Another new survey is out showing how many British Columbians are struggling to make ends meet, and the toll that’s taking on them.
According to the National Payroll Institute, just under a quarter of British Columbians say they’re living paycheque to paycheque.
In Victoria, the NPI found 45 per cent of people are living that way.
“Only 17% of Vancouverites report this, possibly reflecting the city’s higher average incomes, though the cost of living still remains a concern,” the NPI shared.
About a third of people in the province say they’re overwhelmed by debt, with nearly three in five saying they’re concerned about housing costs.
“Thirty-four per cent of Vancouverites share this sentiment, pointing to growing concerns in the urban center over debt management,” NPI said. “Thirty-five per cent of Victorians feel similarly overwhelmed, showing that debt stress is widespread across the province.”
“Skyrocketing housing costs are so significant that 39% of British Columbians say that they have ‘seriously considered moving to more affordable cities.’ Forty-two per cent of residents in Vancouver agree, reflecting how Vancouver’s real estate prices are pushing people to rethink living in the city,” NPI added.
And about a third of people say financial stress leaves them feeling socially disconnected, meanwhile almost half of people surveyed say they experience anxiety or depression due to their financial situation.