Canadian families are talking about money more often, but girls report lower financial confidence: TD survey

81% of Canadian parents discuss financial topics with their children at least monthly, yet boys are more likely than girls to feel confident managing money

TORONTO, Oct. 27, 2026 /CNW/ -- As Financial Literacy Month approaches, new research from TD reveals a positive shift in how Canadian families approach money conversations. Parents are talking about finances more often than previous generations did, children are highly interested in learning about money, and overall financial confidence among youth is strong. However, the survey also points to an emerging challenge: a financial confidence gap between boys and girls.

Key findings from this TD survey:

• 81% of parents surveyed discuss money with their children at least monthly, compared to just 47% of adults who recall having similar conversations growing up.
• Two in three parents (66%) have difficulty talking about money with their kids, particularly in finding ways to make these conversations feel relevant and appropriate.
• 80% of children aged six to 17 are interested in money-related topics, including 78% of children aged six to nine.
• Across all ages surveyed, 22% of boys say they're very confident with money, compared with 13% of girls.
  • By their teen years, 85% of boys say they feel confident with money compared to 75% of girls.
• 63% of girls say learning from others would help them feel more confident about money, compared with 54% of boys.

Canadian children are interested in learning about money from an early age
Financial literacy isn't only a topic for teenagers. The survey found that interest begins in the elementary school years, with children gaining experience through saving, spending and making purchasing decisions. Still, many parents say these conversations can be tricky with 66% of parents reporting challenges when talking to their children about money.

"It's encouraging to see financial conversations becoming a regular part of family life across Canada," said Joe Moghaizel, Senior Vice President, Canadian Personal Banking Product Management, Everyday Banking, Savings and Investing, TD. "When parents talk openly about money, they help build the foundation for healthy financial habits that can last a lifetime. Our findings show that young Canadians are eager to learn and families have an important opportunity to ensure that confidence grows alongside that curiosity for every child."

Girls report lower financial confidence despite strong interest in learning

While the survey revealed that most children believe boys and girls can be equally good with money, the survey reveals notable gender differences in confidence, self-perception and financial learning experiences were also found:

• 61% of girls and 57% of boys strongly agree that boys and girls can be equally good with money.
• 12% of girls say they know a lot about money, compared with 19% of boys.
• 21% of teen girls ages 14-17 say thinking about money makes them worry, versus just 14% of teen boys.
• Boys are more than twice as likely as girls to strongly agree that they're good with money, at 23% compared with 10%.

When it comes to feeling more confident about money, girls are more likely than boys to say learning from others would help (63% vs. 54%). Girls also identified their preferred ways to learn about money:

• Talking about money with a parent, guardian or trusted adult (56%)
• Practicing with real-life situations, like saving for something they want (52%)
• Learning about money at school (48%)
• Learning from someone who explains money in a simple way (45%)

"One of the most important findings from this research is that confidence with money isn't developing equally among young Canadians," said Moghaizel. "Building financial confidence is just as important as building confidence in other areas of life. Parents, educators and financial institutions all have a role to play in creating supportive and practical learning opportunities to help every young person build the skills and confidence to make informed financial decisions."

Q&A: Helping children build financial confidence

1. Why is financial literacy important for children?
   Financial literacy helps children develop the knowledge, behaviours and confidence needed to manage money throughout their lives. Early experiences can shape long-term financial habits.
   
2. When should parents start talking to children about money?
   The findings suggest financial interest begins as early as age six, making elementary school years an ideal time to begin age-appropriate conversations.
   
3. How can parents make money conversations more relevant?
   Parents can connect financial lessons to everyday situations, such as comparing prices, planning a small purchase or helping a child save for something they want. Keeping the discussion practical and allowing children to ask questions can make abstract concepts easier to understand.
   
4. How can parents and educators help children, particularly girls, build financial confidence?
   Practical experiences, open conversations, positive reinforcement and opportunities for independent decision-making can help build confidence over time.
   
5. What is the biggest takeaway from the TD survey?
   Canadian families are making meaningful progress in normalizing money conversations, but there is an opportunity to ensure all young Canadians, particularly girls, receive the encouragement, practical experience and support needed to build financial confidence from an early age.

About the TD Survey
This TD survey, conducted using the Leger Opinion panel, ran from April 17-27, 2026 with a nationally representative sample of 2,025 Canadians, including 1,408 adults aged 18+ and 617 children/youth aged 6-17. The results have been weighted by age, gender, and region (and in Quebec, language) to match the population, according to Census data. For comparison purposes, a probability sample of 1,400 has an estimated margin of error of ±2.6%, 19 times out of 20 and a probability sample of 600 has an estimated margin of error of ±4.0%, 19 times out of 20.

About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves 28.2 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Banking, including TD Auto Finance U.S. and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 14 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on July 31, 2026. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

SOURCE TD Bank Group