A new poll by Scotiabank has found 75 per cent of Canadians are worrying about their finances.
The results from Scotiabank’s third annual Worry poll found Canadians are most concerned about growing or protecting their investments, being able to pay for day to day expenses and also paying off debt.
Contributing to retirement is also an increasing source of worry.
The survey found, on average, Canadians are worrying about their finances 10 hours a week, which is up 25 per cent from 2020.
A third of Canadians say these concerns keep them awake at night.
The survey also found that the pandemic has changed the way younger Canadians view their short and long term money habits. Canadians between the ages of 18 and 34 who were surveyed worry on average around 12 hours a week about their finances.
Depending on where you live also has an impact. Residents in Atlantic Canada were the most likely to say they are stressed about the rising cost of living.
“More Canadians are being kept up at night with questions like, how they’re going to own a home, will they have enough to pay for their children’s education, and if they’ll have enough for retirement” said D’Arcy McDonald, Senior Vice President, Deposits, Investments & Payments at Scotiabank.
