One-third of Canadian households living paycheque to paycheque

One-third  of Canadians still live from pay-cheque to pay-cheque, according to Globe and Mail. We can empathize as many have gone through such periods, but do we have to continue this way. Skating on thin ice and peace of mind becomes an elusive goal.

A new survey suggests fewer Canadians are living from paycheque to paycheque, and more are putting money aside for a rainy day or retirement.

But there are still a large number that would face difficulties after one week of not receiving their cheques, and savings rates remain low, the results show.

The survey by the Canadian Payroll Association found 47 per cent saying they would be in financial dire straits if their pay was delayed as little as a week.

Living from Pay-Check to Pay-Check

What happens when the unforeseen happens? Continue reading →