Many Canadians “lack a financial cushion” according to a new Angus Reid survey, which found majority of respondents under 55 could not handle an unexpected expense of more than $1,000.
“As housing costs continue to rise from this period of high interest rates, renters and mortgage holders feel squeezed,” the Angus Reid survey said.
This financial concern is compounded by half of those surveyed in the same age group, worrying about losing their jobs.
Key findings from the survey include:
Women aged 35 to 54 years old are most likely to report they can’t manage any unplanned bills, with a quarter saying they are “already too stretched” financially.
40 per cent of people told the survey they are not contributing to their Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) because “they don’t have enough to save.”
Higher interest rates are putting a strain on mortgage holders, with 29 per cent saying an unexpected $250 expense “would break the bank.”
John Lock, the director of marketing at Credit Counselling Society, a non-profit organization that provides financial advice to indebted Canadians, said his office has been flooded with calls this January.
“It has been busier that the last few years for sure,” Lock told CTV News. “The folks that we’re seeing are just overwhelmed with the costs that are bearing down on them.”
Lock says the combination of high food, gasoline, housing and debt servicing costs are squeezing household budgets.
“With folks not able to pay for their expenses or repay their lines of credit we’re seeing higher delinquency rates,” he said.
The Angus Reid survey goes on to say that the “Bank of Canada’s campaign against high inflation appears to have at least decelerated the rising cost of living.”
As the economy slows, the independent research company says there is evidence Canadians are anticipating a recession with “further dips in spending and job losses.”
Half of survey respondents under 55 fear they, or someone in their household, will lose their jobs.
“The last time fear of job loss was this high was during the uncertainty of the beginning of the second year of the pandemic,” the survey said.
The online survey reached a representative randomized 1,620 Canadian adults on January 16 and 17. A sample of this size would carry a margin error of +/-2 percentage points, Angus Reid said.
Polish President Andrzej Duda says while no decision has been made around whether Poland will host nuclear weapons as part of an expansion of the NATO alliance’s nuclear sharing program, his country is willing and prepared to do so.
One person was killed in a six-vehicle crash on Highway 400 in Innisfil Friday evening.
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
Harvey Weinstein’s lawyer said Saturday that the onetime movie mogul has been hospitalized for a battery of tests after his return to New York City following an appeals court ruling nullifying his 2020 rape conviction.
A number of LGBQT+2s groups in Central Alberta are pushing back against a request from the Red Deer South UCP constituency to reinstate MLA Jennifer Johnson into the UCP caucus.
It's one thing to say you like Taylor Swift and her music, but don't blame CNN's AJ Willingham's when she says she just 'doesn't get' the global phenomenon.
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
A girl and a boy, both 14 years old, made their first appearance today in a Halifax courtroom, where they each face a second-degree murder charge in the stabbing death of a 16-year-old high school student.
South Africa marked 30 years since the end of apartheid and the birth of its democracy with a ceremony in the capital Saturday that included a 21-gun salute and the waving of the nation's multicolored flag.
One person was killed in a six-vehicle crash on Highway 400 in Innisfil Friday evening.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
A number of LGBQT+2s groups in Central Alberta are pushing back against a request from the Red Deer South UCP constituency to reinstate MLA Jennifer Johnson into the UCP caucus.
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
A Toronto-based restructuring firm says several bidders have offered to buy all or part of SaltWire Network and The Halifax Herald, the two insolvent companies that operate Atlantic Canada's largest newspaper enterprise.
A Regina police officer was injured after another officer's gun was accidentally fired while conducting a search warrant early Friday morning.
The 75-year-old British monarch will slowly ease back into public life after a three-month break to focus on his treatment and recuperation after he was diagnosed with an undisclosed type of cancer.
The first criminal prosecution of a former president began in earnest with opening statements and testimony in a lower Manhattan courtroom. But the action quickly spread to involve more than half a dozen cases in four states and the nation's capital. Twice during the week, lawyers for Trump were simultaneously appearing in different courtrooms.
As students protesting the Israel-Hamas war at universities across U.S. dug in Saturday and vowed to keep their demonstrations going, some universities shut down encampments after reports of antisemitic activity among the protesters.
Yemen's Houthi rebels on Saturday claimed shooting down another of the U.S. military's MQ-9 Reaper drones, airing footage of parts that corresponded to known pieces of the unmanned aircraft.
South Africa marked 30 years since the end of apartheid and the birth of its democracy with a ceremony in the capital Saturday that included a 21-gun salute and the waving of the nation's multicolored flag.
D.C. Metropolitan Police Department Assistant Chief Ramey Kyle said officers were called after a dispute started inside the nightclub and “spilled into the street.”
Ottawa has plans to finally stop blocking Canadian development aid to Afghanistan this year.
Polish President Andrzej Duda says while no decision has been made around whether Poland will host nuclear weapons as part of an expansion of the NATO alliance’s nuclear sharing program, his country is willing and prepared to do so.
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Breast cancer rates are rising in Canada among women in their 20s, 30s and 40s, according to research by the University of Ottawa (uOttawa).
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
State-sponsored actors targeted security devices used by governments around the world, according to technology firm Cisco Systems, which said the network devices are coveted intrusion points by spies.
TikTok is in the crosshairs of authorities in the U.S., where a new law threatens a nationwide ban unless its China-based parent ByteDance divests. Here are the places that have partial or total bans on TikTok.
The Hubble Space Telescope has captured a stunning new image of the glowing gas ejected from a dying star, which in this case happens to resemble a 'cosmic dumbbell.'
Harvey Weinstein’s lawyer said Saturday that the onetime movie mogul has been hospitalized for a battery of tests after his return to New York City following an appeals court ruling nullifying his 2020 rape conviction.
Taking place in May in Malmo, Sweden, the 68th annual competition will see acts from 37 countries vie for the continent’s pop crown in a feelgood extravaganza that strives — not always successfully – to banish international strife and division. And you don’t have to be in Europe to watch, or to help pick the winner.
It's one thing to say you like Taylor Swift and her music, but don't blame CNN's AJ Willingham's when she says she just 'doesn't get' the global phenomenon.
The federal and Quebec governments are spending close to $100 million to boost the country's manufacturing capacity for semiconductors, which are vital in technologies ranging from artificial intelligence to quantum computing.
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
Ford’s electric vehicle unit reported that losses soared in the first quarter to US $1.3 billion, or US$132,000 for each of the 10,000 vehicles it sold in the first three months of the year.
Take an illustrated look back at the culinary history of Winnipeg.
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
William Nylander is poised to join the Stanley Cup chase.
The 22-time Grand Slam champion, Rafael Nadal, beat Alex de Minaur 7-6 (6), 6-3 in the second round of the Madrid Open on Saturday, avenging a loss to the Australian less than two weeks ago.
Evander Kane’s teammates believe he’s tailor-made for the playoffs, and so does the man himself.
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Ford’s electric vehicle unit reported that losses soared in the first quarter to US $1.3 billion, or US$132,000 for each of the 10,000 vehicles it sold in the first three months of the year.
Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.
As if a 4-0 Edmonton Oilers lead in Game 1 of their playoff series with the Los Angeles Kings wasn't good enough, what was announced at Rogers Place during the next TV timeout nearly blew the roof off the downtown arena.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
A large police presence in Surrey's East Newton neighbourhood Friday night is now a homicide investigation, local Mounties said Saturday.
King George SkyTrain Station closed Saturday morning and won't be open again for weeks.
An evacuation alert for residents in areas around Chetwynd, B.C., has been lifted just days after a wildfire forced some residents from their homes.
William Nylander is poised to join the Stanley Cup chase.
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
One person has been charged with second-degree murder in connection with the death of a man who fell from a balcony following an altercation inside a Toronto apartment building.
A number of LGBQT+2s groups in Central Alberta are pushing back against a request from the Red Deer South UCP constituency to reinstate MLA Jennifer Johnson into the UCP caucus.
Rain barrel sale season kicked off Saturday morning with a splash.
Montreal comic book artists Ben and Ray Lai claim Marvel and Disney are abusing the legal process in the Lai brothers' copyright infringement suit against the industry giants.
Ontario Provincial Police are asking for the public's help in locating a missing man from Newfoundland who disappeared in eastern Ontario.
The Ontario Provincial Police (OPP) asked drivers to expect delays after a single-vehicle collision on Highway 15 near Brewers Mills Road Saturday morning.
The City of Ottawa says the release of the first draft provisions for Ottawa’s new zoning bylaw marks the start of the next step of the city’s growth and development.
Canadian tennis player Leylah Fernandez was ousted Saturday in the third round of the Madrid Open in a three-set loss to Tunisia's Ons Jabeur.
Montreal comic book artists Ben and Ray Lai claim Marvel and Disney are abusing the legal process in the Lai brothers' copyright infringement suit against the industry giants.
Quebec provincial police say a 51-year-old woman has died after a head-on collision in the town of Lachute, roughly 50 kilometres west of Montreal, early this morning.
Evander Kane’s teammates believe he’s tailor-made for the playoffs, and so does the man himself.
Science recently proposed a truly horrifying thought — that T. Rex, perhaps the most fearsome predator to walk the earth, was also smart enough to use tools, hunt in packs and pass down knowledge.
A number of LGBQT+2s groups in Central Alberta are pushing back against a request from the Red Deer South UCP constituency to reinstate MLA Jennifer Johnson into the UCP caucus.
A Toronto-based restructuring firm says several bidders have offered to buy all or part of SaltWire Network and The Halifax Herald, the two insolvent companies that operate Atlantic Canada's largest newspaper enterprise.
Halifax’s professional soccer team kicks off its sixth season against Ottawa on Saturday with a sold-out crowd of 6,500 fans on the Wanderers Grounds.
Police say a man wanted on a Canada-wide warrant has been arrested in Saint John, N.B.
The trial for the man accused of killing four Indigenous women in Winnipeg is set to get underway on April 29.
Winnipeg Fire Paramedic Service crews were busy Saturday morning, responding to five different structure fires within several hours.
With heavy wind gusts expected along Lake Manitoba and Lake Winnipeg this weekend, the provincial government is warning residents and property owners about potential ice pileups.
A teen boy is facing several charges after he stole items from a business on Friday in Regina.
Regina fire crews responded to a late night blaze on Friday night at a house on the 1900 block of St. John Street.
RCMP have identified 28-year-old Brianna Hayes from Oxbow, Sask. as the victim in an ongoing homicide investigation in the province’s southeast. As a result, police have charged 24-year-old Taylor Japp, also from Oxbow with second degree murder, an RCMP news release said.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
A driver has been arrested and a pedestrian has been seriously injured following a hit-and-run crash in Cambridge.
An established horse riding school in Centre Wellington is hanging up the saddle after five decades in business.
Workers at group homes run by LutherCare Communities in Saskatoon are escalating their strike action.
The Saskatoon Police Service (SPS) and Saskatchewan Coroners Service are investigating after a woman’s body was found at a recycling facility Friday morning.
Over six months after Saskatchewan's government announced a significant $90 million investment in social services, the initiative is reportedly making progress.
Two hunters from North Bay, Ont., and a third from Temagami pled guilty recently to offences they committed during a 2022 moose hunt.
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
One person was killed in a six-vehicle crash on Highway 400 in Innisfil Friday evening.
A 24-year-old man who died Friday in a car crash on Highway 401 has been identified as Omar Barzak from London, Ont.
At an event in which she was celebrated for her advocacy of women’s issues, Karen Vecchio was in no mood to speak about her removal from her role of chair of Federal Parliament’s Status of Women Committee.
The London Knights resumed their playoff push on Friday night against the Saginaw Spirit at Budweiser Gardens.
One person was killed in a six-vehicle crash on Highway 400 in Innisfil Friday evening.
Police in Caledon are investigating a crash that left one person with life-altering injuries.
A 16-year-old from Orillia has been charged with careless driving after reportedly 'skidding around' and striking a light post.
A former graduate of Holy Names High School will soon be moving to New York after being selected during the NFL Draft in Detroit on Saturday.
Playing bingo in April made a local resident $100,000 richer -- and will keep him in his home.
Kids who have never played league soccer but have been eager to step on a professional turf are getting their first opportunity to shine. Thanks to a microgrant from Soccer Canada, the Windsor Soccer Club hosted a Free Kicks Day at the Novelletto Rosati Complex on Saturday.
J.T. Miller had a goal and assist and the Vancouver Canucks edged the Nashville Predators 2-1 to re-take the lead in their first-round playoff series.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
State-sponsored actors targeted security devices used by governments around the world, according to technology firm Cisco Systems, which said the network devices are coveted intrusion points by spies.
An emaciated dachshund is now recovering thanks to a Good Samaritan who found the pup near a biking trail in Kelowna, according to the BC SPCA.
Search and rescue crews have been called in after a vehicle belonging to a missing senior was located near a rural intersection outside of Kelowna Tuesday.
Major crime detectives in British Columbia are investigating a suspected homicide after a body was found in a remote area southeast Kelowna over the weekend.
The Brooks Bandits got down to business Friday, defeating the Okotoks Oilers 8-2.
An Alberta political scientist said the NDP leadership hopefuls remained fairly even following the first of the party’s debates.
It was a busy Wednesday evening for fire crews in Lethbridge County after multiple grass fires were sparked near the Kipp rail yard.
About 100 delegates from around the province travelled to Timmins, Ont., for its annual general meeting and convention at Cedar Meadows Resort and Spa.
The City of Sault Ste. Marie is looking for community input on some design concepts for the waterfront.
Meeting next week, city council in Sault Ste. Marie will get an overview of what to expect if it decides to implement a new tax on empty homes in the city.
Legendary sportscaster Bob Cole was a Newfoundlander through and through, and his daughter says his connection to the province was 'everything' to him.
Cenovus Energy has been ordered to pay a $2.5-million fine for its role in the largest offshore oil spill ever recorded in Newfoundland and Labrador.
As more Canadians find themselves struggling to afford or find housing, the country's smallest province is the only one that can point to legislation recognizing housing as a human right.
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