Personal Finance: Where Canadians Stand

Canadians & Money Where Canadians Stand HOW MANY CANADIANS ARE SATISFIED WITH THE HOUSEHOLD BUDGETS CURRENT STATE OF THEIR FINANCES? 13% Dissatisfied Satisfied Total: 56% 44% Cities: Income: 1. Toronto: 51% 49% 57% <550K: 43% (2 Calgary: 55% $51-99K: 56% 44% 45% 45% Vancouver: 55% 45% $100K+: 73% 69% THE PRIMARY RESPONSIBILITY FOR HOUSEHOLD FINANCES LIES WITH ONE FAMILY MEMBER OR IS EQUALLY SHARED BETWEEN TWO. 80 E-----63% 60 --- 40% 40 -- $51-99K Household Income <$50K $100K + Other 3% 49% You are primarily responsible: 50% 5% You share equal responsibility with someone in your home: 45% Delegate to 3rd party outside household 1% 1% 17% 1% Household Income 56%. 40 --- -33% <$50K $51-99K $100K + ATTENTION TO FINANCIAL DETAILS CANADIANS AND DEBT Canadians report they pay close attention to Service fees charged to their credit cards More than 50% report they have between $0 and $5,000 in debt. 60% 54% Mean: $16,84938.39 Very Close Attention 18-34 43% 50% 50% 35-54 48% 55+ 60% Some Attention 35% - 23% 30% .11% 20% 7% 6% Not Much Attention - 12% 10% No Attention At All 4% 0% 0-85K |$5,001-$10K $10,001-$15K $15,001-$20K $20,001+ 64% THE MAJORITY REPORT THAT THEY TRY TO PAY OFF SAVE AND PAY IN FULL FOR AN THEIR DEBT AS QUICKLY AS POSSIBLE EXPENSIVE PURCHASE 59% Pay off debt quickly by paying more than the minimum at the end of each month Sources | Visioncritical.com 10% Makes minimum payment each month mint.com 5% Doesn't always pay the minimum each month 26% No debe 10% 20% 30% 40% 50% 60% WHO IS RESPONSIBLE FOR THE FINANCES? Don’t Know HOUSEHOLDS WITH BUDGET OR PLAN No Plan Rough or Informal Financial Plan Formal Plan e Somewhat Important 8 Extremely Important Not Very Important IMPORTANCE OF HAVING BUDGET Don't Know o