The majority of Canadians (79%) aren’t confident they’ll achieve their financial goals, finds a study by Financial Planning Standards Council (FPSC). Further, just 18% say they’re knowledgeable about financial matters.
Here are some additional findings.
- Women (73%) are more likely than men (63%) to worry.
- In terms of important financial goals, emergency fund ranked number one (94%), followed by major financial debt (93%), being prepared for a financial emergency (93%), and being free of common consumer debt, such as credit cards and lines of credit (92%).
- 35% report they aren’t active in having a financial strategy to deal with major life events or achieve goals.
- 69% report they don’t have a comprehensive, written financial plan.
- Young people are more likely to have a plan (37%) than those aged fifty-plus (27%).
As Canadians continue to juggle debt, budgeting, home ownership and retirement planning, here are some articles to help.