The majority of Canadians say they have cut spending in recent months, and two thirds of Canadians say they are stressed about money, according to an Angus Reid Institute survey.
The majority of Canadians say they have cut spending in recent months, and two thirds of Canadians say they are stressed about money, according toThe research also found that more than half of Canadians can’t keep up with the cost of living.
In a study of 2,279 respondents, 42 per cent said they are delaying a major purchase, 41 per cent said they are driving less, and 57 per cent said they are cutting back on general discretionary spending.According to Angus Reid, Canadians in Saskatchewan and Atlantic Canada are 50 per cent more likely than those in other parts of the country to “use a sudden gift of $5,000 towards paying off debt” if given one.
Older Canadians, the findings suggest, report to being better positioned to “endure unforeseen expenses.” “Those in the 35-to-54 age group are least likely to be able to comfortably afford extra expenses,” reads the report.