Media Advisory – Financial Literacy
Month
TORONTO, Nov. 4, 2024
/CNW/ -
Three of the top financial concerns among Canadians:
1. 77%: Concerned about balancing today's expenses versus
building my savings
2. 64%: Worried about my cash flow
3. 48%: More anxious about my financial future
Source: RBC 2024 Financial Independence Poll
RBC advice: Anyone can freely access RBC's comprehensive
My Money Matters online
advice and resources hub. RBC clients can access
MyAdvisor – a digital advice platform which has now
connected 4.5 million Canadians to their personalized plan, with
the ability to adjust those plans in real time and connect with an
advisor via video chat, online banking or in person.
Three of the top financial habits challenges among
Canadians:
1. 55%: Not always confident in my financial decisions
2. 38%: Not keeping track of my expenses; and stressing about
my personal finances at least weekly
3. 34%: Can't seem to make good financial habits stick
Source: 2024 RBC Financial Habits Poll
RBC tip: NOMI Insights for RBC InvestEase helps clients
start and stick to their savings and investing strategies with
timely nudges when spare cash is available. NOMI Budgets sets and
keeps track of a variety of expenses, from groceries to household
to entertainment. And NOMI Forecast provides clients with a quick
seven-day view into their future cashflow, showing upcoming
preauthorized payments from any RBC deposit account. More
information about all the NOMI capabilities is available at
www.rbc.com/NOMI.
Three of the top concerns about home ownership among
Canadians:
1. 58%: Worried about covering the costs of home
ownership
2. 57%: Would need a side hustle or second job to afford a
home
3. 45%: Would need to overhaul my spending and saving habits
to buy a home
Source: 2024 RBC Home Ownership Poll
RBC advice: We know it can take time to save for a home;
taking advantage of the resources available can help. Opening up a
First Home Savings Account (FHSA) can be a good start to saving and
investing for your first home tax-free – more information is
available on RBC's FHSA hub. And there are online resources to help
you learn more about homeownership – including mortgage basics,
understanding how much home you may be able to afford, the
pre-approval process – and to connect with a mortgage specialist
for a conversation, through
rbcroyalbank.com/mortgages/home-ownership.html.
Three of the top fraud concerns among
Canadians:
1. 89%: The use of artificial intelligence (AI) could make
everyone more vulnerable to fraud
2. 88%: Scams will increase this year with the use of AI
3. 81%: AI will make fraud attempts by
phone harder to detect; and I am concerned about voice cloning and
impersonation scams
Source: RBC 2024 Fraud Prevention Month
Poll
RBC tips: Keep your guard up – set up
alerts on your accounts, enable multi-factor authentication
whenever possible and use the RBC Mobile App as your primary
banking tool. Avoid sharing personal information – be
cautious about what you share on social media and keep your
voicemail generic and short to deter robo-callers trying to capture
your name or voice. Never feel pressured to
respond – if you receive an urgent request from a
seemingly official source asking you to move or send money and
share your confidential information, stay calm and resist the
temptation to act. Does the offer seem too good to be true? If so,
it's likely a scam. More tips are posted on How to Protect
Yourself Online.
About RBC
Royal Bank of Canada is a
global financial institution with a purpose-driven, principles-led
approach to delivering leading performance. Our success comes from
the 100,000+ employees who leverage their imaginations and insights
to bring our vision, values and strategy to life so we can help our
clients thrive and communities prosper. As Canada's biggest bank and one of the largest
in the world, based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn
more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/peopleandplanet.
Media contact for more information:
Kathy Bevan, RBC Corporate Communications,
647-618-2287, kathy.bevan@rbc.com
SOURCE RBC Royal Bank