Half of Canadians Live Paycheque to Paycheque

Almost half of Canadians live paycheque to paycheque, a new survey has found. But that number is down from last year.

According to a Canadian Payroll Association poll, 47% of Canadians live payday to payday in 2012, reporting they would struggle if their paycheque was delayed by even one week. That’s down from 57% in 2011.

That kind of financial juggling is most common in the Maritimes, where 54% rely on their next paycheque to get by, followed by Manitoba at 53% and Ontario at 52%. It’s the least common in Quebec, at 33%.  Read More…

Replies to this Post

  1. Elliott Mann says:

    And here we are in the age where credit is easy and people have no sense of saving responsibility. This is not a surprise. Canada is not the only country with this problem. It seems to be part of human nature of being selfish animals always wanting more.

  2. Unknown A. says:

    I wish i had a paycheque to spend 🙁

  3. Kelvin L. says:

    Truly embarrassing but absolutely true! Yes things have improved from 57 down to 47 but this is only cosmetic and temporary. Things will continue to grow worse since there is no real classes for our kids to understand the importance of being responsible. *sigh*

  4. Karan C says:

    This is so true. I think most Canadians have this problem. I know all of my friends are part of this statistic.

  5. Stacey Ponsler says:

    I doubt most people who visit this site will have problems living paycheck to paycheck since its clear people who visit are more responsible with their money. We are the minority.

  6. Marvin says:

    My guess is most of their money is going to paying down finance charges on the debt they’ve accumulated on credit cards, LOC, and others. It’s a total mess. And credit issuers love it.

  7. Shamar says:

    For those who think saving is easy. It isnt. With so many responsibilities it’s very easy to lose track on how much you have available and new things that pop up.

  8. Adam Matthews says:

    Paycheque? I live day-to-day with cash! I’ve got you all beat!

  9. Cleveland K says:

    LOL it says Canadians are better at saving now. 47% is not a good number. I still dont understand. Am i the only one saving and making contributions to my RRSP? Am i the only one who took the crazy pill?

  10. Aryan H. says:

    What exactly are these people buying with thier paycheques? Is it all to weed and liquor or what?

  11. Bryan says:

    Good! Unless Canadians learn the need to properly Save then we should not feel sorry for them falling into despair because last weeks check has disappeared in booze guzzling.

  12. Anaya says:

    Really? I’m mean seriously? Maybe they should be looking to better schooling so they can get a job that pays more than one at a counter in McDonalds.

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