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Young Canadians are starting to feel more optimistic about their financial futures.

Nov 12 2021

Young Canadians are starting to feel more optimistic about their financial futures. According to a survey by the Canadian Bankers Association, more than half of young Canadians ages 18-25-years-old say that the pandemic upended their financial security. Now, almost all of them (98%) are actively making plans to strengthen their financial resilience, and 88% are feeling optimistic about their financial futures. Saving money has been top of mind for this age group, with 77% saying they put at least 1% of their income aside as savings to build an emergency fund and work towards becoming more financially independent. Meanwhile, budgeting is also a priority for 18-25-year-olds in Canada, but the majority say it’s difficult sticking with a budget due to not making enough income and incurring unexpected costs. YPulse’s recent personal finance research found that the majority of Gen Z and Millennials in Canada have positive feelings when they think about money, and they’re turning to their parents for financial advice. (Yahoo! Finance)