Payday secrets

Everything you wanted to know, but were afraid to ask, about how Canadians spend their hard earned money
||Last Updated: 09/30/2005

The majority of Canadians feel positive about their financial situations, according to a recent survey.

The second annual ADP

Payday Poll

, conducted by ADP Canada and Environics Research, found that 60 per cent of Canadians feel their financial situation is better than their parents’ was at the same age and nearly 75 per cent of Canadians are spending more or the same on goods and services as they did last year.

However, only 30 per cent of Canadians said their paycheques are bigger this year, while 15 per cent said they have shrunk. More Albertans (36 per cent) said their paycheques are bigger, while just 22 per cent of Quebecers said their paycheques have grown.

One quarter of respondents admitted to an overwhelming curiosity about their co-workers and said if a co-worker left her pay-stub lying open on her desk, they would sneak a peak. Ten per cent said vices including chocolate, cigarettes, alcohol, gambling and even strippers were indulgences they couldn’t live without.

Despite Statistics Canada data that showed Canadians are spending more than they’re earning, in the ADP survey more than half of respondents described themselves as savers rather than spenders.

Nearly one third of respondents said they would save or invest an unexpected $1,000-bonus, while 43 per cent said they would use it to pay down debts, 20 per cent said they would treat themselves or someone else and only 3 per cent said they would give it to charity.

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