New Poll On Financial Goals Of Canadians In 2018

Posted on Friday, December 29, 2017 12:01 PM

With interest rates expected to rise in the coming year and household debt in Canada still climbing, a new CIBC poll finds paying down debt remains the top financial priority for Canadians in 2018, the eighth consecutive year it has led the list in the annual survey.

67 per cent of those surveyed admit they need to get a better handle on their finances in the new year. Only 16 per cent say they actually achieved their top financial goal in 2017 and moved on to another one.

26 per cent say they took on new debt this past year while one in five Canadians say growing wealth or saving for retirement will be their top focus for the year ahead, more so among men than women.

51 per cent of people surveyed regret not paying down more debt when interest rates were so low.