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TORONTO — CIBC says paying down debt is the highest monetary precedence for Canadians heading into 2025.
In its annual Financial Priorities poll, CIBC discovered Canadians proceed to see rising prices for family items and excessive rates of interest as their largest monetary considerations.
Keeping up with invoice funds is the second largest precedence for respondents.
CIBC says nearly two-thirds of Canadians are nervous about the potential for a recession, nonetheless greater than half of ballot respondents really feel they’re ready to climate an surprising monetary hardship.
CIBC says 28 per cent of respondents took on extra debt up to now 12 months, with the highest causes being the price of dwelling, day by day bills outstripping earnings and monetary emergencies.
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The findings are from a web-based Ipsos ballot performed for CIBC between Nov. 27 and Dec. 2 utilizing a pattern of 1,500 Canadians from an current Ipsos panel.
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