A year end survey by one of Canada’s chartered banks finds debt repayment is a priority for many Canadians. Between inflation, much higher interest rates and concern for their own financial security, Canadian Imperial Bank of Commerce says paying down debt tops its annual Financial Priorities poll.
55% of Canadians questioned said they believe they need to get a better handle on their financial situation this year. Vice-President of CIBC Financial and Investment Advice says it’s important for people to focus on what is in their sphere of control. 8 in 10 of those polled by CIBC said they haven’t discussed their financial goals with an advisor in the last year.
written by: R. Ross