The Gaps in Financial Literacy in Canada

A study released by Statistics Canada, illustrates the gap in financial literacy that lies within Canada, among a number of demographics. The major finding indicates that men have higher levels of financial knowledge than women, but there’s more to this. Here’s a summay of key findings: Men have higher financial literacy scores than women. In 2014, 22% of men correctly answered 5 of the 14 questions that were specifically related to the key issues of interest, inflation and risk diversification. This compared with 15% among women. [Statistics Canada] 31% of women consider themselves financially knowledgeable, compared to 43% of men. No difference in financial knowledge…