Table 4
Financial literacy across categories of household debt
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No debt | Household debt | All persons1 | |||||
---|---|---|---|---|---|---|---|
Under $50,000 | $50,000 to $149,999 | $150,000 to $249,999 | $250,000 and over | All debtors | |||
% | |||||||
Average financial literacy | 68 | 70 | 73 | 74 | 76 | 72 | 71 |
% distribution of persons | |||||||
Level of financial knowledge | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Very knowledgeable | 6 | 6 | 6 | 5 | 9 | 6 | 6 |
Knowledgeable | 32 | 28 | 30 | 30 | 36 | 30 | 30 |
Fairly knowledgeable | 40 | 46 | 48 | 48 | 41 | 46 | 44 |
Not very knowledgeable | 18 | 18 | 15 | 15 | 12 | 16 | 17 |
Not stated | 5 | 2 | 2 | 2 | 3 | 2 | 3 |
1. Excludes those who did not answer the Canadian Financial Capability Survey (CFCS) debt module. Source: Statistics Canada, Canadian Financial Capability Survey (CFCS), 2009. |
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