There’s no shortage of financial stressors for your clients, even for those who say they’re on track to meet their financial goals.
A new poll finds that even though 73% of Canadians are confidant in their financial plans, nearly 65% still say they could improve their financial habits. In fact, nearly half (43%) say they don’t regularly save money, while one quarter admit to overspending and living beyond their means.
Other top concerns include:
- not sticking to budgets (17%);
- accumulating debt (17%); and
- failing to pay monthly credit card bills (16%).
On the upside, the poll says most Canadians (66%) have reviewed their financial goals in the last six months. Most people want to save for retirement (43%) and save for dream vacations (33%). The full list of people’s goals includes:
- repaying loans (32%);
- purchasing vehicles (31%);
- paying mortgages (29%);
- purchasing houses or condos (22%);
- saving for life events (18%); and
- saving for children’s educations (18%).
To achieve these goals, says the poll, most Canadians are putting together budgets (51%) and examining monthly spending habits monthly (55%).