36% of Canadians were struggling financially before COVID-19: Report

Article Link: https://torontosun.com/business/money-news/36-of-canadians-were-struggling-financially-before-covid-19-lockdowns-report#comments

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While many are struggling financially in the face of the COVID-19 lockdown, recent data shows more than a third of Canadians were already buried in debt before the recession, Blacklock’s Reporter reports. In Canadians and their Money: Key Findings from the 2019 Canadian Financial Capability Survey released in November, the Financial Consumer Agency of Canada found that 31% of Canadians felt they had too much debt. “Overall, about one third of Canadians (36%) indicated that they are struggling to manage their day-to-day finances or pay their bills,” the agency wrote in the report. “This is especially the case for those under age 65, who are much more likely to be struggling to meet their financial commitments.”