The majority of Canadians say they don’t have more than two-months worth of savings, according to a new poll.
In the Maru poll released on Tuesday, 62% of Canadians reported they lacked more than two months of savings to cover unexpected costs in the following 60 days.
Those who lacked savings were most likely to be from Alberta (48%), and the most common age demographic was between 18 and 34 (47%).
While Canadians were more confident they would keep their jobs compared to Maru’s previous monthly poll, the majority still had concerns about the financial state of Canada.
Two-thirds said Canada’s economy was on the wrong track – similar to an Abacus Data poll from February.
The Abacus Data poll found 55% of Canadians thought their country was on the wrong track, and seven-in-ten worried the government was ignoring the rising costs of living.
Maru on Tuesday wrote the Canadian public had a “negative/pessimistic” outlook on the economy, a multi-year low in confidence dating back to at least April 2021.
Maru conducted its online poll of 1,531 Canadians between February 24th and 27th.
Earlier in February, Statistics Canada reported a 37-year-record rise in the price of chicken, growing by 9% in one month.
Canadians have recently reported they think the average family is paying too much in taxes, and a food bank recently sounded the alarm about a 41% increase in users year-over-year.