According to a recent poll 24 percent of Canadians are still living pay-cheque to pay-cheque.
Manager of Partnerships and Business with Integris Credit Union, Dan Wingham says several steps can be taken to better manage your finances.
“Putting money away for retirement, obviously keeping the bills up to date by making sure debts are serviced and high interest nets are eliminated through debt consolidation with your financial institution.”
Despite a tough economic outlook Canadians seems to be saving more for emergencies than last year.
British Columbians saved the most at 70 thousand while the Maritimes saved the least at 20 thousand.
Wingham says he is quite shocked by the numbers.
“That 70 thousand dollar figure for BC residents is incredibly high, I might put the figure closer to 10 thousand without having anything in front of me to solve it.”
“But 70 thousand dollars to me is considerable and is a shock to me”
Canadians have an average of 42 thousand dollars in emergency savings.