Key findings from the survey highlight the scope of financial challenges Canadians face. 67 percent of respondents reported carrying some form of debt, and 36 percent experience persistent worries about unstable income.
Financial stress is more pronounced among racialized Canadians, with 41 percent indicating frequent concerns over inconsistent or unstable income.
Additionally, the survey shows that 28 percent of Canadians have borrowed money to cover daily expenses over the past year, a figure rising to 40 percent among individuals under 35.
Non-investors also face hurdles, with 61 percent indicating they lack the funds to invest. Financial uncertainty is particularly strong among younger Canadians, with 43 percent of those aged 18 to 34 feeling unsure about where to start when it comes to investing.
CIRO’s senior vice-president, Karen McGuinness, commented on these findings, stating, “Talking about finances, including debt, savings, and investments, can often feel like a taboo subject, but it’s a crucial step in building financial confidence.”
