Nearly two-thirds of Ottawa residents are concerned about their finances as the cost-of-living rises, according to a new report. The new Financial Anxiety Index Poll, released by United Way Centraide Canada, shows approximately 66 per cent of Ottawa residents are concerned about their finances this year, up from 55 per cent in last year’s survey. The survey, conducted by Léger, also found 47 per cent of respondents from Ottawa are struggling to put food on the table, higher than the national average of 38 per cent. “This reality leaves nearly half of the city highly vulnerable to sudden, unexpected inflationary shifts or income disruptions,” the United Way East Ontario said in a statement. “It also leads to long-term financial stability feeling out of reach for many people navigating our local economy.“ The survey also found 47 per cent of Ottawa residents say they have a financial buffer of one month or less to cover basic expenses, up from 42 per cent last year. Across Canada, 66 per cent of Canadians said they feel anxious about Canada’s economic outlook, including 21 per cent who are very anxious. In Ontario, 71 per cent of residents said they were anxious about the economy, while 53 per cent of Quebec residents said they were anxious. According to the Leger survey, 61 per cent of respondents across Canada reported higher spending on food over the past six months, while 49 per cent are spending more on housing and 47 per cent are seeing an increase in child-related expenses. “This data paints the picture of the challenges people in our communities are facing right now.” Rachael Wilson, president and CEO of United Way East Ontario, said. “The reality is, parents are lying awake at night worrying about bills, youth are struggling to focus on school or work because they’re hungry, and families are forced to make difficult choices just to get by.” The United Way says the data shows the importance of a strong community safety net with supports for residents. United Way Centraide Canada says it mobilizes over $600 million in vital programs each year, from housing assistance and poverty reduction to long-term financial literacy.
