insight
Evidence type: Insight i
Qualitative research is more exploratory, and uses a range of methods like interviews, focus groups and observation to gain a deeper understanding about specific issues - such as people’s experiences, behaviours and attitudes.
Quantitative research uses statistical or numerical analysis of survey data to answer questions about how much, how many, how often or to what extent particular characteristics are seen in a population. It is often used to look at changes over time and can identify relationships between characteristics like people’s attitudes and behaviours.
Many Canadians are financially constrained: one third of Canadians are struggling to make ends meet, which rises to 42 per cent for those between the ages of 35 and 44 years old. Many of those Canadians rely on sources of credit, rather than savings, when their income is inadequate to cover their expenses. The National Strategy for Financial Literacy—‘Count me in, Canada’, was developed to mobilise and engage public, private, and non-profit sectors to strengthen the financial literacy of Canadians and empower them to do the following:
This review document presents Canada’s 2016-2018 National Research Plan for Financial Literacy, the objective of which is to focus efforts among researchers to generate key evidence that will contribute to the successful implementation of the National Strategy for Financial Literacy—Count me in, Canada.
It develops individual plans for financial literacy programmes for young people and for adults to help them achieve positive financial outcomes for the future. There are also a number of key areas discussed within the plan:
The plan starts with a summary of what the evidence already shows about interventions involving financial literacy:
This plan benefits from a set of key areas (mentioned above) and for every key area there is reference to a key statistic which evidences why it is an area of particular focus for the Financial Consumer Agency of Canada:
National research plan for financial literacy 2016-2018 - full report
National research plan for financial literacy 2016-2018 - full report
Financial Consumer Agency of Canada https://www.canada.ca/money