A quarter of Canadians unable to cover a $500 emergency, Statscan survey finds
, said Douglas Hoyes, a co-founder of the trustee firm, Hoyes, Michalos & Associates Inc., which published its report based on its analysis of 2,700 personal insolvency filings.
Half of the survey’s Black respondents and nearly four in 10 Filipino respondents said they wouldn’t be able to cope with the sudden expense. A recent report by the Canada Mortgage and Housing Corporation found that the average annual rental rate for a housing unit that had just switched tenants climbed by 18 per cent in the year leading up to October, 2022.For younger Canadians,
Many young people who carry student loans and seek to borrow more money face high interest rates, because of their overall high debt-to-income ratios, Mr. Hoyes said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One in four Canadians would be unable to afford a sudden expense of $500: StatCanA quarter of Canadians say they would be unable to cover an unexpected expense of $500, according to new data from StatCan.
Read more »
A quarter of Canadians unable to cover a $500 emergency, Statscan survey findsSoaring rents, along with heavy student-debt loads, were the primary drivers of financial distress among Canadians between the ages of 26 and 41
Read more »
Here’s how I made $500 in one week by simply purging my clutterBe like decluttering queen Marie Kondo and rid your life of stuff that doesn’t bring you joy, writes Leslie-Anne Scorgie. The result can be quite profitable.
Read more »
One in five B.C. residents can't cover an unexpected $500 bill, poll showsAlmost half of British Columbians surveyed reported being very concerned with their ability to afford housing or rent.
Read more »
1 in 4 Canadians can’t afford $500 unforeseen expense as inflation bites: report - National | Globalnews.caNew data by Statistics Canada showed that one-third of the population found it hard to make ends meet over the past year as inflation hit a 40-year peak.
Read more »
Moving homes to save and shrinking emergency funds. New report outlines Canadians’ financial worriesOne in four Canadians say they could not afford an unexpected expense of $500, according to Statistics Canada.
Read more »