Financial issues are impacting Canadians in significant ways. Here are some of the numbers.
Impacts of Financial Stress
Surveys show that personal finance is seen as the number one issue causing workplace stress. 61% of people surveyed cite finance as the greatest stressor and 45% say the stress is overwhelming.
- 33% of Canadians work past age 66 because they need to
- 40% of Canadians don’t pay off their credit card(s) at the end of the month
- 40% of Canadians find their debt load to be overwhelming
- 50% of Canadians report living pay cheque to pay cheque
- Approximately 25% of those in debt feel that they will never get out of debt
- 50% of Canadians don’t have a budget
- 48% of working Canadians feel they couldn’t pay their bills if their pay cheque was delayed one week
Sources: PWC – Employee Financial Wellness Survey (2016); Canadian Payroll Association