New survey spotlights a split money mood as costs squeeze households
Canadians entered 2026 with a divided outlook on money, with optimism and apprehension running nearly neck and neck, according to RBC’s latest Financial Flexibility Poll.
The survey of 1,500 adults, conducted in late September 2025, found that 49% felt resilient, optimistic, hopeful or unconcerned about their finances, while 47% felt exhausted, apprehensive, anxious or frustrated.
At the same time, 68% were confident they could meet day‑to‑day needs, but fewer than half (48%) believed they were on track to reach long‑term financial goals, underscoring a gap between current stability and future security.
Confident but cautious about the future
Among “confident” respondents, 51% said they were optimistic their finances could withstand economic uncertainty over the next year. Half said they were reducing or paying off debt, 44% said they were following a budget and 58% said they were investing in a TFSA and/or RRSP. Forty per cent said they would live frugally today to be financially secure later.
On the other hand, 49% of “struggling” Canadians agreed with the statement, “No matter what I do, I feel like I will never be financially successful.” Forty‑one per cent said they felt no longer in control of their financial future, while 34% said they have given up trying to plan for the next financial hit.
“Financial pressures and uncertainty of the past year have challenged Canadians to reassess their financial security,” said Erica Nielsen, group head, RBC Personal Banking.
“The impact hasn’t been the same for everyone, which is evident in the contrasts in how people are feeling about their finances today and their outlook for the future.”
Everyday costs crowd out long‑term goals
Everyday expenses remained the dominant barrier, with 79% citing rising day‑to‑day costs as their biggest obstacle to achieving financial goals, ahead of housing costs (66%), debt (51%) and their own financial habits (51%).
When asked about priorities for 2026, 64% said their top goal was “having enough money to enjoy retirement the way I want.” A further 53% pointed to having enough for leisure activities such as travel, and 52% cited building a cushion for unexpected expenses.
Similarly, a TD survey reported that nearly half of Canadians viewed inflation and the cost of living as their biggest financial challenge for 2025, even as confidence in the coming year ticked higher compared with 2024. There has also been record levels of financial stress among working Canadians and rising concern about mortgage renewals at higher rates.
Meanwhile, Prime Minister Mark Carney’s new affordability package places grocery and essential costs at the centre of Ottawa’s response to a cost‑of‑living squeeze that has already hit mortgage borrowers hard.
What it meant for mortgage professionals
For brokers and lenders, the poll points to a client base split between those trying to get ahead and those simply trying to hang on.
RBC found 61% of Canadians were more focused on managing day‑to‑day costs than on their financial future, a dynamic mirrored in mortgage polling that showed many borrowers tightening spending to manage renewal shocks and higher debt loads.
A national survey highlighted that many mortgage holders could only maintain their lifestyle for less than six months if their main income disappeared, with nearly half saying the current economic climate damaged their personal finances.
According to a TD survey, 67% of Canadians plan to cut back their spending this year, up from 51% a year earlier, and nearly six in 10 expected to trim monthly budgets by as much as $1,000.
“The start of a new year offers an opportunity to rethink and reset financial priorities,” Nielsen said. “This is where financial advice professionals can help you create or update your budget and financial plan and explore where you can find financial flexibility in the year ahead.”
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