Finances dominate the thoughts of Canadian, according to a new study from BMO Financial Group.
More than six in 10 (63 percent) Canadians say they spend more time thinking about finances than other aspects of their life, including:
- Planning leisure activities, such as their next vacation, shopping plans and deciding what movies and television shows to watch (18 percent); and
- Pondering the ups and downs of their love life (14 percent).
The report adds that, though Canadians are thinking about money, the percentage of individuals with a financial plan is down compared to last year (59 percent versus 64 percent in 2012).
“It’s understandable that money matters tend to dominate the minds of Canadians given that our finances are so intertwined with other areas, including family and how we spend our free time,” says Caroline Dabu, vice president and head of BMO Wealth Planning Group.