A recent survey shows a growing number of Canadians are pessimistic about their future finances and ability to provide basic needs.
The survey by The Salvation Army found with the COVID-19 pandemic, economic instability and the rising cost of living, around 33 per cent of respondents, said they were worried about the future of personal finances.
That’s a rise of 10 per cent over last year’s study
On top of this, more than half of Canadians polled, or 52 per cent, said they experienced food security challenges over the past year.
Fifty-nine per cent of those attending food banks in 2022 were first-time users.
“We're seeing more and more families asking for our assistance for the first time," said Lt-Colonel John Murray, Salvation Army Canada territorial secretary for communications, in a news release.
"With the threat of a recession, we anticipate this number will continue to grow. Now more than ever before, we are here for people who need us."
Focusing on the future, 47 per cent of respondents said they expect to deal with food security challenges, 10 per cent anticipate difficulties with housing security, while 33 per cent said they expect challenges due to limited financial resources.
"The number of Canadians facing significant hardship is growing, and those impacted are no longer the most vulnerable in society – they could be a friend, neighbour, or family member," said Murray.
"We ask that as Canadians go about their holiday spending this year, that they please consider setting some money aside for a charitable cause."
