The new PC Finance Survey found that 3 in 4 Canadian adults are confident in their financial literacy skills | Job Binary


Canadians report high levels of confidence with financial skills such as sticking to a budget and setting monthly savings goals.

TORONTO, October 27, 2022 /CNW/ – A new PC Financial survey conducted ahead of Financial Literacy Month revealed that three in four Canadian adults (77%) are confident in their financial literacy skills, and an impressive two-thirds (66%) are confident in their financial future. . While confidence levels are generally high, less than half of Canadians (44%) believe they are equipped with the necessary advice and tools to save for their future.

“There is a clear gap in Canadians feeling supported with advice and tools to help them save for their future,” he explained. Carol Corti, SVP and Chief Payments Officer at PC Financial. “At PC Financial, we strive to make banking more rewarding and easier, so Canadians can clearly understand their financial situation and feel confident in planning for their financial future. Use it through our banking platform, our app goal. implementation program, or free resources and advice on our blog, we help Canadians on their financial literacy journey not just in November, but every day.”

Gut Check: How prepared are Canadians when it comes to budget planning?

  • Only a slight majority of Canadians (57%) are financially prepared to deal with a large unexpected expense.
  • 70% (70%) of Canadians surveyed are confident in their ability to stick to a budget.
  • Four in five Canadians (age 55 and over) are confident in their ability to stick to a budget (81%) and know how much money they need to save each month (82%), compared to 63% and 67%. of younger Canadians (18-54), respectively.

The level of confidence in financial literacy skills is growing

  • Seventy-two percent (72%) of young Canadians (18-54) are confident in their financial literacy skills, compared to 86 percent of older Canadians (55 and over).
  • Sixty-seven percent (67%) of young Canadians (18-54) know what they need to save each month.

“These findings tell us that we need to continue to offer financial products that help Canadians see their monthly cash flow so they feel informed and aware of where their money is going.” explains Jackie Porter, Certified Financial Advisor. “It’s important that Canadians choose a bank that supports them on their financial journey and makes banking easy. PC Financial is showing that they care about Canadians, reward them and offer a variety of products that help them save for a brighter future.”

PC Finance® offers smart online tools and products to help Canadians, including:

  • PC Mastercard, a credit card with no annual fee that earns you PC Optimum points on every purchase, wherever you shop.
  • PC Money™ account, A no-fee monthly spending account that earns you PC Optimum™ points everywhere you shop. Now open to youth over the age of 16.
  • PC Finance® ApplicationA mobile application that provides access to Finance from your computer® product details from anywhere, breaks down spending habits by category or time period and provides access to your PC Optimum™ weekly offers and points balance.
  • PC Finance® the blog, Featuring articles on financial topics such as tips on how to maximize your rewards with your PC Money™ account and reduce your financial inflation.

*About the survey

This survey was conducted by PC Financial Group From October 5 to 7, 2022 Among a nationally representative sample of n=1,526 Canadians, balanced and weighted by age, gender, region and education. For comparison purposes only, a probability sample of the entire sample size would yield a margin of error of +/- 2.4 percentage points at the 95% confidence level. The survey was offered in both English and French.

About Angus Reid Forum

It’s the Angus Reid Forum from canada The most popular and trusted online public opinion community of engaged citizens across the country answering surveys on current issues that matter to all Canadians.

About President’s Choice Finance

PC Finance® services deliver unprecedented value to customers by simplifying financial products to help Canadians Live Life Well®. through the PC ® MasterCard® and with the PC Money™ account, customers save on bank fees and earn more 1,000 billion dollars Redeem the value of PC Optimum™ points for beauty, food, gas, clothing and other products. It is committed to being one of these companies from canada the most diverse and inclusive employer and has a priority to reflect this in its people and culture.

Founded in 1998, PC Financial® is part of Loblaw Companies Limited. For more information, visit pcfinancial.ca.

SOURCE President’s Choice Financial

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