Most young Canadians weren’t prepared for the impacts of high inflation: RBC poll – National

Canadians aged 18 to 34 are less confident about their financial future than they were a year ago, according to a new RBC poll.

18% of Canadians in this age group say they are confident about their financial future, down from 31% the year before.

A poll in October found that more than half (52%) said they were unprepared for the impact of inflation.

More than three-quarters say they are concerned about cash flow.

Inflation stood at 5.9% in January, down from a mid-2022 high, but costs such as rising food prices and higher interest rates are weighing heavily on Canadian wallets.

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Young adults in Canada are paying more attention than ever to their finances, including their daily expenses, debts and investments, according to a poll.

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One in four Canadians can’t afford a $500 unexpected expense due to inflation: report

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