A new RBC survey suggests financial uncertainty has become the new normal for many Canadians as inflation eats into their savings and hampers their future financial security.
eats into their savings and hampers their future financial security.
The rising cost of living tops Canadians' list of worries, according to the poll, with 77 per cent of respondents saying they are not able to save as much as they would like to and roughly half saying they've never been more stressed about money.Craig Bannon, director of regional financial planning support at RBC, says more than one-third of Canadians don't have an emergency fund, further weakening their financial flexibility.
The RBC poll also found that Canadians are worried about a potential recession, with the majority saying it would be tougher on everyone to weather an economic downturn today than it was in 2008. If inflationary pressures continue into 2024, the poll finds 72 per cent of respondents with debt are worried about taking on more debt while 21 per cent said they might have to come out of retirement.
The survey, commissioned by RBC, polled 1,508 Canadian adults online between June 20 and 23. The poll cannot be assigned a margin of error because online surveys are not considered truly random samples.
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.
Financial uncertainty new normal for many Canadians, RBC survey showsTORONTO — A new RBC survey suggests financial uncertainty has become the new normal for many Canadians as inflation eats into their savings and hampers their future financial security. The rising cost of living tops Canadians' list of worries, according to the poll, with 77 per cent of respondents saying they are not able to save as much as they would like to and roughly half saying they've never been more stressed about money. Craig Bannon, director of regional financial planning support at RBC
Read more »
Financial uncertainty new normal for many Canadians, RBC survey showsA new RBC survey suggests financial uncertainty has become the new normal for many Canadians as inflation eats into their savings and hampers their future financial security.
Read more »
How Canadians will get more money from the government soonCanadians can expect to get some money from the government this fall to help with the soaring cost of living. Several of the federal government's...
Read more »
Immigration isn’t just a Conservative issue, Britain’s Labour Leader tells CanadiansKeir Starmer tells global centre-left summit that border policy must be managed by governments and action must be taken to stop criminal gangs trafficking and exploiting migrants
Read more »
More Canadians face financial hurdles as rents riseWith a housing shortage and record rent prices, advisors must think of alternatives to keep some clients afloat
Read more »