A new national survey commissioned by Harris & Partners suggests rising living costs and economic uncertainty are continuing to place financial pressure on Canadians, with many households adjusting spending and savings habits in response.
The survey, conducted in May 2026 among 2,664 Canadians aged 18 and older, found that 95.2 per cent of respondents said rising costs such as food, housing and utilities have recently affected their finances.
According to the survey, 94.2 per cent said economic factors including inflation and interest rates are affecting their financial plans, while 93.6 per cent reported that rising day-to-day costs are putting pressure on their finances.
The findings also showed 91.6 per cent of respondents have changed the way they manage money over the past six months because of changing economic conditions.
The survey points to shifts in consumer behaviour as Canadians respond to higher living expenses.
Among respondents, 49 per cent said they have reduced spending, 22.4 per cent said they have delayed purchases, and 15.2 per cent reported using savings to manage expenses. Another 10 per cent said they are relying on credit more frequently.
“These findings paint a very clear picture, financial pressure is no longer temporary for many Canadians,” said Joshua Harris, CEO of Harris & Partners.
“People are adjusting their lives in real time because the cost of everyday living continues to rise faster than many incomes can keep up.”
The survey also found growing concern among Canadians about financial stability and vulnerability to economic changes.
According to the results, 91 per cent of respondents said their financial situation can change quickly because of factors outside their control, while 85.4 per cent said financial changes are affecting them more now than they were 12 months ago.
Harris said the findings suggest financial insecurity is affecting a broad range of households.
“Canadians are feeling less financially secure than they did a year ago,” Harris said.
“Even individuals who were previously comfortable are now rethinking spending habits, postponing purchases, and worrying about how quickly circumstances can change.”
The survey identified essential expenses including groceries, housing, utilities and transportation as major sources of financial stress.
While many Canadians are reducing discretionary spending, Harris said increased reliance on savings and credit could create longer-term financial challenges.
“We’re seeing more people forced to make difficult choices simply to stay on top of monthly expenses,” Harris said.
“When households begin relying on savings or credit to manage basic costs, it can quickly lead to long-term financial strain.”
Harris & Partners said the survey results highlight the need for accessible financial support, financial education and earlier intervention for Canadians facing financial difficulty.
“There’s a strong need for open conversations around financial stress and debt,” Harris added.
“Many people wait until things become overwhelming before seeking help, but there are options available much earlier than most realize.”
The company said it is encouraging Canadians experiencing financial strain to seek professional advice before debt levels become unmanageable.
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