Promotional toolkits for financial literacy and consumer protection
The Financial Consumer Agency of Canada developed the following digital content, including banners, infographics and videos, to help individuals and organizations promote financial literacy and consumer protection in Canada. Check back regularly for more promotional products.
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Financial literacy
The following products promote Financial Literacy Month and provide practical tips to manage money and debt.
Text version: Find your financial balance
Find your financial balance: Tips to manage your debt
Higher costs and interest rates mean that you may need to adjust your budget to find the right balance between daily spending and paying down debt.
- Review your budget to identify where you can cut expenses, so you have more money to pay down your debt
- Pay down your deb with the highest interest rate first to pay less interest
- Avoid taking on more debt in the future by saving for your financial goals
- Consider consolidating high interest debts into a loan with a lower interest rate
If you need to borrow money…
- Borrow responsibly to build a good credit history and know the difference between good and bad debt
- Choose the right product for your needs and circumstances
- Know your rights when borrowing money
Get more free tips and tools at: canada.ca/financial-literacy-month
Text version: Find your financial balance, the right balance
Find your financial balance
You may need to adjust your budget to find the right balance between paying down debt and daily spending.
Text version: Find your financial balance, reducing your expenses
Find your financial balance
Take control of your debt by reducing your expenses so you have more money to pay it down.
Text version: Manage your debt, to pay less interest
Manage your debt
When interest rates are high, pay down the debt with the highest interest rate first to pay less interest.
Text version: Manage your debt, pay off multiple high-interest debts
Manage your debt
Too much debt can be stressful. Consider applying for a loan to pay off multiple high-interest debts.
Text version: Plan for the future, save for your financial goals
Plan for the future
Avoid taking on more debt by saving for your financial goals.
Text version: Plan for the future, set up an emergency fund
Plan for the future
Set up an emergency fund to pay for unexpected expenses without going into debt.
Text version: Borrow money wisely, have a plan to pay it back
Borrow money wisely
If you need to borrow money, have a plan to pay it back and build a good credit history.
Text version: Borrow money wisely, pay less interest
Borrow money wisely
When interest rates are high, avoid getting the maximum mortgage or line of credit to pay less interest.
Text version: Borrow money wisely, good debt creates value
Borrow money wisely
Good debt is an investment in something that creates value or produces more wealth in the long run.
Text version: Borrow money wisely, bad debt
Borrow money wisely
Bad debt is borrowing to buy something that goes down in value.
Text version: Know your rights
Know your rights
When you apply for a mortgage or a loan, you have the right to information that is clear, simple, and not misleading.
Text version: Enhanced protections
Enhanced protections
When you are about to reach your credit limit, your bank will send you an alert by email or text to help you manage your debt.
Financial consumer protection
The following products promote the new and enhanced protections for bank customers that are part of Canada’s new Financial Consumer Protection Framework, including new electronic alerts from banks. The new and enhanced protections will take effect on June 30, 2022.
Text version: New protections for bank customers
New protections for bank customers
What you should know
Starting June 30th, you will benefit from new and enhanced protections when dealing with your bank.
Enhanced disclosures
Your bank will have to provide you with more information about your day-to-day banking so you can make informed and timely decisions.
For example, you will receive:
- Electronic alerts to help you manage your accounts and avoid certain fees
- Timely reminders to renew or cancel your products or services
- Separate agreements for optional products and services to help you understand them better
Enhanced complaint- handling procedures
Your bank will have to strengthen its complaint-handling procedures so your issues are resolved faster.
For example, your bank will be legally required to deal with complaints within 56 days
Other measures to better protect you
Your bank will have to take further actions to better protect you and meet higher standards for sales practices.
For example, your bank will have to:
- Offer and sell products or services that are appropriate for your needs
- Take additional steps to avoid providing misleading information or applying undue pressure when selling you products or services
- Take additional steps to make sure they get your express consent for each product or service you buy
These protections are part of Canada’s new Financial Consumer Protection Framework.
Learn more at canada.ca/fcac
Text version: New electronic alerts from your bank
New electronic alerts from your bank
As of June 30, you will receive new alerts via email, text or app notification
The alerts:
- will let you know when your bank account balance or available credit on your credit card or line of credit falls below a certain amount
- will tell you what charges or fees may apply, and how to avoid them
- will be sent automatically, but you can change or cancel them
The alerts will help you manage your accounts and avoid certain fees
Text version: New electronic alerts from your bank
New electronic alerts from your bank
As of June 30, you will receive new alerts via email, text or app notification
The alerts:
- will let you know when your bank account balance or available credit on your credit card or line of credit falls below a certain amount
- will tell you what charges or fees may apply, and how to avoid them
- will be sent automatically, but you can change or cancel them
The alerts will help you manage your accounts and avoid certain fees
Text version: Enhanced complaint-handling procedures for bank customers
Enhanced complaint-handling procedures for bank customers
Starting June 30th, your bank will have to strengthen how it handles complaints.
Your bank will have to:
- Deal with complaints within 56 days
- Help you navigate their complaint-handling procedures to make sure you understand the steps involved
- Avoid using misleading terms, such as ombudsperson, that suggest bank employees who handle complaints are independent
These measures will help get your issues resolved in a more timely and effective way.
These protections are part of Canada’s new Financial Consumer Protection Framework.
Learn more at canada.ca/money
Videos
- New protections for bank customers - YouTube
- New electronic alerts from your bank - YouTube
- Enhanced complaint-handling procedures for bank customers - YouTube
Budget Planner
Display the Budget Planner on your website
FCAC is looking for organizations interested in incorporating a widget of the tool to their website. For more information, email us at FCACTools.OutilsACFC@fcac-acfc.gc.ca.
Text version: Manage your money with a budget
Manage your money with a budget
The Budget Planner is a free interactive tool that provides personalized tips and suggestions to improve your financial situation.
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