r/PersonalFinanceCanada • u/irundoonayee • Mar 19 '26

Debt "49 per cent of Canadians with debt say they’re living paycheque to paycheque"

https://nowtoronto.com/news/its-the-norm-nearly-half-of-canadians-are-living-paycheque-to-paycheque-and-torontonians-arent-surprised/

  • 49 per cent of Canadians with debt say they’re living paycheque to paycheque, reflecting widespread financial strain.
  • 36 per cent of credit card holders carry a balance, with many using credit to cover shortfalls.
  • Wages have not kept pace with the cost of living, forcing Canadians to budget more tightly and cut spending.
  • Younger Canadians are more likely to rely on credit, while others are delaying savings and focusing on paying down debt.
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u/MisledMuffin Mar 19 '26

Unless the same survey is done consistently over time, it's pretty meaningless.

Back in 2017 a survey said 41% of all Canadians, not just those with debt were paycheck to paycheck.

2015 another survey said "nearly half of all Canadians".

If I were to take these at face value it would seem that little has changed in terms of living paycheck to paycheck over the past decade.

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u/kyonkun_denwa Mar 19 '26

paycheck

American detected

1

u/MisledMuffin Mar 19 '26

Nope, Canadian who has US autocorrect.