Nearly 70 per cent of Canadians experiencing financial issues post-COVID outbreak: survey

By Mike Eppel

We are apparently feeling the financial stress of COVID-19.

If you’re feeling high financial stress levels and economic uncertainty, you’re not alone by a long shot.

A survey by Manulife Financial shows how COVID-19 is weighing on family finances, and the impact on employers and workers.

Financial stress at the highest metric has jumped from 11 per cent to 27 per cent of all respondents.

RELATED: Stress levels rising in Canadians due to financial insecurity related to COVID-19, survey says

While 44 per cent of Canadians experienced financial issues before the pandemic, that number has skyrocketed to 67 per cent after the outbreak.

Half of all Canadians have had to use emergency savings this year or have been piling up debt on credit cards.

One thing of note from the Manulife data, is that households are now more open to the idea of using a financial planner to help navigate the situation. They’re also looking for help from their employer.

Almost all of those in the survey said it’s important for companies to offer financial wellness programs.

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