Canadians worried about finances

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.

Help clients better manager their finances

Don’t let clients avoid estate planning

Canadians risk paying more tax if they wait to plan: Golombek

Taxes for first-time homebuyers

Offer to help overspending clients

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.