Description: A survey from the National Payroll Institute finds financial stress is rising among Canadian workers. Thirty-seven percent of those surveyed reported financial stress, with over sixty percent of that group indicating they need to spend their full net pay just to keep even. Meanwhile, thirty percent of those undergoing stress are drawing down savings or taking on additional debt to try and get by from paycheque to paycheque.
Date: October 3, 2023
1) Are you and your classmates feeling the pinch from rising prices?
2) Would you consider a career as a financial advisor who would help Canadians manage their personal finances?
3) Illustration 7.11 in Wiley’s Financial Accounting: Tools for Business Decision-Making shows us six principles of cash management. Which of these can a family use to help them reduce their financial stress?