TORONTO—A new poll suggests that about half of working Canadians would be hard-pressed to meet their financial obligations if their paycheque was delayed for a week.
“What is alarming is the number of employees living paycheque to paycheque is steadily growing year after year,” said Rachel De Grâce, manager of advocacy for the Canadian Payroll Association (CPA).
The CPA’s survey found that 48 percent of respondents said they rely on each payday to cover their bills, with 40 percent admitting they spend an amount equal to all or more of their net pay each week.
A quarter of those polled also said they wouldn’t be able to scrounge up $2,000 if an emergency situation happened within the next month.
The survey highlights the growing number of Canadians unable to put away savings due to mounting debt and a weak economy.
