Monetary anxieties embrace fears of sudden bills (82 p.c), issues about total monetary stability (82 p.c), housing prices (73 p.c), family-related bills (67 p.c), and managing month-to-month payments (64 p.c).
Regardless of these challenges, most Canadians (87 p.c) really feel they’re making actual monetary progress, and 72 p.c categorical optimism about their monetary future in 2025. Over a 3rd (37 p.c) report feeling extra financially safe than they did a yr in the past.
Round 21 p.c of Canadians plan to set monetary objectives or a price range for 2025. Among the many 69 p.c who have already got monetary targets, saving for retirement (58 p.c), trip planning (47 p.c), and paying down debt (40 p.c) are prime priorities.
Nonetheless, many Canadians lack structured plans. Solely 33 p.c presently have a monetary plan, and 59 p.c should not have a family price range. Whereas 36 p.c anticipate making important purchases within the coming yr, 24 p.c intend to regulate their plans to account for the rising value of residing.
The report additionally notes that 92 p.c of Canadians evaluation their monetary plans not less than as soon as yearly, indicating a widespread dedication to staying on prime of monetary administration.