TORONTO — Young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year, according to Equifax Canada.
"This has been an incredibly stressful time for Canadian households, just managing day-to-day expenses," said Julie Kuzmic, senior compliance officer of consumer advocacy at Equifax Canada.
Meanwhile, 52 per cent of those surveyed between the ages of 18 and 34 are anxious about their personal debt, compared with 39 per cent overall. "It certainly isn't a surprise to see that the anxiety level across Canadians around their personal finances is relatively high. And unfortunately, there is very much likely to be a link between that those higher balances we're seeing on credit cards and that anxiety that people are feeling."
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