An Angus Reid survey finds one in six Canadians is living on the edge financially.
The study went beyond the usual income-based measures of poverty asking about the use of payday loan services and food banks, if the respondent has been unable to pay a utility bill, if they can afford dental care, and more. There were 12 situations in all. Sixteen per cent said they experience at least four of them; 77 per cent are struggling with at least one on a regular basis.
More than one in five people in the “struggling” group have household incomes between $50,000 and $100,000. Still, they are facing financial difficulty, which might be due to debt, the cost of living in their area or the expense of child-rearing.
Many feel their financial situation is worse than their parents was at the same stage of life.
More Key Findings:
- Almost one-in-three Canadians (31%) feel “very stressed about money” on a regular basis – either “often” or “all the time
- More than half of Canadians (52%) believe poverty has been increasing where they live in recent years. Fewer than one-in-ten (9%) say poverty has been on the decline in that time
- Three-in-ten Canadians (30%) are pessimistic about their personal financial situation over the next few years
More Canadians believe their children’s generation will be worse off (43% do) than themselves than believe they will be better off (32%)