Key findings from the survey spotlight the scope of monetary challenges Canadians face. 67 % of respondents reported carrying some type of debt, and 36 % expertise persistent worries about unstable earnings.
Monetary stress is extra pronounced amongst racialized Canadians, with 41 % indicating frequent considerations over inconsistent or unstable earnings.
Moreover, the survey exhibits that 28 % of Canadians have borrowed cash to cowl each day bills over the previous 12 months, a determine rising to 40 % amongst people beneath 35.
Non-investors additionally face hurdles, with 61 % indicating they lack the funds to take a position. Monetary uncertainty is especially sturdy amongst youthful Canadians, with 43 % of these aged 18 to 34 feeling not sure about the place to start out with regards to investing.
CIRO’s senior vice-president, Karen McGuinness, commented on these findings, stating, “Speaking about funds, together with debt, financial savings, and investments, can usually really feel like a taboo topic, nevertheless it’s a vital step in constructing monetary confidence.”
