The good news is that a majority maintain a budget to help keep their spending on track each month. The top expenses they account for include grocery bills, filling up at the gas station, entertainment and savings.
“In many cases, monthly mortgage payments, along with taxes, account for one of the largest monthly expenses Canadians face,” Alana Riley, IG’s head of Mortgage, Insurance and Banking, said in a press release. “So, while it is encouraging that so many report having a monthly budget, it’s only a partial snapshot of their overall cash flow situation if they don’t factor in their mortgage.”It’s crucial to have a clear picture of your finances as the cost of living rises.
Those added costs have many worried about making ends meet: 43 per cent said they’re concerned they won’t be able to cover all their bills each month, and another 60 per cent are actively trying to cut back on their spending., which found that 76 per cent of Canadians are stressed out about money right now. Finances are stretched to the limit, and half of respondents said they wouldn’t be able to cover an unexpected expense of $1,000 or more.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Posthaste: Canadians are worried about rising mortgage payments, but that doesn't mean they're budgeting for themOnly 39% of mortgage holders include their mortgage bill in their monthly budget, survey says What goes up.... 😳 Perhaps people don’t have means enough to budget between food and payments to institutions. How about considering that? How on earth can you budget for this with the price of the most basic things going up? I haven’t gone to a movie, eaten a meal at a restaurant or even bought a coffee from a shop.I have cut out what is a luxury just to stay a float.I would love to spend 12k/month like JT on food
Source: nationalpost - 🏆 10. / 80 Read more »
Posthaste: Canadians are worried about rising mortgage payments, but that doesn't mean they're budgeting for themOnly 39% of mortgage holders include their mortgage bill in their monthly budget, survey says Average Canadian's Idea of Budgeting....' Holy Sh:t !!!! , we spent how Much!?!?'.
Source: fpinvesting - 🏆 43. / 63 Read more »
Posthaste: Canadians are worried about rising mortgage payments, but that doesn't mean they're budgeting for themICYMI - Posthaste: Canadians are worried about rising mortgage payments, but that doesn't mean they're budgeting for them It’s very difficult for most CDNs to budget for unexpected price increases. Too many are tapped out and already very indebted b/c of housing costs. CDNs are borrowing $$ to buy food. The same affordability housing costs Trudeau promised to address in 2015. How’s that working out?
Source: nationalpost - 🏆 10. / 80 Read more »