This fact sheet from ESDC explains how to open an RESP and access the Canada Learning...
Proliteracy.ca analyzes historical living expenses from over 160 cities and tuition from over 100 universities and colleges in Canada to predict the cost of post secondary education in the future. Their tool suggests financing options based on your profile. Learn about RESP, grants, scholarships...
Not having a Social Insurance Number (SIN) and not filing taxes may represent challenges to access government programs and supports such as the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). Limited data availability has prevented a full assessment of the extent of these...
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...
The Fidelity Retirement Survey is focused on how Canadians near, and already in, retirement approach the next stage of their lives. This is the 14th year of the survey. The results indicate Canadians are retiring earlier than expected. They also show 46% of pre-retirees expect to have some...
This report from Prosperity Now shows the importance of matched savings programs called 'Promise Accounts' which help families successfully save for their futures. They are especially important for households of color as compared to white households. Decreasing economic inequality and closing the...
This webinar shares results on Statistics Canada research on barriers to uptake for the Canada Learning Bond (CLB). Specifically, this research examines whether tax filing or Social Insurance Number (SIN) access are greater barriers to accessing the CLB. Read the slides which accompany this...
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...
Introduced in 1998, the Canadian Education Savings Program (CESP) was designed as an incentive to encourage education savings for the post-secondary education of a child. The program is centred on Registered Education Savings Plans (RESPs), where savings accumulate tax-free until withdrawn, to pay...
A large majority of American households live in a state of financial vulnerability. Across a range of incomes, people struggle to build savings, pay down debt, and manage irregular cash flows. Even modest savings cushions could help households take care of unexpected expenses or disruptions in...
A lack of emergency savings renders low-income households vulnerable to material hardships resulting from unexpected expenses or loss of income. Having emergency savings helps these households respond to unexpected events, maintain consumption, and avoid high-cost credit products. Because many...
In this brief, we articulate why collaboration between community foundations and CSA programs is in their mutual interest. We describe the variety of roles that community foundations can play in promoting the growth and success of CSA programs, and then identify the primary challenges encountered...
This short video from the Canadian Pension Plan Investment Board explains the new additional Canada Pension Plan...
The Old Age Security program is the largest statutory program of the Government of Canada, and consists of the Old Age Security pension, the Guaranteed Income Supplement, and the Allowance. The Guaranteed Income Supplement is provided to low-income seniors aged 65 years and over who receive the Old...
Using data from the Survey of Financial Security (SFS), this article looks at changes in debt, assets and net worth among senior Canadian families over the period from 1999 to 2016. It also examines changes in the debt-to income ratio and the debt to-asset ratio of senior families with debt. This...
The introduction of Tax-Free Savings Accounts (TFSAs) in 2009 transformed how Canadians save. One of the main reasons for creating TFSAs was to provide a taxassisted savings instrument for low-income Canadians to enable them to improve their retirement income. Now, 10 years later, many low-income...
To address challenges around savings, the asset building and financial services fields have developed an array of solutions that attempt to support savings and wealth accumulation. However, the landscape of savings solutions is complex, difficult for households to navigate, and full of solutions...
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...
Use this calculator from GetSmarterAboutMoney.ca to find out how your investment will grow over time, with compound...
Use this tool to estimate how much your registered retirement savings plan (RRSP) will be worth at retirement and how much income it will provide each...
This calculator will help you estimate the value of the investments in your TFSA when you’re ready to withdraw them, and compare this amount to the value of your investments in a non-registered plan to see your overall estimated tax...
This is a one-hour webinar on matched savings programs and personal savings strategies that work for people living on low incomes. Our panelists share experiences from their programs in Ontario and Calgary. The presenters in this webinar are: Dean Estrella, Momentum, Calgary, AB John...
As student loan reform continues to dominate national discourse, a NEFE-funded study shows that financial education in states with state-mandated personal finance graduation requirements causes students to make better decisions about how to pay for college. It increases applications for aid,...
This is a one-hour webinar on increasing take up of Registered Education Savings Plans (RESPs) among people on low incomes. Our panelists share challenges and success stories in their work to help clients save for their children’s post-secondary education. Learn successful outreach strategies,...
This brief explains the asset-building approach to poverty reduction. While many families who live on low incomes struggle to meet basic needs, they miss out on opportunities to save and invest - opportunities that are critical in overcoming poverty. Without income, people are unable to get by...
