" Many employed Canadians are spending their entire paycheques, or more, each pay period, leaving little room for emergency or retirement savings, a new survey says.

The latest Financial Wellbeing Index from LifeWorks reveals 27 per cent of working Canadians spend everything they make each time they get paid. Another 7 per cent say they spend more than they take in. And parents are twice as likely to report spending beyond their income.

That, of course, has an impact on people’s ability to save. Twenty-six per cent say they don’t think they could come up with $2,000 in an emergency, which adds to their financial stress and lowers wellbeing scores."

https://financialpost.com/executive/executive-summary/posthaste-one-in-three-canadians-say-theyre-blowing-through-their-entire-paycheque-each-pay-period?utm_medium=Social&utm_source=Facebook&fbclid=IwAR0YqjEWrQAGdA6oiQjUJ7-Qta0U-htlYK1-VddfxCxd6-gbvL50xVXGin0#Echobox=1633694559