The Case for Financial Literacy: Assessing the effects of financial literacy interventions for low income and vulnerable groups in Canada (2012)

This report was commissioned by the Canadian Centre for Financial Literacy (CCFL), a division of Social and Enterprise Development innovations (SEDI), to assess what is known about the impact of financial literacy programs for vulnerable Canadians and to determine future directions for research, policy, and practice.

All Canadians, regardless of their income level, need to be financially literate, the author notes. Mainstream financial information, tools, and advice are useful for middle or higher income Canadians, but are often less so for low-income Canadians and can even be detrimental.

Community financial literacy programs, therefore, play a crucial role in adapting basic financial advice so that it responds more directly to the real lives and needs of vulnerable Canadians.

At the same time, the author cautions that financial literacy is not a cure-all and should not be seen as an alternative to effective regulation, adequate financial resources, and other public policies to promote social and economic inclusion and well-being.

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2013-01-16
APA citation
Jennifer Robson. The Case for Financial Literacy: Assessing the effects of financial literacy interventions for low income and vulnerable groups in Canada 2012. Web. 26 Feb. 2021 <http://en.copian.ca/library/research/ccfl/case_for_financial_literacy/case_for_financial_literacy.pdf>
Jennifer Robson (2012). The Case for Financial Literacy: Assessing the effects of financial literacy interventions for low income and vulnerable groups in Canada. Retrieved February 26, 2021, from http://en.copian.ca/library/research/ccfl/case_for_financial_literacy/case_for_financial_literacy.pdf
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