Canadians feeling less financially secure since COVID

Younger Canadians appear to be feeling the impact of the pandemic the greatest with 49 per cent feeling less financially secure

A recent Sun Life survey indicates that nearly half of all Canadians (45 per cent) feel less financially secure since COVID-19 began and 44 per cent of those who say their mental health has been affected by the pandemic identify financial stress as the main factor.

“Across the population, younger Canadians appear to be feeling the impact of the pandemic the greatest with 49 per cent feeling less financially secure. In fact, over half of young Canadians surveyed (55 per cent) report having made changes to their financial goals and plans due to the pandemic with 29 per cent saying they have had to dip into their savings during COVID-19,” said Sun Life in a news release.

 

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