Most Canadians understand credit yet stall on improving it: survey
According to the survey, 62 percent of Canadians feel the credit system is designed for people who are already financially stable, a view that rises to 71 percent among Gen Z and 70 percent among millennials.
Barriers to improvement also skew younger and lower-income: the share reporting at least one barrier reaches 66 percent among households earning under $50,000 and 68 percent among Gen Z.
Credit worries are shaping major decisions.
Money Mart reported that 22 percent of Canadians have delayed or abandoned buying a home over concerns their credit would not qualify, 18 percent have delayed financing a vehicle, 14 percent have put off starting a business, and 12 percent have delayed renting an apartment.
Only 12 percent describe their finances as thriving, while 17 percent say they are struggling or in survival mode, as per the release.
