Program directory · Financial Consumer Agency of Canada
Financial Literacy
- Department
- Financial Consumer Agency of Canada
- Program code
- BUU01 (FCAC)
- Core responsibility
- Financial Literacy
- In Departmental Plans
- 2018-19 – 2021-22 · Appeared and later dropped
What it does
The Financial Literacy Program seeks to strengthen the financial knowledge, skills and confidence of Canadians to enhance their ability to make financial decisions. The Agency will lead stakeholders, such as National Steering Committee members and financial literacy networks across Canada in developing and delivering concrete actions designed to integrate financial literacy into initiatives that guide Canadians’ financial decisions. Specific efforts will focus on encouraging Canadians to budget, build savings, pay down debt, and choose financial products and services wisely.
Source: the department's Program Inventory, via GC InfoBase.
History and lineage
First appears in GC InfoBase's actual spending by program in 2018-19. The data does not record when a program was created; it may be older than its first appearance here, which is limited by the sources (program spending starts in 2010-11, Departmental Plans in 2018-19).
| Program | Relation | Years with data | Actual spending over those years |
|---|---|---|---|
| Financial Literacy | This program | 2018-19 – 2023-24 | $22.8M |
No earlier or later program in the same department has a similar name.
Significant changes in scope and budget
Detected from the data: renames between plans, programs it appears to replace, merge with or split into (matched by name), year-over-year changes in spending of at least 25% and $5M, or in employees of at least 20% and 25 FTEs, linked budget measures, and results indicators added or dropped.
No significant changes detected.
Success criteria
The program's indicators from its department's Departmental Results Framework: the target set in each year's plan, and the result reported the following year. Source: GC InfoBase.
Historical: targets against results
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2019-20 | The updated methodology for this indicator is being benchmarked in 2018–19; therefore, targets have not been set yet. | 2020 | 9,273,426 Baseline under development. The figure represents the number of Canadians reached via FCAC’s web content and interactive tools, including visits to all Canada.ca web pages and interactive tools sessions. | No result reported |
| 2020-21 | The updated methodology for this indicator is being benchmarked in 2018–19; therefore, targets have not been set yet. | 2021 | 10,243,558 Exceeds the target of 9,737,097. The figure represents the number of Canadians reached via FCAC’s web content and interactive tools, including visits to all Canada.ca web pages and interactive tools sessions. | Met |
| 2021-22 | 5% increase | 2022 | 9,830,975 | Not met |
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2019-20 | 5% increase | 2020 | 49% Exceeds the target of 48%. | Met |
| 2020-21 | 5% increase | 2021 | Not available Data to report on this indicator is unavailable for 2020-21. The results are obtained from the Canadian Financial Capability Survey (CFCS) which is currently conducted every 5 years. The CFCS was last completed was in 2019. Although CFCS data to report on this indicator is unavailable for 2020-21, related data is available through FCAC's Covid-19 Financial Wellbeing Survey. In this survey, 54% of… | No result reported |
| 2021-22 | 5% increase | 2022 | S.O. No departmental results available as the information source is the Canadian Financial Capability Survey which is conducted every 5 years. The last survey was conducted in 2019. | No result reported |
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2019-20 | 5% increase | 2020 | 40% | Met |
| 2020-21 | 5% increase | 2021 | Not available Data to report on this indicator is unavailable for 2020-21. The results are obtained from the Canadian Financial Capability Survey (CFCS) which is currently conducted every 5 years. The CFCS was last completed was in 2019. Although CFCS data to report on this indicator is unavailable for 2020-21, related data is available through FCAC's Covid-19 Financial Wellbeing Survey. In this survey, Canadi… | No result reported |
| 2021-22 | 5% increase | 2022 | S.O. No departmental results available as the information source is the Canadian Financial Capability Survey which is conducted every 5 years. The last survey was conducted in 2019. | No result reported |
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2019-20 | 5% increase | 2020 | 62% Did not meet the target of 64%. Results from the 2019 Canadian Financial Capability Survey (CFCS) show that 16.1% of Canadians engaged in financial learning via courses in-person classes, at school or at work, up from 10.6% in 2014. Canadians have also increased their understanding about specific aspects of financial knowledge such as inflation, interest rates and risk which are considered the bi… | Not met |
| 2020-21 | 5% increase | 2021 | Not available Data to report on this indicator is unavailable for 2020-21. The results are obtained from the Canadian Financial Capability Survey (CFCS) which is currently conducted every 5 years. The CFCS was last completed was in 2019. Although CFCS data to report on this indicator is unavailable for 2020-21, related data is available through FCAC's Covid-19 Financial Wellbeing Survey. In this survey, Canadi… | No result reported |
| 2021-22 | 5% increase | 2022 | S.O. No departmental results available as the information source is the Canadian Financial Capability Survey which is conducted every 5 years. The last survey was conducted in 2019. | No result reported |
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2018-19 | 5% increase | 2019 | 14% These results exceed the target of 10%. | Met |
| 2019-20 | 5% increase | 2020 | 18% Exceeds the target of 11%. | Met |
| 2020-21 | 5% increase | 2021 | Not available Data to report on this indicator is unavailable for 2020-21. The service provider that collected the relevant information went out of business in 2019. | No result reported |
| 2021-22 | 5% increase | 2022 | S.O. The service provider who collected this data went out of business in 2019 and results have not been available as of 2020–2021. | No result reported |
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2018-19 | 5% increase | 2019 | 20% These results exceed the target of 15%. | Met |
| 2019-20 | 5% increase | 2020 | 23% Exceeds the target of 16%. | Met |
| 2020-21 | 5% increase | 2021 | Not available Data to report on this indicator is unavailable for 2020-21. The service provider that collected the relevant information went out of business in 2019. | No result reported |
| 2021-22 | 5% increase | 2022 | S.O. The service provider who collected this data went out of business in 2019 and results have not been available as of 2020–2021. | No result reported |
Current: the 2026-27 plan's targets
No indicators in the 2026-27 plan.
Future goals: targets due after 2026-27
No targets with a later due date.
Spending and employees: planned against actual
Spending
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | $7.7M | $6.2M |
| 2019-20 | $6.5M | $5.4M |
| 2020-21 | $6.8M | $4.7M |
| 2021-22 | $7.5M | $6.5M |
| 2022-23 | $8M* | — |
| 2023-24 | $8.2M* | — |
Employees (FTEs)
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | 44 | 33 |
| 2019-20 | 36 | 30 |
| 2020-21 | 38 | 29 |
| 2021-22 | 37 | 35 |
| 2022-23 | 40* | — |
| 2023-24 | 41* | — |
Planned spending, plan by plan
Each row is one year's Departmental Plan and its forecast for the next three fiscal years; read a column down to see how the forecast for one year changed. The last row is what was actually spent. Click an amount for its source. Biggest changes in federal spending plans
| Plan | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|---|
| 2018-19 plan | $7,682,689 | $8,043,002 | $7,789,597 | |||
| 2019-20 plan | $6,500,000 | $6,460,000 | $6,490,000 | |||
| 2020-21 plan | $6,776,193 | $6,928,267 | $6,845,634 | |||
| 2021-22 plan | $7,473,325 | $7,970,074 | $8,220,598 | |||
| Actual | $6,160,195 | $5,364,753 | $4,692,116 | $6,546,130 |
Actual spending is from Departmental Results Reports and the Public Accounts, as published in GC InfoBase. FTEs are full-time equivalents.
