Majority of Canadians stressed about their finances

The survey found that one-in-three Canadians are fearful of losing their job due to the pandemic

Majority of Canadians stressed about their financesA new survey released Tuesday by the Canadian Payroll Association finds that 58 per cent of Canadians feel more stressed about their finances due to the COVID-19 pandemic.  “The repercussions of the pandemic continue to threaten our country’s return to stability. Our research shows that COVID-19 has directly affected the financial stress of working Canadians,…

Money is the top stressor for Canadians today

Kelley Keehn, author, finance educator and Consumer Advocate for FP Canada, talks about stress, money and tough times due to COVID

On today's episode of Business Insider with Mario Toneguzzi, Kelley Keehn, author, finance educator and Consumer Advocate for FP Canada, talks about stress, money and tough times due to COVID.  

Surviving a bankruptcy and becoming successful

Sue Styles, a professional speaker and author and CEO of Maximized Results Consulting, talks about surviving a bankruptcy and becoming successful

On today's episode of Business Insider with Mario Toneguzzi, Sue Styles, a professional speaker and author and CEO of Maximized Results Consulting, talks about surviving a bankruptcy and becoming successful.  

Post-secondary students experiencing financial concerns

35 % of post-secondary students said they no longer have a job placement or summer job this year, and 33% have lost income due to a reduction of work hours

Post-secondary students experiencing financial concernsA new poll, released Monday by CIBC, indicates that  87 per cent of post-secondary students in Canada are experiencing one or more financial concerns including how tuition and living expenses will be funded next term.  The poll also found that 68 per cent indicate their income would be impacted by the pandemic, compared to 36…

6% of Canadians unable to afford food or shelter

Nearly 1 in 4 (22%) are very stressed about their overall financial, while 25% are not stressed at all

6% of Canadians unable to afford food or shelterThe COVID-19 pandemic has had some serious consequences for Canadians and their finances. Here are some key results from a result survey by J.D. Power on the impact the crisis has had on people: General Perceptions  1 in 4 Canadians (24%) are working fewer hours and 12% temporarily lost their jobs and still not working,…

Canadian household finances to face serious test from COVID-19

TD said it expects it will take until at least the second half of 2021 for the unemployment rate to return to its pre-crisis level

Canadian household finances to face serious test from COVID-19Canadian household finances were stretched coming into this year and will face a serious test from COVID-19, says a report by TD Economics. Temporary income replacement and debt deferral programs will go a long way in helping households whose livelihood has been impacted by the pandemic, but economic disruptions brought about by the pandemic will…

Household debt to disposable income eases

There was $1.76 in credit market debt for every dollar of household disposable income in the fourth quarter for Canadians

Household debt to disposable income easesHousehold credit market debt as a proportion of household disposable income declined from 176.6 per cent to 176.3 per cent in the fourth quarter of 2019, according to Statistics Canada. “In other words, there was $1.76 in credit market debt for every dollar of household disposable income,” said the federal agency in a report on…

Almost 80% of Gen Xers have financial concerns

Study finds 58% of Canadians consider themselves savers, while 37% self-identify as spenders. Boomers most likely to identify as savers (62%)

Almost 80% of Gen Xers have financial concernsA survey released by Edward Jones on Tuesday says 77 per cent of Gen Xers (40-54) have financial concerns while only 47 per cent of Boomers (55-75) state they do not have any financial worries. While Millennials (25-39) and Boomers (55-75) are more likely to spend their money on experiences such as dinners, concerts, and…

2 Calgary fintech companies get boost from accelerator

Innovate Financial Health is granting four Canadian tech startups $25,000 each in funding to help build and scale financial solutions

2 Calgary fintech companies get boost from acceleratorTwo Calgary companies devoted to helping the financial lives of Canadians are among four selected for Innovate Financial Health’s inaugural cohort. Innovate Financial Health is a national non-profit founded in 2018 to support the creation and scaling of innovative products and services that improve the financial lives of Canadians. It is supporting four Canadian tech…

1 in 3 Canadians say they are ‘insolvent’ by each month’s end

Accounting firm survey finds a growing shift among some Canadians from debt apathy to 'debt hopelessness' as it becomes harder to pay their bills

1 in 3 Canadians say they are ‘insolvent’ by each month’s endOne in three Canadians say they are insolvent at each month end, and nearly half arent't sure they will be able to cover their family and living expenses without going further into debt this year, accroding to accounting firm MNP.  “Our findings may point to a shift among some Canadians from debt apathy to debt hopelessness,”…