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Young Canadians Making the Grade in Financial Literacy (STUDY)

Young Canadians are savvier than their elders when it comes to budgeting, according to a MasterCard Canada survey. And they’re looking for additional tools – a third of young adults would appreciate having more information and resources available to them to better understand their finances.Financial Literacy Youth

The findings from the MasterCard/Leger study show that Canadian youth are more engaged in finacial literacy than previous generations. Read the full press release.

“Canadians care about financial responsibility and they want to have tools to keep them on track. This is important to us as well and that’s why we have a number of smart budgeting tools available,” said Sasha Krstic, Group Head, Global Products and Solutions, MasterCard Canada. “We love that young adults understand the need to budget. We’ll continue to educate all Canadians so they understand how to use our products and services responsibly.”

MasterCard released these details during Financial Literacy Month in Canada, and is pointing Canadians to a number of resources created by MasterCard. Budgeting tools like Purchase Power assist users in determining how much money is available for spending, while Payoff Accelerator helps users create a payment plan for paying of a credit card. Savings Target helps a user develop a realistic savings plan based on future goals. These tools – and more – are available to all on the Master Your Card website.