Canadians want to get more financially fit

“At this time of year, many people are certainly suffering from a case of the credit card blues,” says Tim Ashby, vice-president, personal solutions, at Equifax Canada.

Others mentioned that they plan to invest in RRSPs, tax-free savings accounts or registered education savings plans (24%), while others plan to spend more on their needs instead of their wants (23%).

Despite growing concern that Canadians are taking on too much household debt, an equal proportion of survey respondents said they consider themselves to be financially fit and follow a monthly household budget (62% each).

Men are more likely to consider themselves to be financially fit (66% versus 58% of women), while women are more likely to say they follow a monthly household budget (67% versus 57% of men). Canadians 55 and older are the most likely to consider themselves to be financially fit (78%).

Related articles:

• Canadians plan to save more
• Younger generations say they’re worse off financially
• Canadians plan to cut debt in 2014