Some scary stats you probably didn’t know- Top 10!

Some scary stats you probably didn’t know- Top 10!

When searching through and researching information to use on our website, blog, social media and podcast we come across many interesting statistics. We wanted to share some of them with you and we hope that if you are one of these statistics, be it good or bad, you take the time to consider why you are doing what you are doing and if a change should be made.

10. Only 25% of Canadians have an emergency/rainy day fund

9. The average car loan is now between 5 and 8 years

8. The average post secondary education leaves young Canadians with approx. $26,000 of debt

7. 77% of Canadians regret taking on school debt

6. Only 30.5% of Canadians contribute to their RRSP

5. 40.4% of Canadians properly use their TFSA accounts

4. 90% of Canadians have more debt today than they did 5 years ago

3. 70% of Canadians do not have an up to date will

2. The average Canadian family owes $20,759 in debt, not factoring in mortgage

1. Less than 47% of Canadians use a budget

We hope you enjoyed our list of Canadian money statistics and if there is anything that you need to help change your financial situation, or to help you not be another statistic, please contact us today and we will see how we can help.

Disclaimer: This article provides information only and is not intended to confer legal or financial advice or opinion. If you have any further questions please consult a lawyer or accountant. Please note as well that many of the statements herein are general principles which may vary on a case by case basis.