While there are a number of promising signs for the economy there are still many people living paycheck to paycheck.
According to the Canadian Payroll Association’s ninth annual survey 47 per cent of working Canadians, and the same percentage of Albertans, say it would be difficult to meet their financial obligations if their pay cheque was delayed by even a week.
Canada-wide, the numbers are even higher for those in their 30s and 40s.
The survey also shows that 41 per cent of employees, in Alberta and nationally spend all of or more than their net pay.
Forty-two per cent of survey respondents, or 39 per cent in Alberta, said they save 5 per cent or less of their earnings, below the 10 per cent recommended by financial planning experts.
A fifth of working Canadians say they could not come up with just $2,000 within a month for an emergency expense.
Nineteen per cent of Albertans would struggle to come up with the same amount.
Debt levels of working Canadians continue to remain high as well according to the report.
Over one-third, 35 per cent of working Canadians feel overwhelmed by their level of debt. In Alberta, the number is 40%.
The Association recommends you pay yourself first by saving 10 per cent of your net pay.
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