Momentum’s Money Management Courses

The money management courses are offered online, on demand, for free. Learn at your own pace and on your own schedule on a variety of topics, including:

  • budgeting
  • credit
  • assets
  • banking
  • consumerism
  • education savings

 



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.

State of Fair Banking in Canada 2020: Borrower and Lender Perspectives

The DUCA Impact Lab defines fair banking as any financial product or service that lives up to the following set of principles:

  • Pricing is clear, transparent, and well understood
  • Pricing is representative of the cost of funds, cost of administration and risk, rather than what the market will bear
  • It is clear to all parties how any personal data is being used by the lender
  • Personal data is only used for purposes agreed to by both the borrower and lender
  • The terms and conditions, including penalties and the rights of each party are clearly explained and well understood by both lender and borrower
  • Products are only recommended that will bring the borrower closer to their expressed goals
  • The borrower is clear on what the institution will do (and not do), with deposits to earn a return
  • The assessment of risk is objective, transparent and not prejudicial
  • Financial institution recommendations are not biased towards in-house product recommendations
  • Products empower consumers when they need access to financial services, not just when they do not

Their Fair Banking 2020 report presents data on the following areas:

  • Debt load and its impact on Canadians
  • Financial confidence
  • Divide between borrowers and lenders
  • How financial products are priced
  • Poor credit and ability to access to financial product and services
  • Demographic snapshot: People of colour and Indigenous Canadians

 



COVID-19 Financial Resilience Hub

The Global Financial Literacy Excellence Center (GFLEC) focuses on financial literacy research, policy, and solutions.

This toolkit contains suggestions and resources for managing personal finances and protection against the financial emergencies caused by COVID-19.



Financial literacy and financial resilience: Evidence from around the world

This study presents findings from a measurement of financial literacy using questions assessing basic knowledge of four fundamental concepts in financial decision making: knowledge of interest rates, interest compounding, inflation, and risk diversification. Worldwide, just one in three adults are financially literate—that is, they know at least three out of the four financial concepts. Women, poor adults, and lower educated respondents are more likely to suffer from gaps in financial knowledge.



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.



G20/OECD INFE Core Competencies Framework on financial literacy for Adults (aged 18+)

This document describes the types of knowledge that adults aged 18 or over could benefit from, what they should be capable of doing and the behaviours that may help them to achieve financial well-being, as well as the attitudes and confidence that will support this process. It can be used to inform the development of a national strategy on financial education, improve programme design, identify gaps in provision, and create assessment, measurement and evaluation tools.



Four Actions That Can Hurt Credit Scores

During the Four Actions that Can Hurt Credit Scores webinar, you'll learn about:

  • Key events which can bring down credit scores
  • How collections are reported to credit bureaus and how long they affect scores
  • What can happen to credit scores when you apply for too much credit in a short amount of time

Their guest speaker is Julie Kuzmic, the Director of Consumer Advocacy at Equifax Canada, and a recognized authority on consumer credit. In her role leading consumer advocacy within the organization, Julie helps Canadians build credit confidence.



COVID-19 Financial Resource Centre

Credit Canada has pulled together financial information from trusted sources and released original content to help Canadians manage their finances during COVID-19.



Quarterly Consumer Credit Trends: Recent trends in debt settlement and credit counseling

This report used a longitudinal, nationally-representative sample of approximately five million de-identified credit records maintained by one of the three nationwide consumer reporting agencies. Trends in debt settlement and credit counseling during the Great Recession and in recent years are presented. This report shows that nearly one in thirteen consumers with a credit record had at least one account settled through a creditor or had account payments managed by a credit counseling agency from 2007 through 2019. Since 2016, the number of debt settlements has increased steadily, while credit counseling numbers are relatively unchanged.