Almost half of Canadians say inflation and the cost of living will continue to be the biggest financial challenge they face this year, according to a new survey from TD Bank.
The survey released Tuesday shows about half of the respondents plan on cutting down on spending with younger Canadians more likely to cut back on spending compared with boomers.
Inflation has fallen back to around the Bank of Canada’s two percent target, but the cost of living is still straining household budgets.
Among the priorities, the survey shows 56 percent of the respondents are focused on their day-to-day expenses, while 47 percent are planning to prioritize saving and investing for the future. It added 30 percent of Canadians are prioritizing paying down debt….