Equifax finds 49% of young Canadians worry financial health could affect major milestones
EFX•An Equifax survey found 49% of Canadians aged 18–34 worry their financial health could affect major financial milestones within 12 months. Nationally, 27% reported such concerns, rising to 41% among households with children under 18.
1. Survey findings
Equifax's November 3 survey found that 49% of Canadians aged 18–34 worry their financial health could affect major financial milestones within 12 months. The figure was 27% nationally and 41% among households with children under 18.
2. Pressure on expenses
The survey found 15% of Canadians rely on credit or borrowing to cover essential expenses, rising to 24% in Atlantic Canada. Although they have strong credit scores, 19% struggle to cover expenses, including 25% of households with children under 18.
