57% of Canadian households report incomes not keeping up with inflation, and 38% expect bill and loan payments to rise, leading to changes in saving habits.

Canadians' financial optimism has declined, with a TransUnion survey revealing concerns over inflation, income levels, and potential recession. 57% of Canadian households said their incomes aren't keeping up with inflation, while 38% expect bill and loan payments to rise in the next three months. This has prompted shifts in saving patterns, with some respondents increasing emergency fund savings, using available credit, or adjusting retirement savings plans.

July 09, 2024
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