General Survey on Consumers' Financial Awareness, Attitudes and Behaviour

Financial Information and Assistance

• Of all respondents:
  
  
  • 41 percent did not consult any of the seven sources of financial information listed in the survey, over the last year, but those who did (59 percent) generally consulted several sources;
    
    
  • 34 percent read financial newspapers or magazines - this was the main financial information source;
    
    
  • 24 percent visited financial websites, a lot more frequently respondents with higher levels of education, when compared with those with lower levels of education; and,
    
    
  • 19 percent consulted government publications.
    
    

Overall, those least likely to have looked at or consulted financial material were Atlantic and northern residents, younger respondents, those with lower levels of education, and females.

• Of all respondents:
  
  
  • 40 percent reported to have consulted their family or friends in the last year regarding their finances;
    
    
  • 41 percent consulted their financial institution manager or counsellor;
    
    
  • Other professionals ¹¹  respondents consulted in the last year were:
    
    
    • 29 percent accountants;
      
      
    • 32 percent planners / advisers; and,
      
      
    • 23 percent financial counsellors other than those working for a financial institution.
      
      
  • When all financial professionals were combined, it turned out that last year, respondents relied more frequently on professional assistance (82 percent) than on friends or family (40 percent).