Frequently asked questions — Canadian Financial Literacy Database
What is financial literacy?
Financial literacy is having the knowledge, skills and confidence to make responsible financial decisions.
A financially literate person is someone who understands how the financial system works, what products and services are available, what their rights and responsibilities are, how to manage their money and how to make choices that best suit their needs and income. A financially literate society helps build a strong economy, which in turn makes all our lives better.
What is the Canadian Financial Literacy Database?
Developed in response to a recommendation from Canada’s Task Force on Financial Literacy, the Canadian Financial Literacy Database provides Canadians with a comprehensive list of resources, events, interactive tools and information offered by financial education providers, including the public, private and non-for-profit sectors across Canada.
This is your one-stop source to find information on budgeting and money management, insurance, saving and investing, taxes and fraud prevention, and much more. Resources and events can be searched by topic, type, your location, or knowledge level.
How can I submit a resource or event into the database?
You can use the resource database input tool to submit both resources and events, allowing you to manage your resource and event information from a single application.
Before you can submit information about a resource to make it available in the database, you must register for an FCAC account. If you already have an FCAC account, you may use it to log into the resource database input tool. On the resource database input tool web page, you will find two “how-to” documents to assist you. The first document guides you through creating and managing your FCAC account; the second shows you how to enter resources for approval in the database.
To ensure the credibility and usefulness of the resources and tools listed, FCAC reviews all submissions against a set of eligibility criteria before including them in the database.
What is the financial literacy self-assessment quiz?
The financial literacy self-assessment quiz helps you identify the areas where you could broaden your financial knowledge and skills.
Take this quiz to find out how well you are doing at:
- Keeping track—organizing and watching your income and expenses to understand where your money goes.
- Making ends meet—spending less than you bring in so you do not live beyond your means.
- Planning ahead—setting goals and working towards them.
- Staying informed—seeking out information and asking questions of trusted sources regarding financial products and services.
- Choosing products—selecting products and services to meet your current and future financial needs.
Your results will include a comparison to other Canadians based on their responses to the Canadian Financial Capabilities Survey. The results will also direct you to resources or events listed in the database that can help you improve or maintain your money management skills and knowledge.
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