{"id":382794,"date":"2020-11-17T08:03:28","date_gmt":"2020-11-17T13:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382794"},"modified":"2020-11-17T08:03:28","modified_gmt":"2020-11-17T13:03:28","slug":"one-in-four-canadians-cant-afford-christmas-holiday-season-this-year","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/one-in-four-canadians-cant-afford-christmas-holiday-season-this-year\/","title":{"rendered":"One-in-four Canadians can\u2019t afford Christmas\/holiday season this year"},"content":{"rendered":"

\n21% will never renew their faith in the Canadian economy: Credit Canada Reality Check
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TORONTO, Nov. 17, 2020 (GLOBE NEWSWIRE) — The Grinch will make an appearance in Canada this holiday season according to a new national survey by the non-profit credit counselling agency, Credit Canada. The Reality Check Index<\/em>, an Angus Reid study of 1,500 Canadians, reveals that one-in-four Canadians (24%) from coast-to-coast will have to forego holiday celebrations in a year where people have already been hard hit by the pandemic.<\/p>\n

Additionally, one-in-five (21%) are not confident they will have a steady income over the next six months and 44 per cent are not confident they will be able to build savings over the next 12 months. In both scenarios, women are much less confident than men, with 22 per cent of women uncertain they\u2019ll have a steady income (versus 16% of men) and almost half (48%) not confident they will build savings (versus 40% of men).<\/p>\n

One-in-10 respondents are not confident they will be able to pay household bills, rent\/mortgage over the next six months. Meanwhile, 14 per cent are not confident they will be able to keep up with debt payments (credit cards, lines of credit, auto loans, etc.).<\/p>\n

\u201cWhile the holiday season is undoubtedly going to look different this year, it\u2019s not all doom and gloom, and in fact these numbers aren\u2019t that shocking given the trying times we\u2019re in,\u201d said Keith Emery, Co-CEO of Credit Canada. \u201cNevertheless, we hope that as the economy continues to recover, Canadians\u2019 confidence in their finances will also rebound.\u201d<\/p>\n

\n People are waiting until their <\/strong>
\n debt \u201cdisappears\u201d<\/strong>
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When asked, given these unprecedented economic times, what their expectations were, a shocking one-in-five people (21%) expect their personal debts to disappear or be forgiven. An additional one-in-10 (9%) said they would not go back to work and instead rely on government supports.
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Other findings from the Credit Canada <\/em>Reality Check Index<\/em> Study <\/em>were as follows:<\/p>\n