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.
Young adults in Canada are paying more attention than ever to their finances, including their daily expenses, debts and investments, according to a poll.
One in four Canadians can’t afford a $500 unexpected expense due to inflation: report