There’s a reason fortune tellers make a living…people are uncertain about their future and they want someone to tell them what lies ahead.
It’s not much different when it comes to personal finance. We don’t know what the future holds making it a source of anxiety. So the folks at RBC Royal Bank are trying to quantify the degree of unease Canadians are exhibiting.
And here’s what they found. Three-quarters of us said the number one financial concern is finding a balance between paying the daily bills while still saving. Two-thirds offered a similar finding saying they worry about cash flow.
When asked about good money management habits, half said they are not confident about their money decisions while 40-percent say they do a poor job of keeping track of expenses.
And then they asked about home ownership. Sixty percent said they worry about being able to cover all the costs associated with owning a home and roughly the same number said they would need a side hustle or second job to make home ownership possible.
