New research shows how inflation affects people\u0027s psyches, and it\u0027s making them feel like they\u0027ve lost control of their finances. Read more.
According to the Interac study, more than seven in 10 Canadians agreed that rising inflation has made it increasingly important to feel in control of their finances. At the same time, nearly half indicated pricing pressures have had a negative impact on their confidence in managing everyday finances.
Rhiannon Rosalind, chief executive of Conscious Economics, said people may face increased barriers to feeling in control of their money when they struggle with financial anxiety because they are likely to feel less confident. Almost half of Canadians admitted that they could do a better job at staying in control of their finances by sticking to a budget.
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