Groceries Are The Biggest Financial Stressors For Canadians In 2022: Report | Dished – Daily Hive

As the price of dwelling rises, Canadians are feeling the stress of their financial institution accounts, even for one thing as crucial as getting meals on the desk.

In accordance with a report launched on Wednesday, groceries are placing probably the most monetary pressure on Canadians.

Digital life insurance coverage supplier PolicyMe performed a survey that requested Canadians to rank their monetary priorities, stressors and bills they anticipate to see improve in 2022.

Groceries topped the listing of economic stressors at 59%, adopted by fuel and transportation (40%), bank card debt funds (28%), lease (24%) and mortgage rates of interest (15%).

With 77% of responses, groceries additionally topped the listing of bills Canadians anticipate to extend.

PolicyME This comes a month after Canada’s Food Price Report predicted {that a} household of 4 can pay an additional $966 for meals a 12 months, for a complete annual grocery invoice of $14,767. Nevertheless, PolicyMe additionally discovered that regardless of this dismal outlook, Canadians are nonetheless feeling constructive about their funds. “Whereas issues round inflation, rising rates of interest, and housing affordability are inflicting stress for a lot of households, Canadians have a constructive outlook for 2022: they really feel answerable for their funds, they're saving a excessive proportion of their revenue, and so they have a robust sense of economic resilience,” mentioned PolicyMe CEO Andrew Ostro in a information launch.

The survey discovered that 67% of Canadians nonetheless really feel answerable for their funds and that 45% of individuals throughout the nation are making common contributions to their financial savings.

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