Did you know 47% of Canadians reside paycheque to paycheque? Fundamentally 50 % of us are one payday far from some pretty straits that are dire. Missed car re payments, a clear refrigerator, or a charge card bill which could bring some people to the knees. Those will be the facts for an predicted seventeen million, six hundred and seventy-three thousand Canadians. I hadn’t grasped the size, depth and, frankly, the nightmare of this problem until I began researching for this piece. Certain, we’d heard stats from the news like, вЂњthe typical Canadian spends roughly $1.77 for every buck earned,вЂќ but had hardly ever really considered that for all, lots of people, the need to borrow funds is merely a real possibility. And a pretty one that is frequent.
While we at KOHO had been developing the Early that is new Payroll, we surveyed just shy of 500 Canadians and discovered that 86% were brief on money for everyday costs. Obviously, this made me interested in learning just exactly what Canadians are utilizing to shut the space between costs and their next paycheque. Continue reading →