Did you know 47% of Canadians reside paycheque to paycheque? Essentially 50 % of us are one payday far from some pretty dire straits. Missed car re payments, a clear refrigerator, or credit cards bill that may bring some people to your knees. Those will be the facts for an predicted seventeen million, six hundred and seventy-three thousand Canadians. I hadn’t grasped the size, depth and, frankly, the nightmare of this problem until I began researching for this piece. Certain, we’d heard stats from the news like, вЂњthe typical Canadian spends roughly $1.77 for almost any buck made,вЂќ but had hardly ever really considered that for all, lots of people, having to borrow cash is simply a real possibility. And a pretty one that is frequent.
While all of us at KOHO had been developing the new Early Payroll function, we surveyed just shy of 500 Canadians and found that 86% had been quick on money for everyday costs. Obviously, this made me interested in learning exactly what Canadians are utilizing to shut the space between costs and their next paycheque. […]