Confidence Variance by Age

The survey indicates that financial confidence improves with age. Approximately 40% of Canadians over the age of 55 express strong confidence in their financial management skills. In contrast, younger Canadians, particularly women under 35, show a desire for more supportive environments for financial discussions, with 45% indicating they seek safe spaces to ask questions.

Demand for Financial Education

Canadians demonstrated a clear demand for enhanced financial guidance. Key findings include:

• 29% wish to access trusted financial advisors.
• 27% prefer clear, jargon-free information.
• 23% advocate for financial education tailored to different life stages.

Gender Disparities in Financial Confidence

The Canadian Financial Monitor (CFM)* highlights that 63% of women under 35 lack financial confidence, while only 36% of women over 65 share this sentiment. Among older women, 60% believe that better financial support is essential for boosting their confidence.

Notably, 47% of women aged 55-64 regularly seek professional financial guidance. However, concerns persist: 18% are hesitant to utilize their home equity to safeguard their families’ financial futures, primarily due to worries about costs and fees.

Challenges in Financial Conversations

Discussing finances can be uncomfortable for many Canadians. The survey reveals that while 31% feel comfortable talking about money with friends and family, a significant number do not. Key statistics include:

• 66% of women aged 55 and older report feeling uncomfortable discussing financial matters.
• 34% of respondents believe that financial discussions are too personal.
• 20% indicate they were not raised to talk about money.

Gender differences are evident as well; 35% of men report feeling comfortable discussing finances compared to 27% of women.

About the Study

The data presented is based on an Ipsos survey conducted on behalf of HomeEquity Bank from October 9-14, 2025. A total of 1,500 Canadians aged 18 and older participated, with results reflecting demographic census parameters. The survey’s credibility interval stands at ±2.7% 19 times out of 20. The findings were further enriched by data from the Canadian Financial Monitor (CFM), which offers extensive insights into Canadians’ financial well-being.