Evidence of Financial Resourcefulness of Low income Canadians: Snapshots of Five Families’ Finances

Abstract

The Canadian Financial Diaries Research Project is a project which explores the financial health of low-and modest-middle income Canadians. Using the financial diaries methodology, this research looks at both the barriers and opportunities which can impact financial well-being. Both quantitative and qualitative data were collected over the period of one year, from a purposefully-chosen group of 29 participants. In this Snapshots of Five Participants we take a preliminary look at five of the participants in the Canadian Financial Diaries Project. Their files were chosen to represent the diversity of participants included in phase one. Readers will find a description of their backgrounds, socio-demographic
information, an overview of their financial practices, along with their assets and liabilities, and insights into their spending patterns and methods. Pseudonyms have been assigned in order to preserve the anonymity of participants.

Keywords: poverty, personal finances

JEL Classification: I32, G23