Today, the Financial Consumer Agency of Canada (FCAC) launched a national advertising campaign to help Canadians manage their money and navigate financial challenges in a complex and changing economy.
Under the theme “Making the most of your money,” the campaign showcases practical and trusted resources to help Canadians manage their money more effectively when making financial decisions, including tools such as:
- a Mortgage Calculator, to help understand the cost of a new mortgage or the cost of renewing an existing one;
- an Account Comparison Tool, to compare the cost and features of chequing and savings accounts;
- a Budget Planner, to help make a personalized budget in 3 simple steps; and
- a Credit Card Payment Calculator, to compare payment options for paying down credit card balances and the cost over time.
The campaign also promotes information for Canadians about their rights and responsibilities when dealing with federally regulated financial institutions. For example, when experiencing financial difficulties, having a candid conversation with your financial institutions as soon as possible can often provide options that will lead to more positive financial outcomes.
Throughout the campaign, which runs until March 31, FCAC will feature tips and tools to help Canadians spend smarter, save more and build their financial resilience. Visit Canada.ca/it-pays-to-know to find out more.
Quote
“At FCAC, our mission is to foster trust in Canada’s financial system by protecting financial consumers and empowering them to make informed decisions. We know that Canadians continue to face cost-of-living pressures that affect their financial well-being, and this campaign is designed to provide practical tools and trusted resources to help them navigate these challenges. By supporting Canadians and helping them make informed financial decisions, we are contributing to the Government of Canada’s priority to make life more affordable.”
Shereen Benzvy Miller, Commissioner, Financial Consumer Agency of Canada
Quick facts
- FCAC protects Canadians by supervising the compliance of federally regulated financial entities such as banks with their legislative obligations, codes of conduct and public commitments, and by strengthening Canadians’ financial literacy.
- Budgeting is an important strategy for managing money. Recent FCAC research finds that Canadians don’t need to be perfect at budgeting to see its benefits–the most important step is to get started, even on a small scale.
- FCAC’s Consumer Information Centre provides guidance on mortgage relief options for households struggling with payments, information on consumer rights when dealing with federally regulated financial institutions, and more.
Associated links
- Campaign page: Making the most of your money
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Source: Financial Consumer Agency of Canada
