If you have extra money, this calculator helps you decide whether to invest or pay off...

The CBA partnered with Credit Counselling Canada, an association of accredited non-profit credit counselling agencies, to offer the Debt and Money Quiz.  The online tool helps Canadians assess their financial health and provides recommendations to help those who are struggling...

This research report compares the long-term financial outcomes of Canadians, based on a study comparing consumers who used a debt management program (DMP), bankruptcy (BK), or a consumer proposal (CP) to obtain relief from...

This webinar hosted by Credit Canada features guest expert Prosper Canada's Manager of Learning and Training, Glenna Harris. She shares some of their tried-and-true resources to help get people started on budgeting and debt management. She also provides a new tool - Financial Relief Navigator -...

This report presents a study of the debt settlement and financial recovery industry and examines Canadian consumer issues from these services.  Data is gathered from company websites and contracts as well as customer surveys and questionnaires completed by governmental and non-governmental...

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...

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...

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 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...

This is a one-hour webinar on debt management solutions in Canada for situations where someone's debt is significant enough that specialized solutions are needed. The speakers explain what steps are likely to be involved in the credit counselling process in setting up a debt management plan, or...

When dealing with debt, there can be some difficult situations where you may need help. If you are dealing with creditors, or collection agencies, there are steps you can take to ensure you are communicating clearly. It is also important to know your rights and options. This worksheet describes...

Unexpected expenses can make it harder to pay off debts. Knowing your spending needs can help prevent borrowing more money in the future. Use this worksheet to plan ahead for emergency or fluctuating expenses. If you can make a plan to pay for these this year, you’ll be less likely to borrow...

Once you’re ready to start tackling your debt and have a clear sense of how much you owe, your next step is to make an action plan. Use this worksheet to think about your debt repayment goals, the steps you can take now, and the help you will need along the way. 'Making a debt action plan' is...

Knowing what you owe is the first step to paying it off. This worksheet will help you see the full picture of your debt. Although it may be difficult to face, it is an important first step. Then you can think about 'What do I owe?' is the second worksheet in the 'Dealing with debt' toolkit. Find...

What would it feel like to have less debt in your life? What other goals or activities would be possible?  This worksheet will help you think about your values and goals. Setting goals is the first step in making a debt repayment plan. Think about what is motivating you towards your goal. 'Your...

Many of us struggle to talk about money, especially when it comes to talking about debt. It is when debt becomes too much for us to manage, or when we do not have a plan to pay it off, that it can become stressful and even overwhelming. This is when it is time to have those tough conversations and...

This study addresses these gaps in the literature through an evaluation of a nationwide credit counselling program called Sharpen Your Financial Focus, an initiative launched by the National Foundation for Credit Counseling (NFCC) in September of 2013.  The Sharpen initiative builds upon and...

This activity sheet is from Module 8 of the Financial Literacy Facilitator Resources. Steps for debt repayment. To view full Financial Literacy Facilitator Resources, click...

This study analyzes the effect of individual finances (specifically creditworthiness and severely delinquent debt) on mortality risk. A large (approximately 170,000 individuals) subsample of a quarterly panel data set of individual credit reports is utilized in an instrumental variables design....

Many service providers work with clients who are financially unstable. Financial instability can vary depending on the person, but common characteristics include having limited or unpredictable income, being behind on rent, not having enough money for food and other basics, and having...

To test out the impact of rules of thumb in helping consumers decrease their credit card debt, the CFPB commissioned a rigorous study of two financial rules of thumb on consumers with revolving credit card debt. We created two new guidelines aimed at aiding consumers to decrease their revolving...

Many initiatives are underway focused on teaching kids what people feel they should know about money. But, to our knowledge, no one has ever reached out broadly to ask youth what they want to learn about – what they are interested in – the challenges they face – and how they would like to...

This Debt Management Guide was created to assist volunteers at WoodGreen’s groundbreaking Debt Management Clinic, who meet one-on-one with community members to educate them on their options. It is now available for social services staff who want to know how to help clients deal with...

This short guide explains the process of getting debt management help from a credit counselling agency. Credit counselling agencies provide a range of services for people in financial difficulty. One of the most common services they offer is help with finding the best strategy to pay off your debt...

Focus on Native Communities provides information and tools to help you meaningfully connect Your Money, Your Goals to the community members you serve. T his guide—Your Money, Your Goals: Focus on Native Communities—contains additional information, tips, and tools based on the wisdom of tribal...