compared to previous
generations of young adults, the impact of the recession on their current wealth holdings and earning potential, and the pace at which they’re recovering, is essential to developing appropriate policy interventions that can put them back on track.



https://learninghub.prospercanada.org/wp-content/uploads/2018/12/Millenials.png 150 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-12-05 11:35:042018-12-05 11:35:04A Life-Cycle and Generational Perspective on the Wealth and Income of Millenials

2018 Report Card on Child and Family Poverty in Canada: Bold Ambitions for Child and Family Poverty Eradication

The 2018 national report card “Bold Ambitions for Child Poverty Eradication in Canada,” provides a current snapshot of child and family poverty and demonstrates the need for a costed implementation plan to eradicate child poverty in this generation.

In advance of the 30th year of the all-party commitment to eliminate child poverty by the year 2000 and the federal election in 2019, our spotlight is on the central role of universal childcare in the eradication of child poverty. The lack of affordable, high quality childcare robs children of valuable learning environments and keeps parents, mainly women, out of the workforce, education and training. Without childcare, parents cannot lift themselves out of poverty and improve their living standards.



https://learninghub.prospercanada.org/wp-content/uploads/2018/11/ReportCard2018.png 150 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-11-22 16:47:032018-11-22 16:47:032018 Report Card on Child and Family Poverty in Canada: Bold Ambitions for Child and Family Poverty Eradication

Your Money, Your Goals: Focus on People with Disabilities

This is a companion guide to the 'Your Money, Your Goals' curriculum by the Consumer Financial Protection Bureau (CFPB) in the United States. This guide- Your Money, Your Goals: Focus on People with Disabilities—contains information, tips, and tools based on the insights from people with disabilities and from organizations that serve the disability community. It is based on the core philosophy that everyone has the right to control their money and make their own financial decisions.

Its specialized information and tools equip staff and volunteers to adapt training on and use of the toolkit and other resources to meet the needs of people with disabilities. It also includes information and tools to enable staff and volunteers to choose accessible locations, develop appropriate and considerate training activities, and plan to provide accommodations for diverse learning styles and other needs.

 



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Integrating Financial Capability Services into Tribal LIHEAP

This brief is a companion resource to Building Financial Capability: A Planning Guide for Integrated Services (also known as the Guide) and provides real-world examples of financial capability integration efforts. The brief shares lessons and approaches for how tribal-serving organizations can integrate financial capability services into LIHEAP and other emergency assistance services.

The brief highlights the experiences of two tribal serving organizations in Alaska that integrated financial capability services: the Kenaitze Indian Tribe and the Aleutian Pribilof Island Association (APIA). It is organized into three sections: understanding households’ financial lives, deciding which financial capability services to integrate, and assessing organizational and community capacity to plan for how to deliver services.



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Cross Canada Check-up: Provincial/territorial findings from Canada’s Neighbourhood Financial Health Index

Canada ranks consistently as one of the best places to live in the world and one of the wealthiest. When it comes to looking at the financial health of Canadian households, however, we are often forced to rely on incomplete measures, like income alone, or aggregate national statistics that tell us little about the distribution of financial health and vulnerability in our neighbourhoods, communities or provinces/territories.

The purpose of this report is to examine the financial heath and vulnerability of Canadian households in different provinces and territories using a new composite index of household financial health, the Neighbourhood Financial Health Index or NFHI. The NFHI has been designed to shine a light on the dynamics underlying these national trends, taking a closer look at what is happening at the provincial/territorial, community and neighbourhood levels.

Update July 22, 2022: Please note that the Neighbourhood Financial Health Index is no longer available



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Supporting Employee Financial Stability: How Philanthropy Catalyzes Workplace Financial Coaching Programs

More than half of all employees in the United States report that they are
financially stressed, and nearly one in three employees reports being distracted by personal financial issues while at work. This financial stress impacts individuals’ health, relationships, productivity, and time away from work.

This report describes different workplace  models, the common characteristics and challenges of programs, and provides recommendations for funders who want to invest in workplace approaches to help workers achieve financial stability. 



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Partenariat pour l’impact de l’autonomisation financière

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Strengthening retirement security for low- and moderate-income workers

In this video presentation Johnathan Weisstub from Common Wealth discusses recent improvements in senior Canadians' poverty levels due to benefits such as OAS and GIS, and the challenges that still remain in ensuring retirement security for modest-earning and low-income Canadians. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

View the full video playlist of all presentations from this symposium.



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How to use the ‘Managing your money’ resource

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Redesigning Social Policy for the 21st Century

In this video presentation Sunil Johal from the Mowat Centre explains how social policy in the 21st century could be redesigned to accommodate the changing nature of work and income in Canada.  

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



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Building consumer financial health: The role of financial institutions and FinTech

In this video presentation Rob Levy from the Center for Financial Services Innovation (CFSI) examines the role of financial institutions in building consumer financial health. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



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Income volatility: Strategies for helping families reduce or manage it

In this video presentation David Mitchell from the Aspen Institute explains strategies for mitigating and preventing income volatility at the household level.  

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

View the full video playlist of all presentations from this symposium.



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Do we have the data we need to tackle household financial instability?

In this presentation Catherine Van Rompaey of Statistics Canada examines the data we have available to measure financial instability in Canada - household debt, savings, and credit. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



https://learninghub.prospercanada.org/wp-content/uploads/2018/07/VanRompaey1.png 148 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-07-03 14:45:412023-05-18 13:17:59Do we have the data we need to tackle household financial instability?

Neighbourhood Financial Health Index: Making the Invisible Visible

In this video presentation Katherine Scott from the Canadian Council on Social Development (CCSD) shares the new Neighbourhood Financial Health Index, a mapping tool which uses composite data about income, assets, debt, and poverty to show levels of financial health at the neighbourhood scale.

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.

 

Update July 22, 2022: Please note that the Neighbourhood Financial Health Index is no longer available



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Income and Expense Volatility Survey Results

In this video presentation Patrick Ens from Capital One explains the impact of income and expense volatility on consumers. Capital One found that half of Canadian households surveyed experience some amount of income fluctuation month to month. This impacts their ability to save, cope with emergencies, and other aspects of their lives. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



https://learninghub.prospercanada.org/wp-content/uploads/2018/07/Ens1.png 148 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-06-28 16:49:212019-10-17 14:47:13Income and Expense Volatility Survey Results

Canada’s household balance sheets

In this video presentation Andrew Heisz from Statistics Canada explains the changing household assets, debt, and income levels of Canadians of different age generations.  

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

View the full video playlist of all presentations from this symposium.

https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png 0 0 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-06-28 16:39:452019-10-17 14:43:59Canada’s household balance sheets

Up Close and Personal: Findings from the U.S. Financial Diaries

In this video presentation Rob Levy from the Center for Financial Services Innovation (CFSI) shares some of the findings from the U.S. Financial Diaries project. He explains how the households in the study experience multiple "spikes" and "dips" in income and spending over the course of a single year.

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



https://learninghub.prospercanada.org/wp-content/uploads/2018/07/Levy1.png 148 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-06-28 16:32:102019-10-17 14:38:45Up Close and Personal: Findings from the U.S. Financial Diaries

Income volatility: What banking data can tell us, if we ask

In this video presentation Fiona Greig from the JP Morgan Chase Institute explains what banking data can tell us about income volatility in the United States.  

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



https://learninghub.prospercanada.org/wp-content/uploads/2018/07/Greig1.png 148 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-06-28 16:12:262019-10-17 14:35:41Income volatility: What banking data can tell us, if we ask

Household Financial Stability and Income Volatility

In this video presentation Ray Boshara of the Federal Reserve Bank of St. Louis explains how household financial stability has changed in the United States. He shows how education, age, and racial identity influence financial stability and wealth. 

This presentation was given at the Prosper Canada Policy Research Symposium on March 9, 2018.

Read the slide deck that accompanies this presentation.

Pour lire les diapositives de la présentation, cliquez ici.

View the full video playlist of all presentations from this symposium.



https://learninghub.prospercanada.org/wp-content/uploads/2018/07/Boshara1.png 148 225 Glenna Harris https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Glenna Harris2018-06-28 16:03:182019-10-17 14:34:31Household Financial Stability and Income Volatility

CFPB Financial Well-Being Scale Questionnaire


A financial well-being questionnaire developed by the Consumer Financial Protection Bureau. 




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Gig Workers in America: Profiles, Mindset and Financial Wellness


The Gig Worker On-Demand Economy survey was conducted online by Harris Poll on behalf of Prudential from January 5 to February 18, 2017, among a nationally representative (U.S.) sample of 1,491 workers including 514 full-time and 256 part-time traditional employees and 721 gig workers. Gig work was defined as providing a service or labor, and did not include renting out assets. Survey respondents were selected from among adults aged 18+ who had agreed to participate in online surveys from the Harris Poll Online panel and preferred sample partners.




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Financial Empowerment and Alleviating Poverty in Canada: A concept paper




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Unfinished Business Pension Reform in Canada


Since taking office in the fall of 2015, the Liberal government has made important changes to the publicly administered components of Canada’s retirement income system (RIS). It has restored the age of eligibility for benefits under Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) to 65, it has increased the top-up on GIS benefits for single elderly persons, and it has agreed with the provinces to enhance Canada Pension Plan (CPP) benefits, starting in 2019.
Each of these changes, on its own, contributes to one of the two main objectives of the RIS: to minimize the people’s risk of poverty in old age and to enhance their ability to retain their standard of living as they move from employment to retirement. However, as Bob Baldwin and Richard Shillington show in this study, when examined together, the changes are problematic and incomplete.




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Microdata on household vulnerability in Canada: 1999 to 2014

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Family Centered Coaching: A toolkit to Transform Practice & Engage Families


The Family-Centered Coaching Toolkit offers a set of strategies, tools, and resources that can help programs, agencies, case managers, coaches, and others change the ways they work with families striving to reach their goals. This set of resources, can undo, and redo, how one approaches working with families – to see families holistically, even though the funding streams and programs within which we work may not.




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We Tracked Every Dollar 235 U.S. Households Spent for a Year, and Found Widespread Financial Vulnerability


Income inequality in the United States is growing, but the most common economic statistics hide a significant portion of Americans’ financial instability by drawing on annual aggregates of income and spending. Annual numbers can hide fluctuations that determine whether families have trouble paying bills or making important investments at a given moment. The lack of access to stable, predictable cash flows is the hard-to-see source of much of today’s economic insecurity.




https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png 0 0 Jenni Bolton https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png Jenni Bolton2018-05-17 10:39:192018-05-31 15:48:32We Tracked Every Dollar 235 U.S. Households Spent for a Year, and Found Widespread Financial Vulnerability

Financial well-being in America


There is wide variation in how people in the U.S. feel about their financial well-being. This report presents findings from a survey by the Consumer Financial Protection Bureau (CFPB) on the distribution of financial well-being scores for the U.S. adult population overall and for selected subgroups defined by these additional measures. These descriptive findings provide insight into which subgroups are faring relatively well and which ones are facing greater financial challenges.




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Retiring on a low income: Learnings

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Future planning for people with disabilities

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Responses to and Repercussions from Income Volatility in Low- and Moderate-Income Households: Results from a National Survey


This is the second in a series of briefs produced by a partnership between the Aspen Institute’s Expanding Prosperity Impact Collaborative (EPIC), Washington University’s Center for Social Development (CSD), and the Intuit Tax and Financial Center. The first brief highlighted new data on the prevalence of income and expense volatility in low- and moderate-income households. This brief will focus on the potential consequences of volatility and how it relates to financial behavior.



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Indigenous financial wellness in Canada

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Financial supports for people with disabilities

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Income volatility in Canada

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Pervasive and profound: The impact of income volatility on Canadians

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Changes in wealth across the income distribution, 1999 to 2012

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Transition from Temporary Foreign Workers to Permanent Residents

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Chicago – The Cost of Eviction and Unpaid Bills of Financially Insecure Families for City Budgets

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Poverty Trends Scorecard – Fact Sheet Series – Income, Wealth, and Inequality

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The Monthly Stress-Test on Family Finances

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Pre-Budget Tour: The State of the Middle Class

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Report on the Economic Well-being of US Households in 2015

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Zambia Financial Diaries – Interim Report

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Understanding the Gaps in Postsecondary Education Participation Based on Income and Place of Birth: The role of high school course selection and performance

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Mobility Report Cards: The Role of Colleges in Intergenerational Mobility

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How Income Volatility Interacts With Americans Families’ Financial Security

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Closing the Racial Wealth Gap: Establishing and Sustaining an Initiative

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Tips for Providing Financial Capability Services to Immigrant Communities

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Financial wellness at work – A review of promising practices and policies

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Living arrangements of Aboriginal children aged 14 and under

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Canadian Demographics at a Glance – Second edition

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The influence of community well-being on mortality among Registered First Nations people

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Literacy and numeracy among off-reserve First Nations people and Metis – Do higher skill levels improve labour market outcomes

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First Nations, Metis and Inuit Women

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Nonstandard Work Schedules and the Well-Being of Low-Income Families

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Families of Color in the Quest to Build Wealth – A Special Report from CFED

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Canada’s Part-Time Conundrum

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How FinTech for Good Can Create Financial Health

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The fall and rise of Canada’s top income earners

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Job Polarization and the Great Recession

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Housing Costs and Financial Challenges for Low-Income Older Adults

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Equitable Investments in the Next Generation: Designing Policies to Close the Racial Wealth Gap

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Social and political attitudes of people on low incomes

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The association between skills and low income

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How are we doing on social policy? Is the recession paralyzing or transformative?

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Precarious Employment in Canada: Does the Evidence Square with the Anecdotes?

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On the Road: Exploring Economic Security Pathways in Indiana

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Barista or Better? Where Post-Secondary Education Will Take You

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The Cumulative Earnings of Postsecondary Graduates Over 20 Years: Results by Field of Study

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Grad Survey: Ontario University Graduates Are Securing Well-Paying Jobs in their Field

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The Survey of 2013 Graduates Shows The Best Path to Career Success is Still a University Degree

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Online/Offline: How Technology Can Empower Local Refugee Communities

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Financial Literacy and People Living with Disabilities

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Racial Wealth Divide in Miami

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Precarious Positions: Policy Options to Mitigate Risks in Non-standard Employment

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High-income trends among Canadian taxfilers, 2014

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Racial Wealth Divide in New Orleans

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Thrivers and Strugglers: The Balance Sheets and Financial Health of U.S. Families

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Building blocks to help youth achieve financial capability: A new model and recommendations

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Building blocks to help youth achieve financial capability: Report brief

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Social Determinants of Health: The Canadian Facts

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Financial well-being: What it means and how to help

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Thriving but Still Vulnerable in the U.S.

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Working Hard but Still Struggling

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Inclusive Employment for Canadians with Disabilities: Toward a New Policy Framework and Agenda

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Paychecks, Paydays, and the Online Platform Economy Big Data on Income Volatility

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Vulnerable Households and the Smart Grid in Ontario Emerging Challenges and Opportunities

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The childhood origins of social mobility: socio-economic inequalities and changing opportunities

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Do you know a woman who is being abused? A legal rights handbook.

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Report on Equality Rights of People with Disabilities

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Making a humanitarian and compassionate (H&C) application

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Humanitarian and compassionate (H&C) applications and refugee claims: how are they different?

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Canadians living pay cheque to pay cheque, challenged by debt and economy, payroll survey finds

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Fact Sheet: The Gender Wage Gap in Canada

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Budgeting for a Year with Lumpy Income

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Emergency Savings

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Relying on Erratic Income Sources

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Getting By With Limited Resources

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Income Gains and Month-to-Month Income Volatility: Household evidence from the US Financial Diaries

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Keeping Control by Relying on Cash

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Spikes and Dips: How Income Uncertainty Affects Households

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Welfare Re-form: The Future of Social Policy in Canada

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Toronto’s Vital Signs

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All In: Building the Path to Global Prosperity Through Financial Capability and Inclusion

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The Evolution of Household Income Volatility

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Aboriginal People and the Labour Market: Estimates from the Labour Force Survey, 2008-2010

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Women in Canada: A Gender-based Statistical Report

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Canadian and US Millenials: One of these is Not Like The Other

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Toronto Employment & Social Services Programs & Services

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An Analysis of the Economic Circumstances of Canadian Seniors

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Caught in the Middle: Some in Canada’s Middle Class Are Doing Well; Others Have Good Reason to Worry

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The Rise and Fall of Social Assistance Use in Canada, 1969-2012

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Environmental Scan of the Supply of Financial Capability Information Education and Advice in Canada

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Financial Empowerment: Improving financial outcomes for low-income households

Financial Empowerment is a new approach to poverty reduction that focuses on improving the financial security of low-income people. It is an evidence-driven set of interventions that have proven successful at both eliminating systemic barriers to the full financial inclusion of low-income people and providing enabling supports that help them to acquire and practice the financial skills and behaviours that tangibly improve their financial outcomes and build their financial security. The Financial Empowerment approach focuses on community level strategies that encompass five main types of interventions that have been identified as both necessary for low-income households to improve their financial outcomes, and effective at helping them to do so.

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Health Check: Low-income Household Finances in Canada

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Americans’ Financial Security: Perception and Reality

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The Role of Emergency Savings in Family Financial Security: What Resources do Families Have for Financial Emergencies?

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The Role of Emergency Savings in Family Financial Security: How do Families Cope with Financial Shocks?

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Moving On Up: Why Do Some Americans Leave the Bottom of the Economic Ladder, but Not Others?

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Unsteady Incomes Keep Millions Behind on Bills

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Income and Health: Opportunities to achieve health equity in Ontario

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Building Assets and Building Lives: Financial Capability Programs in Native Communities

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Income Volatility and Food Assistance Programs

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NYC’s Paid Sick Leave Law: First Year Milestones

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Debt and the Racial Wealth Gap

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Thriving Residents, Thriving Cities: Family Financial Security Matters for Cities

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EPIC Income Volatility Survey Findings

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Financial Capability of Adults with Disabilities. Findings from the FINRA Investor Education Foundation 2012 National Financial Capability Study

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Umbrellas Don’t Make it Rain: Why Studying and Working Hard isn’t Enough for Black Americans

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Income, Life Expectancy, and Community Health. Underscoring the Opportunity.

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The Panel Study of Income Dynamics: overview, recent innovations, and potential for life course research

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Emerging Models and Promising Practices: A “snapshot” of Community-based financial capability Practice in Canada

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Understanding the Financial Advocacy and Problem-Solving (FAPS) Model

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Pathways to Social and Economic Inclusion: An evaluation of the Financial Advocacy and Problem-Solving (FAPS) Program

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Weathering Volatility: Big Data on the Financial Ups and Downs of U.S. Individuals

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Income Volatility and Low-Income Households

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Financial Capability in the United States 2016

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The Workplace as a Platform for Financial Stability: A Profile of Working Bridges

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The Color of Wealth in Boston: A Joint Publication with Duke University and The New School

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The Color of Wealth in Los Angeles

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Report on the Economic Well-being of US Households in 2013

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Addressing Income Volatility of Low Income Populations

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Foundations of Financial Well-Being: Insights into the Role of Executive Function, Financial Socialization, and Experience-Based Learning in Childhood and Youth

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Monthly household income volatility in the U.S., 1991/92 vs. 2002/03

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The Rising Instability of American Family Incomes, 1969-2004: Evidence from the Panel Study of Income Dynamics

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Barista or Better? New evidence on the earnings of post-secondary education graduates: A tax linkage approach. Analysis of Bachelor’s Degree Programs

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The Tenuous Segment: 29 Million Coping, with Little Buffer for Financial Hurdles

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Report on Equality Rights of Aboriginal People

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How are Canadians Really Doing? The 2012 CIW Report

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Understanding and Improving Consumer Financial Health in America

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Designing for Financial Health: Stories and profiles from the Financial Capability Innovation Funds

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The Financially At Risk: Understanding the 12% of America That Experiences the Most Financial Stress

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The Financially Striving: How 16% of Americans Are Working Toward Better Financial Lives

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The Financially Unengaged: Reaching the 16% of Americans Who Aren’t In Touch With Their Financial Standing

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What It’s Worth: Strengthening the Financial Future of Family Communities and the Nation

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Summer Jobs Connect: Building Banking and Savings Programs in Summer Youth Employment

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Summer Jobs Connect. More than a Job: Lessons from the First Year of Enhancing Municipal Summer Youth Employment Programs through Financial Empowerment

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Empowering low income and economically vulnerable consumers

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Rigorous evaluation of financial capability strategies – Why, when and how

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Income Volatility: A Primer

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Income Volatility: Managing the Swings

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Recent Trends in the Variability of Individual Earnings and Household Income

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A New Framework for Achieving Household Financial Security

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Financial Capability Life Cycle

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Programs, Policies, Partnerships: Coming Together to Heal the Racial Wealth Divide

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The Steep Climb to Economic Opportunity for Vulnerable Families

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Summer Jobs Connect: Connecting Youth to Developmental and Financial Goals

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The Ever-Growing Gap: Without Change, African-American and Latino Families Won’t Match White Wealth for Centuries

https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png 0 0 John Smith https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png John Smith2017-11-29 09:28:282018-01-26 13:09:28The Ever-Growing Gap: Without Change, African-American and Latino Families Won’t Match White Wealth for Centuries

Highlights of women’s earnings in 2014

https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png 0 0 John Smith https://learninghub.prospercanada.org/wp-content/uploads/2018/01/Prosper_Canada_Hub_weblogo.png John Smith2017-11-29 09:28:182018-01-22 15:53:07Highlights of women’s earnings in 2014
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