The Financial Consumer Agency of Canada (FCAC) has published a new report entitled What we heard:  Shaping a new national strategy for financial literacy.  This is a summary of input received during public consultations held in preparation for renewing the National Financial Literacy Strategy. Attached are the PDF version of the report and the complementary infographic are provided.

FCAC launched the first National Strategy for Financial Literacy in 2015. The strategy was successful in raising awareness of the importance of financial literacy, and it spurred wide-ranging efforts aimed at strengthening Canadians’ financial knowledge, skills and confidence.  FCAC announced its intentions to renew the National Strategy in its 2020-2021 business plan.

To inform this renewal, we held public consultations from November 2020 to the end of January 2021 inviting financial literacy stakeholders across Canada, researchers in Canada and abroad, and individual Canadians to share their feedback and input. We also drew insights from research conducted by FCAC and by external researchers,  and our own experiences developing and implementing the first strategy.

We would like to thank everyone who took the time to talk with us, as well as the researchers whose work has informed our perspective. Your insights helped inform how this next phase of our efforts can best serve Canadians’ evolving needs.  The renewed strategy will be launched in summer 2021. We look forward to sharing it with you, and working with you in its implementation.

Please share this information with members of your organization and your network. We look forward to working collaboratively with you to help consumers in Canada build greater financial resilience.