Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week – the same proportion as last year when the economy was still mired in a downturn, according to a poll of 2,766 people by the Canadian Payroll Association.
59 per cent Canadians living paycheque to paycheque, survey finds
September 13, 2010
Okay, so the recession is largely over (debatably), and people should be back to their regular, conservative spending habits, right? WRONG!
According to the Globe and Mail:
So, despite the fact that Canadian households should be getting their day-to-day spending under control, they haven’t managed to as of yet. In addition, 80% of respondents indicated that if they were to win $1 million in a lottery, they would pay down their debt (which is an increase of 11% from last year).
The situation was exacerbated for young workers, with 2/3 of respondents indicating that they would struggle if they missed just one paycheque.
Sounds like us Canadians aren’t saving for a rainy day. I hope it doesn’t rain.