2019 Financial Confidence Index

Second edition of the IG Financial Confidence Index shows that Canadians feel slightly less confident in 2019.

The author(s)

  • Sébastien Dallaire Senior Vice President, Canada, Client Org
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Toronto, ON, November 18, 2019 – Consumer confidence is one of the key drivers of our economy. Therefore, it’s crucial to ask ourselves, how financially confident are Canadians? In the second edition of the Ipsos poll conducted on behalf of IG Wealth Management, Canadians, despite recording positive confidence levels, feel less confident compared to last year, with the index decreasing three points (from 59 to 56).

Differences in behaviours and attitudes can be found across various segments of the population. Both Newcomers (people who have been in Canada less than 3 years) and Seniors (Canadians aged 65+) recorded higher Index scores than the national average (64 and 66, respectively). Seniors tend to review their finances on a regular basis and to feel satisfied with their financial decisions, while Newcomers, when compared to the average, have more confidence than the average about the future and have lower anxiety about their finances.

An interesting aspect of this year’s results is that Canadians’ confidence is unchanged in areas such as the global and national economy and the stock market. The research also confirms that almost half of Canadians (46%) agree with the statement “I am securing my financial future”. However, nearly half (48%) feel anxious when thinking about their personal finances and 54% are concerned the money they have or will save will not last.

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

About this study

Research Methodology — The results presented in this summary report are from an Ipsos survey conducted from September 23 to September 30, 2019. A total sample of 2,600 respondents from across Canada participated in the survey. All surveys were conducted online, through Ipsos’ iSay panel of respondents. 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.

Since an online survey is not considered to be probabilistic, Ipsos cannot apply a margin of error to this survey. The precision of non-probabilistic Ipsos surveys is measured using a credibility interval. The credibility interval for a survey of 2,600 respondents is ±2.3 percentage points, 19 times out of 20. The credibility interval will be wider among subsets of the population.

For any additional information regarding this study, please contact:

Sébastien Dallaire
General Manager, Ipsos Québec
+1 514 904-4324
sebastien.dallaire@ipsos.com
@sdallaire73

About Ipsos

Ipsos is now the third largest market research company in the world, present in 90 markets and employing more than 18,000 people.

Our research professionals, analysts and scientists have built unique multi-specialist capabilities that provide powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data coming from our surveys, social media monitoring, and qualitative or observational techniques.

“Game Changers” – our tagline – summarizes our ambition to help our 5,000 clients to navigate more easily our deeply changing world.

Founded in France in 1975, Ipsos is listed on the Euronext Paris since July 1st, 1999. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD).

ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP

www.ipsos.com

The author(s)

  • Sébastien Dallaire Senior Vice President, Canada, Client Org

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