Financial struggles
With inflation taking a larger share of Canadian household budgets, a significant minority report being in financial dire straits: 28% say they are barely keeping their head above water, up 10 percentage points since 2020.
The percentage reporting that they are in great shape financially and able to handle anything that comes over the longer term is just 17%, while 55% say their finances are good but remain concerned about the long-term outlook. In April 2020, 61% said their finances were good.
Younger Canadians (18-54 years old) are most likely to say their finances are in bad shape (31%) including 6% who cannot manage. Women aged 35-54 are most likely to be struggling (42%).
Only around 15% of men and women over 55 say their finances are in bad shape with 60% reporting that they are good and one in five in great shape.
Regional variations
Financial anxiety is not evenly distributed across the country.
