A recent poll by CIBC finds that on average, Canadians expect to be debt free by the time they are 56 years old although some Canadians see themselves carrying debt well into their sixties. In addition, nearly a third (29 per cent) say they have no debt while 13 per cent say they will never […]
A recent poll by CIBC finds that half (50 per cent) of Canadians are unsure what they can hold in a Tax-Free Savings Account (TFSA). Despite their lack of knowledge, the majority (80 per cent) of Canadians have never talked to a financial advisor on how to make the most of their TFSA, with half […]
With the possibility that the Bank of Canada will cut interest rates tomorrow, a new poll by CIBC taken just days ago finds the vast majority of Canadians (93 per cent) are unlikely to increase their borrowing if rates drop. In fact, one-third of Canadians say they would use a rate cut as an opportunity […]
According to BMO’s Annual Debt Report released today, almost two-thirds of Canadians with debt (64 per cent) would be stressed in the event interest rates rose two percentage points, with one-quarter (25 per cent) saying they would be very stressed. Meanwhile, there is optimism among Canadians regarding the pace at which they can pay their […]
A recent CIBC poll finds that over half of Canadians (51 per cent) expect to leave assets upon their death, but when it comes to having conversations about transferring their wealth, many say they have not discussed it with their family or a financial advisor. Key findings of the poll include: 51 per cent of […]
Today is Canada Day and with Labour Day just two short months away, Canadians believe that some of their most expensive spending days of the year are ahead. A recent poll by CIBC finds that 40 per cent of Canadians say they spend more money in the summer than during any other season. As well, […]