Test your financial knowledge.
KOFE produces dynamic interactive courses that challenge and motivate clients and employees. Their titles, such as “Become a Credit Score Master” and content are entertaining, but provide relevant and detailed advice and information.
Clients and employees are tested multiple times during each course. This added bonus provides immediate feedback and each person can also gauge the level at which they’re learning as the course progresses.
Our growing number of interactive courses include:
- A Shrine to Your Credit: This course concentrates on credit reports. Learn what a credit report is, what it contains and how creditors and lenders use it to assess your risk as a borrower.
- Keeping Your Credit Shrine Clean: This provides the necessary steps you must take to dispute mistakes on your credit report.
- Building a Well-Fortified Budget: This explains how to categorize your expenses and balance your income against your financial obligations.
Another benefit provided by KOFE is that each course can be taken from any location. This flexibility allows clients and employees the opportunity to learn at any time during the day or night.
Being embarrassed about my financial situation, I was nervous but I’ve been treated in a very pleasant, respectful manner and was quickly put me at ease. They were very knowledgeable about helping me solve my financial problems and explained things clearly giving me many suggestions as to how to deal with this issue. I am looking forward to implementing some of their suggestions and solving my financial issues. Thank You!
I’m so happy that I came to talk to one of your representatives! They explained how I can get out of my debts. Now I have less worries and looking forward to a better future. I am certainly going to recommend this to my family, friends and co-workers. Thank you.
I turned to Consolidated Credit Counseling Services of Canada when I knew I couldn't dig myself out of my debt on my own. I was rejected by the bank for a consolidated debt loan and was feeling helpless. Because of Consolidated, I’ve managed to gain control of my debt and pay it off in a realistic time frame. I am so appreciative of them!
You helped me when no one else would! I’ve managed to move forward in dealing with my credit issues. Consolidated Credit was quick to help me deal with my creditors which lifted a huge load off my shoulders. All I can say is thank you consolidated credit!
The counsellors I’ve worked with have been very understanding and helpful. There’s no judgement but an intention to help us get back to zero debt.
Making the call to start the process to get back on my own feet was not just financially helpful but helped my mental health as well because I was always stressed! Now I have control again, sleep better and I’m moving forward. Everyone has been supportive, kind and helpful.
Consumer Debt and Financial Literacy Statistics for Canadian Households
Canadians now owe $1.83 for every $1 they have to spend in disposable income. The amount of credit in use increased by 7.9% to a total of $2.29 trillion among 27.9 million Canadian consumers.
The average Canadian consumer now owes about $21,188 in non-mortgage debt. Non-mortgage debt had decreased during the pandemic; however, this stat marks a return to pre-pandemic debt levels.
Inflation was a major news story in 2022 and peaked to a 40-year high, 8.1%. By the end of 2022, the price of consumer goods and services rose by 6.8% while worker wages only rose by 5.1%. This means the money in Canadian pockets lost purchasing power.
Only two-thirds (66%) of Canadian households are spending less than or equal to their monthly income. Compared to 78% in 2020, it is clear that more households are struggling to make ends meet.
63% of Canadians say that their financial behaviours from years past have negatively impacted their current financial confidence. In the past, they wished they had avoided overspending and credit card debt, invested at a younger age, and asked more financial questions.
50% of Canadian households who reported an increase in their debt said it was because of COVID-19.
Nearly half of Canadians are only $200 or less away from not being able to meet their monthly financial obligations.
58% of Canadians said their level of stress increased over the past 12 months while over one-third (38%) believe finances control their life.
Less than half of Canadians describe themselves as financially knowledgeable.
84% of employees are interested in their workplace offering financial education programs.
About 25% of Canadians now work either exclusively or partially from home compared to just 7.5% in 2016. Hybrid work arrangements have steadily increased since the beginning of 2022.
Study shows that nearly half of all financially stressed employees admit to spending at least 3 hours per week on their financial issues at work.