The free tool aims to help Canadians take control of their finances
The Financial Consumer Agency of Canada has launched a free budgeting tool to assist Canadian households with their financial plan.
The agency says that Canadians are increasingly turning to digital and online tools for financial tools and the new budgeting solution tallies with the focus area for the National Strategy for Financial Literacy – Count me in, Canada and of the National Research Plan for Financial Literacy.
Using behavioural insights and offering instant feedback, budget templates, guidelines, and rewards, the online tool shows users charts reflecting their spending, and how their budget compares to others with similar life situations.
“Our research shows that a household budget can be the foundation of financial well-being,” said Judith Robertson, Commissioner, Financial Consumer Agency of Canada. Making a budget is the first step every Canadian should take toward managing their financial future. FCAC’s new Budget Planner is a free and highly effective tool Canadians can use to take charge of their finances!”
The budget planner enables users to:
Budget Planner allow users to:
- Budget anywhere, anytime and online
- Save and update their budget via a unique link
- Earn badges and share their success stories via social media
- Download an interactive spreadsheet that provides similar functionality to the online tool
- Print a budget report
