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British Columbians less optimistic about money in 2013 than the rest of Canada

British Columbians are more positive about their finances than they were a year ago, but they’re still the most negative in the country, a poll released Thursday suggests.

The Harris-Decima poll conducted for CIBC found that 65 per cent of those surveyed in B.C. were feeling positive about their financial situation, which is up 11 per cent over a similar survey held last year. However, the B.C. results are five percentage points below the Canadian average of 70 per cent and ten percentage points below Manitoba and Saskatchewan, where 75 per cent of people were feeling positive about their situation.

People who were 65 and older formed the most confident age group, at 73 per cent feeling positive about their current situation. Respondents aged 25 to 34 were the least satisfied group at 67 per cent.

The survey also found more people who reported confidence about their ability to reach their future financial goals.

The overall average was two percentage points higher than last year, rising to 74 per cent. In B.C., the number was close to the national average, with 72 per cent of respondents reporting confidence about reaching their financial goals. Manitoba and Saskatchewan also had the most confidence about meeting future financial goals, with 84 per cent giving positive responses. That was 20 points ahead of Quebec, the least confident region at 64 per cent.

There was little variation by age group, with all demographics reporting between 73 and 75 per cent.

Christina Kramer, a CIBC executive vice-president, said the survey suggests Canadians are more confident about reaching their long-term financial goals as they head into 2013.

“The next step is to turn that confidence into action by putting plans in place at the start of the year that will help you make progress toward the things that matter most to you,” Kramer said.

This year’s telephone survey of about 2,000 adults across Canada was conducted between Oct. 25 and Nov. 4.

A sample of this size is considered to be accurate within 2.2 percentage points, 19 times out of 20, on a national basis.

Regional results and other subsets of the national findings are less accurate because of the smaller sample size.

 

tsherlock@vancouversun.com

Blog: vancouversun.com/yourmoney

Read more: http://www.vancouversun.com/business/British+Columbians+less+optimistic+about+money+2013+than+rest/7748612/story.html#ixzz2HQ4EtNvR

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