Financial Confidence Dwindles Among Canadians Despite Majority Feeling Household Finances are as Planned or Better so far in 2022
TORONTO, July 06, 2022 (GLOBE NEWSWIRE) -- TransUnion’s most recent Consumer Pulse study* shows that while the majority (59%) of Canadians feel positive about their current personal finances, only 40% are feeling optimistic about their household finances over the next 12 months. Record-high inflation combined with climbing interest rates is fueling a sense of dwindling financial confidence, which could lead to a continued drop in consumer confidence if affordability becomes a growing issue.
- TORONTO, July 06, 2022 (GLOBE NEWSWIRE) -- TransUnions most recent Consumer Pulse study* shows that while the majority (59%) of Canadians feel positive about their current personal finances, only 40% are feeling optimistic about their household finances over the next 12 months.
- Despite being bullish about their current household finances, Canadians are feeling less confident about their financial outlook and ability to keep up with their bills.
- Canadians feel positive about their current financial situation and future income but are increasingly concerned about their future financial outlook: The latest Consumer Pulse survey showed 59% of Canadians felt like their finances were the same or better than planned so far in 2022.
- Canadians brace for shifts in household spending: As Canadians look ahead to the next three months, many are anticipating increases in their bills and loans and other household spending, including: