TORONTO — A new survey by the Canadian Payroll Association suggests nearly half of workers are living paycheque to paycheque due to soaring spending and debt levels. The poll found that 47 per cent of respondents said it would be difficult to meet their financial obligations if their paycheque was delayed by even a single week. The survey, which polled 4,766 Canadian employees between June 27 and Aug. 5, also found that 35 per cent said they feel overwhelmed by their level of debt. Of the major reasons for increased spending, 32 per cent of respondents pointed to higher living expenses while 25 per cent mentioned unexpected expenses. “These results underscore the need for spending less and saving more every day, for emergencies and for retirement,” says Janice MacLellan, the Canadian Payroll Association’s vice-president of operations.

Source: National Post September 06, 2017 03:56 UTC