National Financial Literacy StrategyEcosystem Priority Details

The aim of this priority is to encourage stakeholders to communicate in ways everyone can understand.

Priority 1 - Target outcomes

Target outcome 1.1

More Canadians understand the key facts (including costs, risks, benefits, and limitations) about the financial products and services that are available to them.

Target outcome 1.2

More Canadians understand which financial products and services are appropriate for their own situation and goals.

Target outcome 1.3

Fewer Canadians experience negative financial outcomes related to not understanding key facts (including costs, risks, benefits, and limitations) or an inability to determine which financial products and services are good for their own situation (including their needs, risk tolerance, and budget constraints).

What FCAC will do

• Lead by example in testing to ensure all our resources for consumers are understood by them.
• Explore ways to showcase excellence in clear communication and plain language, including by recognizing those that successfully convey financial information to consumers.
• Develop targeted education outreach strategies, programs, and interventions that relay understandable and relevant information to specific audiences.