Authors: ABC Life Literacy Canada
Collection: Research Materials
This video, about 35 minutes long, was recorded during a webcast announcing the findings of a survey on the financial literacy of Canadians, undertaken by the Ipsos Reid market research firm on behalf of ABC Life Literacy Canada.
In March 2011, Ipsos Reid pollsters asked a thousand Canadians from coast to coast how confident they felt about their financial literacy and math skills when it comes to planning for a secure future.
Key findings showed that 72 per cent of respondents are not strongly confident with their math and money management skills; 79 per cent are not fully confident in their ability to teach another person about money, saving and budgeting; and 83 per cent of Canadians are familiar with the term RRSP (Registered Retirement Savings Plan), but less than 60 per cent are familiar with the term RESP (Registered Education Savings Plan).
As well, the survey showed that on average, Canadians put away only $211 per month for long-term savings; four in 10 Canadians save nothing at all; and 61 per cent save less than $100 per month.
During the news conference, ABC Life Literacy Canada and the TD Bank Group jointly announced the establishment of Financial Literacy Week, a national awareness campaign scheduled for October 30 to November 5, 2011. For more information, please click here: http://abclifeliteracy.ca/financial-literacy-week.