Financial literacy news

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A recent survey conducted by the Chartered Professional Accountants of Canada (CPA Canada) indicates that many Canadians are treading water financially after more than two years of pandemic and economic turmoil. The Thriving or Surviving study uncovers the kitchen table issues that confront Canadians daily, revealing how the country is coping with concerns such as debt, savings, emergency funds and financial literacy.

‘Tis the season to be jolly and the gift of optimism is more prevalent among Canadians this year than last. According to the Annual Holiday Spending Study from Chartered Professional Accountants of Canada (CPA), Canadians are feeling much more hopeful this year, with 45 per cent of those surveyed feeling optimistic about the upcoming holiday season, compared to only 33 per cent last year. Pessimism has dropped drastically with only 14 per cent of Canadians feeling negative about the holidays, compared with 27 per cent in 2020.

If the pandemic has taught us anything, it’s that finances can be rocked by unexpected events and that “virtual” solutions can be found for many problems. With those lessons in mind, CPA Canada and Canada Life have launched an online series of free financial literacy workshops aimed at school children.

With summer fast approaching, parts of the country continue to remain under lockdown or heavy restrictions due to COVID-19. Against this backdrop, 79 per cent of Canadians admit they are concerned about how safe it is to travel and many are planning not to, according to a new survey conducted by Chartered Professional Accounts of Canada (CPA Canada).

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