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Results: Survey says only 3% could break down common banking acronyms

Published on 02/16/2024
By: Tellwut
New data shows that Canadians are investing less money this season as a result of money being tight and apparently for having a lack of basic financial literacy skills. A survey, conducted by Angus Reid for Tangerine Bank, showed that only three per cent of Canadians could identify the meaning of six common acronyms used in banks.This includes, TFSA (Tax-Free Savings Account), RSP (Retirement Savings Plan), GIC (Guaranteed Investment Certificates), ETF (Exchange-Traded Fund), ESG (Environmental, Social and Governance) and ROI (Return on investment).