Financial uncertainty new normal for many Canadians, RBC survey shows
BNN Bloomberg
A new RBC survey suggests financial uncertainty has become the new normal for many Canadians as inflation eats into their savings and hampers their future financial security.
The rising cost of living tops Canadians' list of worries, according to the poll, with 77 per cent of respondents saying they are not able to save as much as they would like to and roughly half saying they've never been more stressed about money.
Craig Bannon, director of regional financial planning support at RBC, says more than one-third of Canadians don't have an emergency fund, further weakening their financial flexibility.
The RBC poll also found that Canadians are worried about a potential recession, with the majority saying it would be tougher on everyone to weather an economic downturn today than it was in 2008.
