Almost three-in-five parents in British Columbia (58%) say it is currently “very difficult” or “moderately difficult” for them to save money in a bank account, a new Research Co. poll has found. Other tasks that are currently tough for about two-in-five parents in the province are paying for day to day expenses (44%), paying for child care (42%) and paying for transportation (39%).
In the online survey of a representative provincial sample of parents, 58% say they experience work-related stress “frequently” or “occasionally.”
Majorities of parents in the province say they have also “frequently” or “occasionally” experienced financial stress (57%), family-related stress (53%) and housing-related stress (51%).
Across British Columbia, two-in-five parents (40%) say it is currently “moderately difficult” or “very difficult” for them to make ends meet.
The proportion of parents who are having a hard time getting by financially is highest in Northern BC (60%), followed by Vancouver Island (45%), the Fraser Valley (40%), Metro Vancouver (39%) and Southern BC (28%).
“Majorities of parents who reside in the Fraser Valley (62%), Metro Vancouver (59%), Vancouver Island (55%) and Southern BC (52%) acknowledge that saving for the future has become more complicated,” says Mario Canseco, President of Research Co. “Transportation is a bigger issue for parents in Southern BC (47%), while day to day expenses are more of a problem in Northern BC (48%) and Vancouver Island (47%).”
Across the province, 65% of parents say it is “very likely” or “moderately likely” that their child (or any one of their children) would have to move away from the municipality where they currently live due to the high cost of living.
The proportion of parents in Metro Vancouver who expect their children to move away on account of financial constraints stands at 66%, up 24 points since a similar Research Co. poll conducted in 2019.
Results are based on an online study conducted from February 4 to February 7, 2020, among 623 adult parents of children aged 0 to 18 in British Columbia. The data has been statistically weighted according to Canadian census figures for age, gender and region in British Columbia.