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...

For many Canadians, the road to a comfortable retirement is becoming longer and more difficult. A large portion of the working population is living pay cheque to pay cheque, unable to save, and worried about their local economy, according to the Canadian Payroll Association’s eighth annual...

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...

Banks in Canada are meeting the evolving preferences of their customers as powerful new technologies change the way people bank and how they pay for goods and services. Banking is transforming at a record pace, bringing innovation and new potential to empower Canadians’ lives in a digital world....

In 2014, the licensed Canadian payday loan industry provided nearly 4.5 million short-term loans to Canadian households, at a total value of $2.2 billion. Despite its unfavourable reputation, the licensed payday loans industry provides a necessary service for cash-strapped Canadians. Placing...

The Association of Canadian Pension Management (ACPM) launched its new Retirement Savings Course to empower Canadians wishing to learn the basics of retirement savings and to foster awareness of the importance of retirement income savings at any age. Course highlights: Self-paced learning on...

The COVID-19 pandemic and the related business closures and lockdowns have given rise to a series of unprecedented socioeconomic and health-related challenges, one of which is increasing food insecurity. Throughout the pandemic, Statistics Canada has continued to collect and release data on food...

In June 2015, Canada launched its first-ever National Strategy for Financial Literacy and the country is now examining how best to increase the financial knowledge and skills of Canadians. On behalf of the Canadian Bankers Association, Abacus conducted an extensive nationwide study of Canadians’...

The coronavirus pandemic has tested the limits of Canadians over the past 20 months. What began as a health crisis quickly morphed into an economic crisis, with the spread of COVID‑19 shocking large segments of the economy and leaving many without paycheques. While no generation has been...

The Canadian Bankers Association has created a new Cyber Security Awareness Quiz site to test your knowledge and ability to spot a “phishy” email, message or...

Banks offer extensive information on how newcomers to Canada can get started in their new country, including checklists, information, financial services and advice. The Canadian Bankers Association has compiled some basic information to get you started including an infographic with features of the...

Many of us have shifted some of our shopping online during the pandemic – it’s easy and very often you can have items delivered right to your door. Criminals are taking advantage of the increased popularity of online shopping by creating fake websites and apps that look authentic but are just a...

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...

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...

The Canadian Foundation for Economic Education (CFEE) works collaboratively with funding partners, departments of education, school boards, schools, educators, and teacher associations to develop and provide free, non-commercial programs and resources for teachers and students – developed and...

This article explores how skill proficiencies are related to household income for Canadians aged 16 to 65 using data from the first wave of the Longitudinal and International Study of Adults (LISA), conducted in 2012. The article also demonstrates how the relationship between skill level and low...

Today, in response to the needs of their communities and members, individual credit unions have chosen their own approaches to financial literacy. Initiatives take a variety of forms including those unique to the individual credit unions who run them independently, or those in partnership with...

In this webinar, "Financial literacy & coaching outcome evaluation made easy," you'll learn about the new online evaluation tool developed by Prosper Canada. This is a revolutionary new online evaluation question tool designed to help organizations measure the effectiveness of their financial...

For Canadians living with low incomes, tax filing is an important opportunity to boost incomes by accessing a wide range of government benefits. In this webinar, "Insights on hosting volunteer income tax clinics," experts in Canada share their knowledge and practices on what it takes to host...

Canadians living in households that experienced food insecurity (insecure or inadequate access to food because of financial constraints) during the early months of the COVID-19 pandemic were significantly more likely to perceive their mental health as fair or poor and to report moderate or severe...

Research conducted by agencies such as AFOA, Native Women’s Association of Canada, and various other Canadian entities, has identified the need for improved financial literacy education in Indigenous communities, particularly among youth and Elders. Such research reports are often equipped with...

High levels of household indebtedness in Canada has been a concern for policymakers at all levels of government over the past decade. As the economic costs of COVID-19 grow, household indebtedness becomes a faster growing and increasingly more serious concern.   While responsive government...

This paper contributes to the literature on the state of household finances in Canada by constructing new indicators using Canadian microdata based on Canadian and international literature. Using data from the Survey of Financial Security (1999, 2005 and 2012), and also the Canadian Financial...

Banks offer extensive information on how newcomers to Canada can get started in their new country, including checklists, information, financial services and advice. Here is some basic information to get you started. A list of bank resources at the end of this article may also help with the...

Banks take fraud very seriously and have highly sophisticated security systems and teams of experts to protect you from financial fraud. As a banking customer, there are also simple steps you can take to recognize cyber crime and protect your personal information and your money. Educating yourself,...