A recent poll by CIBC finds that repaying debt is the top financial goal for Canadians in 2023 as they scramble to cope with inflation and fears of recession.
The bank’s annual Financial Priorities poll released Wednesday found that 18 per cent of Canadians said repaying debt was their number one goal for the year ahead. Other top objectives included keeping up with bills and growing investments .
“When things feel uncertain, it’s important for people to focus on what is in their sphere of control. A financial professional can help Canadians plan for the unexpected and feel confident when faced with challenges in the year ahead.” The list of popular secondary goals was topped by saving as much as possible , followed by avoiding new debt, saving for a vacation, and cutting discretionary spending.
Forty per cent of working people are concerned about their job security and 60 per cent say the uncertainty makes it difficult for them to plan.
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