Category: Results of research
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The Mixed Impact of Care Work on the Finances of Low-income Canadians: Insights from the Canadian Financial Diaries Research Project
By Jerry Buckland, Wendy Nur, and Jodi Dueck-Read Read Open Access article Abstract Family and community care work – mentoring, feeding, and nurturing – is a critical activity in any society. It is, and it enables, productive and reproductive acts that hold society together and enable economies to function. Its importance is magnified for people…
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The Finances of Mainly Unemployed and Retired Participants (Phased One)
November 2022 The Canadian Financial Diaries is a multi-year project that seeks to capture the finances and financial experiences of low- and modest-income earners in Canada. The participants in this group were selected because of their unemployed status. The group of largely unemployed diarists have extremely frugal finances. We saw that participants who were of…
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Leaning Against the Wind
The Ongoing Impacts of Trauma on Financial Well-Being and Decision Making October 2022 This paper examines the finances and financial experiences of twelve low-income participants from the Canadian Financial Diaries research project, all of whom have been significantly affected by trauma. The Financial Diaries project worked with twenty-eight low- and modest-income Canadians for up to…
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Financial Vulnerability in Canada: The Embedded Experiences of Households (BOOK)
2022 Available: https://link.springer.com/book/10.1007/978-3-030-92581-9 Drawing on results from the financial diaries, this book offers an in-depth, holistic examination of the financial vulnerability of low- and modest- income Canadian families. Its policy recommendations have implications that go beyond Canada to other developed countries.
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Connecting the Circle: Participants’ Feedback on Diaries Phase 1 Research Results
September 2021 Researchers conducted a high-level review of the preliminary results to identify key themes or learnings from Phase One. We met (virtually) with a subset of the Phase 1 participants to present these themes and get their feedback. The purpose of the meeting was to give participants an opportunity to comment on the findings…
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Financial Exclusion and Gender Inequity Among Low-Income Women in Canada
April 2021 Efforts in recent decades to advance gender equality have succeeded in increasing women’s economic participation. There are still many barriers, however, experienced by low-income women that prevent them from achieving their own definitions of financial well-being. Barriers such as low-skilled precarious labour and the pressures of caregiving make accruing savings difficult, placing low-income…
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Video to promote CFD Phase Two
August 2021 Staff and phase one participants of the Canadian Financial Diaries research project discuss the benefits of participating in the diaries process. Phase One data are being analyzed and reported on now and phase two begins in September 2021. We are looking for people with low- and modest middle-income to participate in monthly meetings…
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Does Canada need an ‘official’ and fair usury cap?
By Katlin Abrahamson. 30 August 2021. There have been several efforts to reform Section 347, the Criminal Rate of Interest, in the past twenty years. Does Canada need an ‘official’ usury cap? See one-page summary. Also, see: Smyth, Sara. “Criminalizing Usury: The Evolution and Application of S. 347 of the Criminal Code.” Appeal: Review of…
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How this tax season has impacted poverty
April 2021 Usually, many low-income Canadians anticipate an income tax refund at this time of year putting a positive spin to the tax season. It can also be an opportunity to learn about other government benefits one is eligible for. But this year many people with low-income nervous about tax season, and rightly so. But…
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The Multiple Costs of COVID on Less Wealthy Households
January 2021 Go to Consumers Council of Canada new channel about CFD Research Project study Go to Consumers Council of Canada post about CFD Research Project study
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Control, Sufficiency, and Social Support Lessons from Low-income Canadians about Financial Wellbeing
March 2021 This report, Control, Sufficiency, and Social Support: Lessons from Low-income Canadians about Financial Wellbeing, examines how diary participants achieve the financial wellbeing that they have. The evidence we found is that low-income people work very hard to manage their finances. They endeavor to control their finances so that, as one participant said, their…
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The Finances of Precariously Employed Participants
March 2021 The Canadian Financial Diaries is a multi-year project that seeks to capture the finances and financial experiences of low- and modest-income earners in Canada. The Finances of Precariously Employed Participants, a focused and descriptive report, draws on quantitative data of the financial flows of participants and qualitative information about participants’ financial experiences, views…
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Full-time employed diaries participants: frugal or upwardly mobile
Feb 2021 This summary is the third in a series describing the financial health of low- and modest-middle income participants involved in the Canadian Financial Diaries Research Project. The seven participants in this summary were selected because they were all employed full-time. This summary aims to highlight for the reader the participants’ financial values and practices, and to offer insights into participants’ financial wellbeing, including any barriers or opportunities…
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CFDiaires research contributes to report on Basic Income
December 2020 This report, by Dr. Jennifer Robson and Robin Shaban, finds that research participants receiving social assistance in B.C. are effective budgeters but that welfare programming constrains participant financial agency. The report is linked here.
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COVID19 and Poverty
The Differential Impact of the Pandemic and Recession on Family Finances: Report on COVID-19 Follow Survey with Canadian Financial Diaries Phase One Participants Jan 2021 The diaries team completed a report examining how phase 1 participants are faring through the early stages of the pandemic and economic recession. Watch this video interview of the author, Dr.…
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Video introducing: How are low- and modest middle-income Canadians financially faring through the pandemic?
Jan 2021 The diaries team is finalizing a report examining how phase 1 participants are faring through the pandemic. Watch this video interview of the author, Dr. Jodi Dueck-Read. This report will be coming out on January 21st. Preliminary results of the survey illustrate that low- and moderate-income earners are feeling stressed with increased expenses…
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Frugal Financial practices of low-income Canadians
19 September 2019. Canadians with low and modest incomes follow a number of strategies to make their finances work. We identified a number of financial practices that some of our nearly 30 diarists habitually follow. This includes daily repayment of credit card transactions, saving lump sum payments like Canada Child Benefit and Income Tax Refunds, and…
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Evidence of Financial Resourcefulness of Low-income Canadians: Snapshots of Five Families’ Finances
The Canadian Financial Diaries Research Project is a project which explores the financial health of low- and modest-middle income Canadians. Using the financial diaries methodology, this research looks at both the barriers and opportunities which can impact financial well-being. Both quantitative and qualitative data were collected over the period of one year, from a purposefully-chosen…
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Diaries project contributes to Toronto Star article on cashless economy dynamic
20 August 2020 https://www.caledonenterprise.com/news-story/10142236-who-is-left-behind-in-a-cashless-society-/
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Covid-19, Access to Basic Banking and Alternative Financial Services
By Kevin Akrong Sep 2020 There have been many changes to government benefits and banking practices announced since the Covid-19 pandemic shutdown began in March. We were curious to see what changes, if any, have been made to regulations regarding access to basic banking services and alternative financial products. This brief examines several issues. The…
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Report investigates how reforms to Canada’s retirement income system will effect people with low-income
May 2020CFD co-investigator Dr. Gail Henderson, based on a series of new studies, discusses the implications of retirement income reform on the incomes of low-income people. She notes that if the retirement age is raised, low-income Canadians may face greater vulnerability as they, on average, earn more in retirement.
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Participants’ thoughts about financial wellbeing and literacy: A pilot study
Josh Richert’s study reports on a pilot qualitative analysis of diary participants’ views about their finances. He finds that values, social connections, knowledge and tools shape people’s financial literacy and influence their financial outcomes. The report is available here:
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Financial practices of our diarists
Canadians with low and modest incomes follow a number of strategies to make their finances work. We identified a number of financial practices that some of our nearly 30 diarists habitually follow. You can read about them in this report.
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Report on Income Tax Return Module of the Canadian Financial Diaries
August 2019. The Canadian Financial Diaries seeks to understand the financial dynamics of low and moderate-income Canadians. Meeting with participants weekly for one year to monitor and record their financial diaries during Phase I of this project, this mixed methodology research reveals many layers of financial decision-making. In this report, we assess participants’ ideas on…
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Regulatory scan on diaries related research
June 2019. New report, Regulatory Scan Working Draft, from CFD team member Dr. Gail Henderson, Kevin Akrong, and Diane Wu, scans Canadian federal and provincial regulations that contribute to or constrain financial empowerment. There are many financial products and services aimed at moderate- and low-income Canadians – payday loans, prepaid credit cards, instalment loans, tax…
Canadian Financial Diaries Research Project 