Turning the page on a calendar year is one of those milestones that seems to trigger a willingness to formulate or renew goals. That can be in the form of a budget and strategic plan in the case of a business or New Year’s resolutions on the personal front.
And, it seems, there are a few items that are perennial staples of this list. On the personal front, this is generally expressed as targets around weight loss or exercise on the health front and debt retirement on the financial side of the story.
The arrival of 2022 is a good case in point on the latter item.
CIBC has just released its year-end survey where it asked 1,500 Canadians to outline their priorities for the coming year.
Debt retirement once again topped the list with one-in-five saying this was their primary financial goal but it is overshadowed by fears of inflation, something two-thirds of the respondents fingered as their greatest financial worry. Ranking second was building their investment portfolio and a rainy day fund. COVID has fallen back with only one-in-three citing it as a concern.
