{"id":39454,"date":"2023-01-03T02:24:19","date_gmt":"2023-01-03T02:24:19","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/repaying-debt-is-canadians-1-financial-priority-as-inflation-rising-interest-rates-and-recessionary-fears-top-list-of-economic-worries-for-2023-cibc-poll\/"},"modified":"2023-01-03T02:24:19","modified_gmt":"2023-01-03T02:24:19","slug":"repaying-debt-is-canadians-1-financial-priority-as-inflation-rising-interest-rates-and-recessionary-fears-top-list-of-economic-worries-for-2023-cibc-poll","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/repaying-debt-is-canadians-1-financial-priority-as-inflation-rising-interest-rates-and-recessionary-fears-top-list-of-economic-worries-for-2023-cibc-poll\/","title":{"rendered":"Repaying debt is Canadians&#8217; #1 financial priority as inflation, rising interest rates, and recessionary fears top list of economic worries for 2023: CIBC Poll"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">TORONTO<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 28, 2022<\/span><\/span> \/CNW\/ &#8211; CIBC&#8217;s annual Financial Priorities poll finds that repaying debt is the number one goal for Canadians in 2023 (18 per cent), while inflation (65 per cent), rising interest rates (30 per cent), and recessionary fears (24 per cent) top the list of financial concerns.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 118px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:30%;\"><a class=\"link\" href=\"https:\/\/mma.prnewswire.com\/media\/1973967\/CIBC_Repaying%C2%A0debt_is_Canadians___1_financial_priority_as_inflat.html\" rel=\"nofollow\" data-ylk=\"\"><img class=\"caas-img caas-lazy\" alt=\"CIBC Logo (CNW Group\/CIBC)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/xADCU5uDWiiyoC_hh68miw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwOA--\/https:\/\/media.zenfs.com\/en\/cnwgroup.com\/693b22adeeb61d8151cc0ae9485285aa\"\/><noscript><img alt=\"CIBC Logo (CNW Group\/CIBC)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/xADCU5uDWiiyoC_hh68miw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwOA--\/https:\/\/media.zenfs.com\/en\/cnwgroup.com\/693b22adeeb61d8151cc0ae9485285aa\" class=\"caas-img\"\/><\/noscript><\/a><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">CIBC Logo (CNW Group\/CIBC)<\/figcaption><\/p>\n<\/figure>\n<p>The poll also finds that overall sentiment towards finances has weakened in the last year with 55 per cent of Canadians indicating they need to get a better handle on their financial situation this year and one in four people saying they have taken on more debt in the last 12 months.<\/p>\n<p>&#8220;The current economic environment has, understandably, prompted Canadians to re-assess their financial priorities for 2023,&#8221; said <span class=\"xn-person\">Carissa Lucreziano<\/span>, Vice-President, CIBC Financial and Investment Advice. &#8220;When things feel uncertain, it&#8217;s important for people to focus on what is in their sphere of control. A financial professional can help Canadians plan for the unexpected and feel confident when faced with challenges in the year ahead.&#8221;<\/p>\n<p>While the majority (73 per cent) of Canadians are worried about the possibility of a recession next year, most (62 per cent) feel financially prepared for the unexpected and 59 per cent believe their financial situation is secure enough to withstand a recession.<\/p>\n<p>&#8220;Whether you&#8217;re on track to meet your financial goals in 2023 or you&#8217;re worried about what the future may hold, we recommend seeking the guidance of a financial expert who can help implement a plan to help you achieve your ambitions this year,&#8221; added Lucreziano.<\/p>\n<p><b>Additional findings from the 2022 December Financial Priorities poll:<\/b><\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>Other top priorities for 2023 include keeping up with bills <b>(17 per cent)<\/b> and growing investments <b>(14 per cent)<\/b>.<\/p>\n<\/li>\n<li>\n<p>Common secondary financial goals for 2023 include saving as much as possible <b>(25 per cent)<\/b>, avoiding taking on more debt <b>(24 per cent)<\/b>, saving for a vacation <b>(21 per cent)<\/b>, and reducing discretionary spending <b>(18 per cent)<\/b>.<\/p>\n<\/li>\n<li>\n<p>Top reasons for taking on more debt include increased cost of living <b>(47 per cent)<\/b>, day-to-day expenses beyond monthly income <b>(34 per cent)<\/b>, unexpected financial emergencies <b>(16 per cent)<\/b>, higher cost of borrowing <b>(16 per cent)<\/b> and home repairs <b>(14 per cent)<\/b>.<\/p>\n<\/li>\n<li>\n<p><b>68 per cent<\/b> of Canadians believe the uncertainty of the current environment makes it difficult to plan.<\/p>\n<\/li>\n<li>\n<p>Among those currently employed, <b>40 per cent<\/b> are concerned about their job security given the present economic environment.<\/p>\n<\/li>\n<li>\n<p><b>80 per cent<\/b> report not having had a goal planning discussion with their financial advisor in the last year.<\/p>\n<\/li>\n<\/ul>\n<p><button class=\"link caas-button collapse-button\" aria-label=\"\" title=\"\" data-ylk=\"elm:readmore;slk:Story continues\">Story continues<\/button><\/p>\n<p><b>Upcoming virtual event<\/b><\/p>\n<p>CIBC is hosting Smart Advice virtual events (in\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=301133856&amp;u=https%3A%2F%2Fna.eventscloud.com%2Fcibc-where-in-the-world-are-we-2023%3Fitrc%3DM686%3A47%26&amp;a=English\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:English\" class=\"link \">English<\/a>\u00a0and\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=1953511050&amp;u=https%3A%2F%2Fna.eventscloud.com%2Fcibc-ou-sommes-nous-dans-le-monde-2023%3Fitrc%3DM686%3A48%26&amp;a=French\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:French\" class=\"link \">French<\/a>) on\u00a0January 26<sup>th<\/sup>\u00a0featuring CIBC leading economists, <span class=\"xn-person\">Benjamin Tal<\/span> and <span class=\"xn-person\">Karyne Charbonneau<\/span>, sharing insights on what to expect from the economy in 2023. Get your questions answered live and learn what you need to prepare for the year ahead.<\/p>\n<p>Tools and support<\/p>\n<p>In addition to expert, personalized advice, CIBC also offers clients the following online tools to help manage their everyday expenses and overall finances:<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=262275431&amp;u=https%3A%2F%2Fwww.cibc.com%2Fen%2Fpersonal-banking%2Fsmart-advice%2Ftools-calculators%2Fbudget-cash-flow-calculator.html&amp;a=Budget+Calculator\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Budget Calculator\" class=\"link \">Budget Calculator<\/a>, offers a clear picture of your monthly cash flow to help make informed financial decisions.<\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=3904809151&amp;u=https%3A%2F%2Fwww.cibc.com%2Fen%2Fpersonal-banking%2Fways-to-bank%2Fsmartplanner.html&amp;a=CIBC+Smart+Planner\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:CIBC Smart Planner\" class=\"link \">CIBC Smart Planner<\/a>, an intuitive goal planning tool that makes it easy for you to set, track and reach your financial goals.<\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=840715346&amp;u=https%3A%2F%2Fwww.cibc.com%2Fen%2Fpersonal-banking%2Fways-to-bank%2Fmobile-services%2Finsights.html&amp;a=CIBC+Insights\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:CIBC Insights\" class=\"link \">CIBC Insights<\/a>, offers tips and proactive alerts about everyday spending to make it easier for you to manage your money and stay on track to achieving your financial goals.<\/p>\n<\/li>\n<\/ul>\n<p>Disclaimer<\/p>\n<p><i>This <\/i><i><u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=1487665160&amp;u=https%3A%2F%2Fwww.marugroup.net%2Fpolling&amp;a=Maru+Public+Opinion\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Maru Public Opinion\" class=\"link \">Maru Public Opinion<\/a><\/u>\u00a0survey was undertaken between December 12\u00a0and <span class=\"xn-chron\">December 19, 2022<\/span> by the sample and data experts at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=3258415257&amp;u=https%3A%2F%2Furldefense.com%2Fv3%2F__http%3A%2Fwww.marublue.net%2F__%3B!!PxNGlQK5RbneE5k!D0om_iGLR83tYC9QMVcVTDECEj3WcOWhpyp_g8j-3J7YXoJI7ryDGUCTAPkI4c1gV0NY%24&amp;a=Maru%2FBlue\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Maru\/Blue\" class=\"link \">Maru\/Blue<\/a>\u00a0and involved 1,523 randomly selected Canadian adults who are\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=1180417571&amp;u=https%3A%2F%2Furldefense.com%2Fv3%2F__http%3A%2Fwww.maruvoice.ca%2F__%3B!!PxNGlQK5RbneE5k!D0om_iGLR83tYC9QMVcVTDECEj3WcOWhpyp_g8j-3J7YXoJI7ryDGUCTAPkI4bH1aAgJ%24&amp;a=Maru+Voice+Canada\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Maru Voice Canada\" class=\"link \"><span class=\"xn-person\">Maru Voice Canada<\/span><\/a>\u00a0online panelists. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +\/- 2.5<b>%<\/b>, 19 times out of 20. The results have been weighted by education, age, gender and region (and in <span class=\"xn-location\">Quebec<\/span>, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.<\/i><\/p>\n<p>About CIBC<\/p>\n<p>CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across\u00a0Canada,\u00a0in the United States\u00a0and around the world. Ongoing news releases and more information about CIBC can be found at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3744294-1&amp;h=3050795118&amp;u=https%3A%2F%2Fwww.cibc.com%2Fen%2Fabout-cibc%2Fmedia-centre.html&amp;a=www.cibc.com%2Fca%2Fmedia-centre\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:www.cibc.com\/ca\/media-centre\" class=\"link \">www.cibc.com\/ca\/media-centre<\/a>.<\/p>\n<p>SOURCE CIBC<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-img-container caas-img-loader\" style=\"height:16px;width:100%;\"><img loading=\"lazy\" class=\"caas-img caas-lazy has-preview has-width\" alt=\"Cision\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/WWYDUYF6Ux7GmOgDOm5a2g--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2O2g9MzY-\/https:\/\/media.zenfs.com\/en\/cnwgroup.com\/346d0195b77fa7a9baf7350c8a928036\" height=\"16\" width=\"16\"\/><noscript><img loading=\"lazy\" alt=\"Cision\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/WWYDUYF6Ux7GmOgDOm5a2g--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2O2g9MzY-\/https:\/\/media.zenfs.com\/en\/cnwgroup.com\/346d0195b77fa7a9baf7350c8a928036\" height=\"16\" width=\"16\" class=\"caas-img has-width\"\/><\/noscript><\/div>\n<p><figcaption class=\"caption-collapse\">Cision<\/figcaption><\/p>\n<\/figure>\n<p>View original content to download multimedia: <a href=\"http:\/\/www.newswire.ca\/en\/releases\/archive\/December2022\/28\/c9307.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:http:\/\/www.newswire.ca\/en\/releases\/archive\/December2022\/28\/c9307.html\" class=\"link \">http:\/\/www.newswire.ca\/en\/releases\/archive\/December2022\/28\/c9307.html<\/a><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiUWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9yZXBheWluZy1kZWJ0LWNhbmFkaWFucy0xLWZpbmFuY2lhbC0xMjMwMDA2MTguaHRtbNIBWWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL3JlcGF5aW5nLWRlYnQtY2FuYWRpYW5zLTEtZmluYW5jaWFsLTEyMzAwMDYxOC5odG1s?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, Dec. 28, 2022 \/CNW\/ &#8211; CIBC&#8217;s annual Financial Priorities poll finds that repaying debt is the number one goal for Canadians in 2023 (18 per cent), while inflation (65 per cent), rising interest rates (30 per cent), and recessionary fears (24 per cent) top the list of financial concerns. CIBC Logo (CNW Group\/CIBC) The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":39455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/39454"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=39454"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/39454\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/39455"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=39454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=39454"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=39454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}