Canadians Struggle to Cover Basic Bills | Toronto News
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Canadians Struggle to Cover Basic Bills | Toronto News
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Canadians are drowning in financial pressure, with 61% already spending half their income on bills before payday—and 32% seeing most of their paycheck vanish before it even arrives. Nearly half live with just $200 or less to cover essentials, while 28% admit they earn less than they owe. The squeeze is forcing cuts across life’s joys: 37% say it’s stalling their financial progress, 57% are slashing travel and experiences, and over half are spending less on dining and socializing. A quarter have canceled plans entirely, some even turning to credit to maintain normalcy. Younger Canadians feel it hardest, as shrinking lifestyles erode not just wallets—but well-being.
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