Most in B.C. feel personal finances haven’t changed in past six months, survey finds

When it comes to personal finances, a new survey by Mustel Group suggests most people in B.C. haven’t seen a change over the past six months.

The survey goes on to say about one quarter of all respondents feel their finances are worse, and one-in-ten believe they have improved.

Those between 18 and 34 are more likely to say they feel their financial situation has improved over the last year, compared to those 35 and older. Families with children are more likely to say their situations have worsened, compared with those without children.

Most respondents — just under half — say they don’t think the next six months will bring any improvements to the current economic condition in the province.

“A closer look at the broader economic climate in British Columbia unveils a sense of pessimism among residents,” Mustel said in its report.

“Nearly one-half foresee no improvement in economic conditions (48 per cent), while four-in-ten anticipate a downturn (39 per cent), and fewer than one-in-ten expect positive change (nine per cent). These sentiments cut across age groups, genders, and household types, highlighting a pervasive sense of economic anxiety.”

On the positive side, most British Columbians say they feel somewhat secure in their current jobs. Fewer than 10 per cent say they do not feel secure.

Mustel says two-thirds of the province’s residents feel that it’s a bad time to purchase a home, a car, or another big ticket item, and families with children are most likely to feel that way.

The survey was conducted last November with random samples of B.C. residents.

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