Real Estate News

Canadian Financial Concerns and Strategies for 2024 Navigating a Changing Economic Landscape


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Canadians are entering the new year with concerns about their financial stability amid fears of a looming recession. Ipsos polling revealed that a significant portion of the population is worried about the financial strain they face, with 66 percent fearing they might need to delay major life plans like buying a home, starting a family, or traveling due to their financial situation. Additionally, nearly 70 percent are anxious about handling unexpected expenses of $1,000 or more, while over half are concerned about affording food for their families.

Heading into 2024, more than half of Canadians plan to cut back on expenses such as dining out, seeking sales, and reducing entertainment spending. Darrell Bricker, Global CEO of Ipsos Public Affairs, expressed concern about the visible stress among people, noting how they are readjusting their spending habits, from reconsidering holiday expenses to cutting back on non-essential purchases like clothing and restaurant visits. He emphasized that the rising cost of living affects various demographics and regions across Canada, impacting younger spenders like Gen X as well as seniors, who worry about their retirement lifestyles.

Read the full article on: Global NEWS


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Amandeep Singh
Amandeep Singh
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