Post by
mouserman on Apr 30, 2024 9:11am
Canadians feeling the inflation pinch, same as the world is
The Globe and Mail reports in its Tuesday edition that despite some financial indicators showing signs of improving, many people are feeling financially stressed. Guest columnist Saira Peesker writes that recent polls show people around the world struggling with debt and feelings of financial insecurity, and predicting bleaker futures for themselves as a result. A recent CNBC/SurveyMonkey poll in several countries found inflation to be the leading financial stress or among adults globally, with about half stressed about their finances and the same number stating they are falling behind on their retirement planning. The most recent instalment of the MNP Consumer Debt Index find most Canadians (58 per cent) struggle with anxiety over money they owe. The most recent instalment of the survey, issued in early April, found almost half of Canadians (45 per cent) say they are $200 or less away from "failing to meet all their financial obligations," including three in 10 (31 per cent) who are technically insolvent and say they already cannot cover their bills and debt payments each month. Those findings echo a TD Bank survey that found higher household income does not necessarily translate to a more positive financial outlook.