2024 IG Financial Confidence Index: Canadians Settling into Stability But Remain Concerned About the Future

Toronto, ON, November 21, 2024 — Ipsos is proud to present the key findings from the sixth annual edition of the IG Wealth Management Financial Confidence Index (“the Index”). The results show Canadians’ financial confidence stabilizing at 50 this year, mirroring the 2023 score. While this indicates a return to stability after pandemic-related fluctuations, concerns remain about the economic outlook for 2025.

The Index, commissioned by IG Wealth Management (“IG”) and conducted in partnership with Ipsos Canada, tracks and reports on Canadians’ overall financial confidence based on 10 survey questions relating to IG’s Four Pillars of Financial Confidence (“the Pillars”): Personal Financial Outlook, Planning and Literacy, Trust in the Economy and Current Financial Situation. 

This year’s Index demonstrates a plateau in confidence following a decline from the 2021 high of 57.  Canadians’ trust in the economy remains a weak point, although recessionary fears have lessened compared to the previous year. 
 

Future uncertainties and regional disparities influence financial confidence. 
 

While current personal financial situations are generally stable, anxieties persist regarding job security, the political climate, and global issues.  Regionally, some provinces exhibit higher financial confidence than others. British Columbia leads with a score of 55, while Quebec's confidence has declined (down 4 pts to 49).

To see detailed results for this study, please consult the report by clicking the link included at the bottom of the page. 

About the Study

The 2024 results presented in this summary report are from an Ipsos survey conducted online from September 20th to October 1st, 2024. A total sample of 2,001 respondents from across Canada participated in the survey. Weighting was applied to the total sample by age, gender, region and education level to ensure that the composition of the final sample is representative of Canada's adult population according to the latest census data from Statistics Canada. This survey has a credibility interval of +/- 2.5% 19 times out of 20, of what the results would have been had all Canadian adults 18+ been surveyed. The credibility interval will be wider among subsets of the population.

For more information on this news release, please contact:

Derek Brasier
Vice President, Ipsos Public Affairs
[email protected] 

About Ipsos

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