Tootfinder

Good Morning #Canada
The month of December will typical put a dent in your paycheck, or January if you're using your credit cards, so it's tough to save any money. Canadians rank 21st worldwide with regards to how much of our salary we put into a savings account. According to World Population Review, we put away approximately 7% of our paycheck for a #RainyDay, far behind South Korea at 35%. I'm retired and therefore not a saver at this point, but even during my most successful earnings period I can't imagine I would have been able to put away a third of my salary.
I suspect the savings percentage is driven by a small group of high wage earners as individual Canadian debt has increased. According to Equifax, total consumer debt in Canada reached $2.56 trillion at the end of 2024, a 4.6 per cent increase over 2023.
#CanadaIsAwesome
https://www.equifax.ca/business/blog/all-news/-/story/stable-versus-struggling-canada-s-financial-divide-widens/