More evidence was released in September that an alarming proportion of Canadians are in financial quicksand. The Canadian Payroll Association’s annual survey shows 40 per cent of working Canadians feel “overwhelmed” by their debt, with more than one-third of respondents saying they loaded up on leverage over the last year. (Will we ever learn). Meanwhile, one-fifth of respondents said they wouldn’t be able to scrape together $2,000 within a month in case of emergency.
Other disturbing data points include:
• 44% of Canadians live pay cheque to pay cheque
• 46% say financial stress is impacting their workplace performance
• 47% say they would be uncomfortable talking about debt with a colleague or peer