Have you ever wondered how you’re doing financially compared to your neighbors or that brother-in-law?
Well, a new survey by RBC Royal Bank does a deep dive into the financial habits of Canadians and some of the bumps they hit on the road to wealth accumulation.
And, it turns out, Saskatchewan people exhibit the lowest level of ‘keeping up with the Joneses.’
The survey discovered that only 27-percent of Saskatchewan residents find themselves constantly comparing their finances with those of their neighbors.
That’s the lowest level in the land. And maybe one reason for that feeling is that we don’t actually know how we’re doing because we also registered the lowest rating when asked if we clearly understand our cashflow.
At the national level, the bank says a high percentage of people said they believe they have strong financial habits. Three out of four of us made that claim but when they dig a bit deeper they found a third of us ‘just wing it’ by turning a blind eye to financial planning and 20-percent simply ignore money problems when they pop up.
