Global financial illiteracy rates are high, reports the Atlantic.
Over the last 30 years, average debt has gone from $2,000 to $27,000.
When it comes to talking about money and saving, the lines of communication have gone dead between parents and children.
The federal government is giving the Financial Consumer Agency of Canada new powers to protect consumers, the Financial Post reports.
There are 3.8 million Canadians with disabilities, according to Statistics Canada.
Sixty percent of Canadians say their current debt level doesn’t allow them to save as much as they'd like, with 31% unable to save at all, according to a poll commissioned by a group of credit unions including Credit Union Atlantic.
Jane Rooney, a policy maker in domestic and international financial literacy issues, has been appointed as Canada’s first-ever financial literacy leader.
Millennials display low levels of financial literacy, engage in problematic financial behaviors and express concerns about their debt, according to a FINRA Investor Education Foundation study.
When I was a child, my mother never discussed her income, or whether the family was struggling financially. As an adult, I learned this was because she didn’t want me discussing these issues with friends. But I now realize this was a missed opportunity to teach me about money, and for her to explain why it was a sensitive topic.
Canadians are more satisfied with their personal financial situations, and feel more secure about their employment situations.