Financial Capability and Essential Skills: an Exploratory Analysis
The Social Research and Demonstration Corporation (SRDC) has partnered with the Financial Consumer Agency of Canada (FCAC) to take advantage of a unique research opportunity to explore the linkage between literacy and Essential Skills (LES) and financial capability.
The relationship between literacy and financial capability is currently not well understood. Indeed, the Task Force on Financial Literacy in 20101 identified a number of critical research gaps in the area of literacy and financial capability.
Among its recommendations, the report suggests further research on the link between financial literacy, basic literacy skills and numeracy; further assessment of the socio-demographic differences in financial norms and behaviours; and to explore financial literacy within the broader concept of well-being measurement. 2 This paper contributes to each of these objectives by exploring the relationship between financial capability, literacy, and a series of rich indicators of socio-demographics, psychosocial outcomes and well-being.
Project Details
Published: July 2014
Capability: Policy Research
Policy Area: Adult Learning - Financial Literacy
Population: Low-skilled Workers
Type: Report
Other Related Projects
Using Pay-for-Performance to Incentivize Manufacturing SMEs to Promote Active, Continuous Training (Pay-for-Performance IMPACT)
This project examines several key questions related to the effectiveness of a pay-for-performance (PFP) funding model in facilitating and incentivizing small- and medium-sized enterprise…
Read More
Enhancing Displaced Workers’ Literacy and Essential Skills
The Enhancing Displaced Workers Literacy and Essential Skills project is a collaborative project that is managed by Decoda Literacy Solutions and supported by the…
Read More
Evaluation Methodology for the Pathway to Apprenticeship Completion in the Trades (PACT)
The PACT (Pathway to Apprenticeship Completion) is an important initiative that tests and gathers data on scalable solutions for apprenticeship retention, progression, and completion…
Read More
