Interview with Temur Durrani (Winnipeg Free Press) on FP Canada's Tale of Two Pandemics survery

When it comes to the state of personal or household finances during COVID-19, economists liken it to “a tale of two pandemics.”

While some Canadians have been able to save more money than ever before, a large group of people across the country are finding it increasingly difficult to stay on top of their living expenses.

More than one-third of Canadians say their household expenses have increased in the last year and nearly a quarter say they’ve been unable to save any income, according to a new report by FP Canada, shared exclusively with the Free Press ahead of a wide release this week.

The new data also suggest nearly two in five Canadians have experienced a job loss, a pay cut or a reduction in work hours over the past year.

But the findings show a clear difference in the pandemic’s impact on Eastern and Western Canada, with a figurative line drawn along the Manitoba-Ontario border.

“If there’s one thing we can consistently see across the country, it’s that money matters have and will likely continue to be the most lasting struggle out of this crisis,” Certified Financial Planner Caval Olson-Lepage said Tuesday.

Read full article: Canadians face cash crunch: report | Yorkton This Week