Video: 5 key consumer building blocks

Transcript

A video featuring persons and objects in animation format.

(A colourful arc shaped infographic with a tree sapling under its arc appears.)

Text on screen: FCAC’s National Financial Literacy Strategy

(The image changes to three green circles side by side. Each green circle holds a different image. One has a dollar sign, the other has a person next to checked boxes, and the third has a person with arms raised with three stars above them.)  

Text on screen: Key Consumer Building Blocks

(The image changes to a map of Canada with interconnected lines. Under it is a conveyor belt with boxes labeled with financial products. A person picks up one of the boxes.)

Text on screen: ETF, e-transfers, credit cards, pay day loans, TFSA, GIC

Narrator: Navigating Canada’s financial landscape has become challenging. The complexity of financial products and services has grown enormously. So has the number of choices. Technology and digital product offerings add to this complexity.

(Four puzzle pieces come together and become four blocks stacked two by two.)

Text on screen: Community groups, Government and regulators, Financial service industry, Other key players

Narrator: As a key player in the financial ecosystem, you can help Canadians build the individual skills, capacity, and behaviours that lead to better financial outcomes.

(A woman sits in an armchair scrolling on a tablet. Image changes to a man sitting at a desk looking at a computer screen. The image changes to show 5 green blocks with circle icons on each of them.)

Narrator: While managing money can be done differently from one person to another, research shows there are five building blocks that can help build financial resilience.

(Image changes to the colourful arc shaped infographic with a tree sapling under its arc. The image transforms into three blocks in a pyramid shape. The top block becomes three for a total of five blocks now in an arc layout.)

Text on screen: Key Consumer Building Blocks

Narrator: FCAC’s National Financial Literacy Strategy identifies these five consumer building blocks—and they’re relevant for everyone, regardless of circumstances.

Narrator: Canadians need:

(A green block with text flips over.)

Text on screen: Skills to navigate the financial marketplace

Narrator: Skills to navigate the financial marketplace.

(A green block with text flips over.)

Text on screen: Just-in-time knowledge and confidence

Narrator: Just-in-time knowledge and confidence.

(A green block with text flips over.)

Text on screen: Ability to manage expenses

Narrator: The ability to manage their expenses

(A green block with text flips over.)

Text on screen: Ability to manage debt

Narrator: manage their debt…

(A green block with text flips over.)

Text on screen: Ability to manage savings

Narrator: And manage their savings.

(A hand holding a magnifying glass, hovers over five green blocks.)

Narrator: By focusing on one or more of these building blocks you will help consumers achieve positive financial outcomes. Here are some actions you can take:

Text on screen: Take action:

(A woman wearing a hijab sits at a table, typing on a laptop, a lightbulb lights up above her.)

Text on screen: Skills to navigate the financial marketplace

Narrator: Successfully navigating the financial marketplace means knowing how to find information and access products and services.

(A pair of hands shake.)

Narrator: Direct consumers to trustworthy information. This enables them to compare costs, and consider risks, benefits, and limitations of financial products and services.

(A woman stands in front of a house for sale sign. The for-sale sign is marked sold. The woman is holding up keys.)

Text on screen: just-in-time knowledge and confidence

Narrator: Just-in-time knowledge and confidence means Canadians will have the information they need at the right time, and the confidence to use it.

(A person with a lightbulb lighting up next to them.)

Narrator: Help consumers understand the key facts before they commit to a financial product or service.

(A pair of hands holding a bill, the word paid is stamped on.)

Text on screen: ability to manage expenses

Narrator: The ability to manage their expenses means they’ll keep up with bills and credit commitments.

(A hand holding a smart phone. A ringing bell is on the smartphone’s screen.)

Narrator: Make it easy for consumers to receive reminders, automate bill payments, or align payment dates with their pay schedule.

(A person sitting on a couch holding a mug and looking at a laptop screen on their lap. A thought bubble with a car inside pops up above them. The car has a paid sticker on the windshield.)

Text on screen: Ability to manage debt

Narrator: When Canadians manage their debt, they’ll feel more in control of their overall situation.

(A woman holding a computer mouse is sitting at a table looking at a laptop screen. The screen has a credit card and a downward trending bar chart on it.)

Narrator: Give consumers trustworthy, unbiased financial information and advice about debt management to help them make informed decisions.

(A woman sitting at a desk looking at a computer screen with an upward trending bar chart.)

Text on screen: Ability to manage savings

Narrator: When they manage their savings, they’ll be able to weather financial shocks and unexpected expenses as well as reach their financial goals.

(A hand holding a tablet with pie charts and a bar chart. The words savings account is on the screen.)

Narrator: Nudge consumers to regularly review savings to monitor their progress.

(Three green circles side by side. Each green circle holds a different image. One has a dollar sign, the other has a person next to checked boxes, and the third has a person with arms raised with three stars above them.)  

Text on screen: Key Consumer Building Blocks

Narrator: Help Canadians build financial resilience.

(The colourful arc infographic reappears. The three green circles slide into it.)

Text on screen: FCAC’s National Financial Literacy Strategy  

Narrator: Learn more about FCAC’s National Financial Literacy Strategy and actions you can take.

(Image is replaced by a green line with a tree sapling emerging out of it to the right of screen.) 

Text on screen:  Let’s make change that counts canada.ca/financial-literacy

Narrator: Together, let’s make change that counts!

(Government of Canada word mark: The word Canada with a waving Canadian flag above the last ‘a’)