One-third of Canadians expect to reduce their spending in 2025, according to a new BMO survey.

The poll conducted by Ipsos reveals that 33 per cent plan to minimize spending and nearly half (46 per cent) of Canadians say the higher cost of living will affect their financial new year’s resolutions.

Concerns about the cost of living (54 per cent), inflation (50 per cent), and a possible economic recession (42 per cent) are among the leading causes of financial anxiety. Others include concerns about overall financial situations, fear of unknown expenses, housing costs, family related expenses and keeping up with monthly bills, according to the BMO Real Financial Progress Index report.

Concerns about the cost of living, inflation, and a possible economic recession are among the leading causes of financial anxiety.{ai:summary}<p>A BMO survey indicates that one-third of Canadians intend to cut back on spending in 2025, with 46% citing the high cost of living as a factor affecting their financial resolutions. Major concerns include inflation, potential recession, and various personal financial pressures.</p><p>These findings highlight significant financial anxiety among Canadians, driven by worries over living costs, housing, and monthly expenses. #economy</p>

One-third of Canadians expect to reduce spending in 2025, 54% worried about cost of living: poll

Loading...