The Financial Resilience Institute releases two new reports on financially vulnerable populations

Focused on improving financial resilience for all, the The Financial Resilience Institute has recently published two new reports.The reports shine a light on Canada's more financially vulnerable populations, including Indigenous Canadians, Racialized Canadians, people not working owing to a disability, single parents and others. The insights aim to help Financial Institutions, Policymakers and the overall ecosystem to enable impact measurement and help inform program and policy innovation, systems change and design thinking. The data is scored through the Seymour Financial Resilience Index™. The Index measures and tracks households’ financial resilience in Canada. Household financial resilience is defined as a household’s ability to get through financial hardship, stressors and shocks as a result of unplanned life events. 

Some key insights from the reports include:

• 77.8% of Canada’s population are not 'financially resilient'.
• Financial vulnerability has increased for Canadians overall. Concerningly, it has also increased for ‘Extremely Vulnerable’ Canadians and many of Canada’s more vulnerable populations.
• More financially vulnerable populations are much more likely to experience significant financial hardship or to be ‘Extremely Vulnerable’ 

Read the reports:

• The Financial Vulnerability and Challenges of Key Populations in Canada  
• Financial Inclusion and Access to Financial Help Challenges for more Financially Vulnerable or Underserved Populations 

About the Financial Resilience Institute

The Financial Resilience Institute is a nonprofit dedicated to improving the financial resilience and well-being of all Canadians and global citizens. They do this by helping purpose-driven organizations understand, measure, and then improve the financial resilience of their customers and communities.The Institute partners with financial institutions, business leaders and policymakers to develop and implement solutions that improve financial resilience, health and well-being for all. Learn more at www.finresilienceinstitute.org.