Nearly One in Three (29%) Canadians Are Distracted at Work Due Issues Related to Financial Health

Toronto, ON - Nearly one in three (29%) Canadians agree (8% significantly/21% somewhat) that over the past 12 months, they have been distracted while at work due to having issues related to their financial health, according to a new Ipsos poll conducted on behalf of Sun Life Financial. Conversely, seven in ten (71%) Canadians disagree that they have become distracted while at work as a result of having financial health issues.

According to the results of the study, the high level of stress Canadians are feeling appear to be driven by their current financial struggles. When asked what factors cause an uncomfortable level of stress, the top three of four responses were all associated with financial challenges, with the third relating to health concerns. Nearly half (45%) of Canadians say personal or household finances causes them to experience an uncomfortable level of stress. Meanwhile, one in three (32%) say it is trying to maintain a budget, and a further three in ten (31%) say it is those unexpected expenses that cause them such grief.

Many Canadians are also lacking confidence when it comes to their personal financial situations, with three in ten (30%) admitting to feeling insecure (12% very/18% somewhat) about their current state of financial health. Moreover, one in four (24%) feel neither secure nor insecure, leaving only 46% of Canadians saying they feel secure about their current situation, with only 10% saying they are "very secure."

Trying to tackle financial struggles can be a difficult task. Reflecting on the barriers to improving financial health, nearly half (48%) of Canadians say their current income is what is making it hard for them to save and plan ahead. One in four (25%) say it is the barrier of their current debt situation from factors such as mortgages and credit cards that further their unhealthy financial situation. Meanwhile, 24% say it is their current employment situation (e.g. contract work, temp work, etc.) that prevents them from improving their financial health.

These are some of the findings of an Ipsos poll conducted between September 19 and September 30, 2016, on behalf of Sun Life Financial. For this survey, a sample of 2,402 Canadians from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/ - 2.0 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Sean Simpson
Vice President
(416) 324-2002
Ipsos Public Affairs
[email protected]

About Ipsos

Ipsos ranks third in the global research industry. With a strong presence in 87 countries, Ipsos employs more than 16,000 people and has the ability to conduct research programs in more than 100 countries. Founded in France in 1975, Ipsos is controlled and managed by research professionals. They have built a solid Group around a multi-specialist positioning-- Media and advertising research; Marketing research; Client and employee relationship management; Opinion & social research; Mobile, Online, Offline data collection and delivery. Ipsos has been listed on the Paris Stock Exchange since 1999. www.ipsos.com