Fewer Canadians Live Between Pay
Sunday, September 9, 2012 10:00 PMby
Ontarians still rely on next paycheck more than other Canadians
Although a new study shows fewer Canadians are living paycheck-to-paycheck, the survey shows that Ontarians rely more on each paycheck than most other Canadians.
The Canadian Payroll Association says 52 per cent of Ontario workers live from payday-to-payday.
47 per cent of Canadians surveyed said they would be in financial woes in their paycheck was delayed by just a week.
CPA Vice President Steven Van Alstine tells Bayshore Broadcasting News that Ontario workers living week by week is considerably higher than many Eastern provinces.
Van Alstine adds that the prairie provinces typically have higher rates of workers live check-to-check.
The survey also shows that more Canadians will be delaying retirement in order to save money.
Van Alstine believes this will help ease the burden that baby boomers have on their children's generation.
When asked why they are delaying retirement, most people say they are not saving enough for retirement.
Van Alstine tells Bayshore Broadcasting News that Quebec is the province with the lowest number of workers living paycheck-to-paycheck.