Even though interest rates and inflation are finally easing a bit, many Canadian families are still under real pressure. A recent national survey found that nearly half of Canadians have had to dip into their savings just to cover basic day-to-day expenses — and for many, that’s putting long-term financial goals on hold.
Higher mortgage payments are hitting hard, especially for those renewing after the low rates of the pandemic. More than 30% of people say their new mortgage costs are hurting their finances or delaying goals like paying off debt or saving for the future. For Millennials, that number jumps even higher.
On top of that, job uncertainty and rising tariffs are making it harder for families to budget for essentials like food and gas — with young Canadians feeling it the most.
What’s most concerning? Families are putting off important financial steps like paying down debt, saving, or getting their wills and power-of-attorney documents in place. And that leaves them more vulnerable when life throws a curveball.
Here’s the good news: You can take steps to regain control. Whether it’s exploring a mortgage refinance to lower your monthly payments, consolidating debt, or creating a financial plan that gives you breathing room — I’m here to help you find options that make sense for your family.
Let’s build toward peace of mind, not just survival.
Read full article here: https://www.canadianmortgagetrends.com/2025/10/half-of-canadians-admit-to-tapping-savings-to-cope-with-higher-costs-survey-finds/?_cldee=ZpaGxIZz18xE9JMe8hUaX6uyF8ZM34b9KhnSJ9IcebDE4nrMYY1BjIBs5lS7kdQO&recipientid=contact-8dee86a35a69f011bec2002248b1b527-e527fa9574b84f498567ea04cadc51a6&esid=ce2af810-b6b8-f011-bbd3-7ced8d658a2d