Spotlight on the provision of financial literacy content on the Internet

Author

Sophie Roussin, Marcel Boucher

Organization

Union des consommateurs

Published

2014

Summary

Consumers need to be well informed and educated financially, but they also need to be assured that the information that's presented to them by experts in these matters is honest and transparent, that they can trust it and that it will actually improve their ability to make informed choices.

Does a consumer trying to raise his level of financial literacy obtain adequate information, whatever the sources he consults? Are the credibility and impartiality, essential to sound financial education, presented by financial institutions as well as by the more independent actors on the market?

Financial literacy shortcomings of consumers are grouped into three main categories: budget, credit and savings. Union des consommateurs (UC)’s study focused on the credibility of the sources and content of financial education available online in those key aspects. UC analysed eleven websites where these issues are addressed by financial institutions, government bodies and community organizations. Their assessment was based on various credibility criteria for the websites identified in the literature, and they submitted a sample of those websites to discussion groups.

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English and French

OCA Funded Research
This research received funding support through the Office of Consumer Affairs' Contributions Program.


Contact information

Address
Union des consommateurs
7000 Parc Ave, Suite 201
Montreal, QC  H3N 1X1
Telephone
(514) 521-6820
Fax
(514) 521-0736

Source: Consumer Policy Research Database

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