Poll: 80% of Canadians Say Cost of Living Outpaces Their Income
A recent survey commissioned by H&R Block paints a stark picture of Canada's ongoing affordability crisis, revealing that nearly 80% of Canadians believe their cost of living exceeds their income. The poll, conducted by Angus Reid, highlights widespread financial strain across the country, with Atlantic Canada residents expressing the highest levels of concern.
Financial Struggles Despite Decent Salaries
According to the survey, 58% of working Canadians report struggling to meet everyday expenses such as groceries and gas, even though they earn what they consider to be a good salary. This disconnect between perceived income adequacy and actual financial stability underscores the deepening affordability challenges facing many households.
Nearly half of respondents (46%) say they have nothing left to save after covering essential costs, while 72% plan to curtail their spending this year. Among the minority who do manage to save, 77% intend to put less money into their savings in 2026, compared to only 14% who plan to increase spending.
Regional Variations in Financial Perceptions
The survey reveals significant regional differences in how Canadians view their financial situations:
- Atlantic Canada: 67% report trouble making ends meet
- Alberta: 66% express financial concerns
- Saskatchewan/Manitoba: 64% struggle with affordability
- Ontario: 59% face financial difficulties
- British Columbia: 53% report challenges
- Quebec: 51% experience financial strain
While 53% of working Canadians feel positive about their financial situation, 46% do not share this assessment, indicating a substantial divide in economic perceptions across the country.
Savings and Credit Dependence
The survey found that 55% of those polled manage to put aside money each month, while 41% are unable to save at all. Thirty-five percent of respondents report having to resort to credit cards, bridge loans, or overdraft protection to survive until their next paycheck, highlighting the precarious financial position of many Canadians.
Looking ahead, 54% of Canadians worry that 2026 will be a challenging year financially, reflecting ongoing concerns about economic stability and personal finances.
Survey Methodology and Context
The Angus Reid survey was conducted between February 19 and 23, 2026, among 1,545 Canadian members of the Angus Reid Forum. While margins of error cannot be applied to online panels, an equivalent sample size would yield a margin of error of plus or minus 2.53 percentage points, 19 times out of 20.
These findings come amid broader discussions about Canada's affordability crisis, with previous surveys indicating that financial stress affects personal relationships and life decisions for many Canadians.
