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Five years ago, we launched our country’s first-ever National Strategy for Financial Literacy — Count me in, Canada. It is now time to update the strategy to make sure it reflects the evolving needs of Canadians and our changing world, which includes the impact of COVID-19 and ongoing economic turbulence.
As we live through these challenging times, managing finances has never been more important. The COVID-19 pandemic has caused unprecedented impacts on Canadians and the economy. Health and financial concerns, layoffs, physical distancing rules and lock-down measures have made it harder for some Canadians to pay bills on time, manage their debts and save for unexpected expenses.
While it’s not the entire solution, we know that understanding your finances can help. A large body of research demonstrates that personal financial habits contribute directly to an individual’s overall financial well-being. When people are able to invest in strengthening their financial literacy, they feel better about their finances and the benefits are immediate and far-reaching.
We want your feedback on how all Canadians can strengthen their financial literacy as we embark on the renewal of the National Strategy for Financial Literacy.
Your input will help ensure the renewed strategy is inclusive, relevant and accessible for all Canadians.
Provide your input until December 7, 2020. The consultation period is extended until January 29, 2021:
We have developed a consultation paper to both present ideas and gather feedback. It includes questions for your consideration, as well as background documents for more context. Read them before you participate:
We will review and summarize the feedback generated from these consultations and assess it in combination with findings from other relevant research activities. The renewed strategy is scheduled to be launched in the spring of 2021.
