- 44% of Canadians surveyed say they plan to cut discretionary spending.
- Among Canadians who said they don’t anticipate being able to pay all their bills and loans in full, 68% said it’s their credit card payments they won’t be able to make.
- While 46% of Canadians said they were targeted by fraud in the last three months, 37% reported taking no action in response to cybersecurity concerns.
- Over half (53%) of Gen X Canadians feel their financial situation is worse than planned, compared to only 30% of Gen Z.
TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — As Canadians continue to navigate economic uncertainty, many are adjusting their financial behaviours in response to affordability pressures and rising costs. According to TransUnion’s (NYSE:TRU) Q2 2025 Canada Consumer Pulse Study1, 51% of Canadians surveyed had a recession in their top three household financial concerns over the next six months, and nearly half of all surveyed (44%) plan to reduce discretionary spending in the next three months. Canadians are also shifting to thriftier shopping options – 63% said they look for sales and discounts more frequently, 40% shop more frequently at more affordable retailers, and 31% use more coupons. These changes come at a time when over a quarter (27%) of Canadians say they won’t be able to pay all their current bills and loans in full and millions of Canadians’ mortgage payments face potential repayment increases.
Among Canadians who said they won’t be able to pay of their bills, 68% reported they won’t be able to pay off their total credit card payments. This could be due to these consumers prioritizing other credit payments, like mortgages. Despite the overall inflation rate returning to the Bank of Canada’s target, 96% of Canadians remain concerned about the current rate of inflation and the vast majority (83%) of all surveyed Canadian consumers had inflation in their top three household financial concerns over the next six months.
“Canadians are navigating a challenging financial landscape, with many adjusting their spending and prioritizing bill payments in response to rising costs and economic uncertainty,” said Matt Fabian, director of financial services research and consulting at TransUnion Canada. “Our latest Consumer Pulse data shows that affordability concerns are top of mind, and many are taking proactive steps to stay financially …