A new study from Statistics Canada reveals that nearly half of Canadians are finding it increasingly difficult to cover daily expenses due to rising prices. The study shows that 45 percent of Canadians are facing financial strain, a significant increase of 12 percentage points compared to two years ago.
The study highlights that financial stress is most acute among young adults, who are more likely to report difficulties managing their finances. Among those experiencing financial stress, only 20 percent reported a high level of life satisfaction.
The study also found that households with children are more likely to feel financial pressure, with 55 percent of these households reporting daily financial strain. In contrast, 37 percent of single-occupant households reported similar stress levels.
