Creditaid is a proud participating member of the Manitoba Financial Literacy Forum, currently comprised of more than 40 active members. The following news release and Executive Summary of the survey can also be found on their website.
Winnipeg, Manitoba (November 19, 2015) – One in five Manitobans say that there is little they can do to control their financial situation, according to a new survey from the Manitoba Financial Literacy Forum.
The survey, conducted by Prairie Research Associates, also revealed:
• 15 per cent of Manitobans believe that they would put off dealing with their money problems
• 11 per cent say they do not know who or where to turn to solve a financial problem
• 8 per cent feel that they do not know how to make good financial decisions
The results indicated that half of Manitobans do not consider themselves to be fully confident in their financial behavior, with many people desiring access to information and tools that can help them understand their finances, track their spending, create household budgets and improve their ability to work with a financial professional.
These findings are being used by the Manitoba Financial Literacy Forum to create a benchmark for the current state of financial literacy in the province. This is the first survey of its kind to focus exclusively on Manitoba, and its results will inform the Forum’s future programming and projects.
“Learning how Manitobans understand their own financial situation and behavior is an important first step for the Forum,” says Cynthia Duncan, co-chair of the Manitoba Financial Literacy Forum. “We’re finding that many people want to improve their financial skills, and we’re committed to connecting them to the resources that can set them up for lifelong success.”
Manitobans can learn more about money management by visiting ManitobaFinancialLiteracy.com. The website, operated by the Manitoba Financial Literacy Forum, maintains a large collection of free tools and information to help guide people toward making responsible financial decisions at every stage of their lives.
The Manitoba Financial Literacy Forum is one of the province’s largest not-for-profit coalitions of organizations and individuals working to promote financial education and skills to Manitobans, represented by stakeholders from the public, private, financial services, credit counselling, and voluntary sectors, as well as individuals, and families and labour organizations.
The survey results cited are compiled from a random sample of 600 Manitobans 18 years of age and over between April 9 to 29, 2015. The results were weighted to better reflect the population. A probability sample of this size would yield results accurate to ± 4.1%, 19 times out of 20.
Media Contact Information:
Cynthia Duncan
Co-chair, Manitoba Financial Literacy Forum
204-925-7420, ext 7405
info@manitobafinancialliteracy.com
Starting with their allowance, children can learn about how to manage their finances. The key is thinking about how much money you have and where you want to spend it. Children and adults alike are often driven by impulse and don’t think before acting. An environment where youth are responsible for identifying only their wants and not their essential needs is a dangerous precedent that can affect them throughout their lives. It’s simply too easy to spend freely and then find out you don’t have enough left, forcing you into debt.