Financial Literacy 2.0
Understand the forces affecting your money.
Make better decisions.
Financial Literacy helps you understand and manage your money—from budgeting and borrowing to saving, investing and insurance.
Wealth Literacy—think of it as Financial Literacy 2.0—builds on that foundation by showing you how financial institutions, advisors and government influence your choices, the quality of advice you receive and how much of your money you keep. It also includes numeracy and a closer look at market basics, including market behaviour and history.
Numeracy helps you understand the story numbers tell. For example, a 2% annual fee on $100,000 is $2,000 a year. Seeing the dollar amount helps you judge what you receive in return and compare alternatives.
Market basics help you put events in perspective. A sharp market decline can feel alarming. Learning how markets have behaved through past downturns helps you assess risk, set realistic expectations and prepare for difficult times.
The Forces Shaping Your Money
We call them “Three Wolves” because each has interests that can work against you and your money—not out of malice, but by design.
Financial institutions, financial advisors and government all influence how much of your money you keep. Each has its own priorities, responsibilities and incentives, which may not always align with your needs. Seeing how they operate—and why they make the choices they do—helps you ask better questions, recognize your options and make better decisions.
Banks and other financial institutions provide essential products and services. Understanding how their costs and interests affect you helps you assess whether what you’re paying represents fair value.
What am I paying, what am I receiving, and what are my alternatives?
Financial professionals can provide valuable guidance. Whether your advisor is paid through commissions, by salary or directly by you can influence the incentives behind their recommendations. Knowing how they are paid and what responsibilities they have helps you evaluate their advice.
Is the advice I receive appropriate, valuable and working in my best interests?
Tax rules, public benefits and financial regulations shape what you earn, pay and keep. They change over time—sometimes with effects that only become clear when you file your tax return or receive your retirement income.
What government policies, tax rules and benefits apply to my situation—and how do they affect what I keep?
Coming Soon
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Email for more information →Financial Literacy and Wealth Literacy work together. For more practical guidance on budgeting, saving, borrowing and managing your money, explore the free resources from the Financial Consumer Agency of Canada.