Repaying debt is the number one financial goal for Canadians welcoming 2023, according to CIBC’s annual Financial Priorities poll.
The top financial concerns, CIBC reports, are inflation, rising interest rates and general recessionary fears, underscored by 55 per cent of Canadians believing they need to get a grip on financial uncertainties."The current economic environment has, understandably, prompted Canadians to re-assess their financial priorities for 2023," said Carissa Lucreziano, CIBC's vice-president of financial and investment advice, in a press release.
But added to the mix is the looming possibility of a recession next year, which the majority of poll participants claim to be worried about. The poll also identified that other top priorities leading into 2023 include keeping up with bills and growing investments, and secondary financial objectives include increasing savings, avoiding debt and saving for a vacation.
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