GlobeNewswire·Jul 22, 2026, 6:00 AM ET

Canadians Show Signs of Financial Improvement but Continue to Feel the Cost-of-Living Squeeze: TransUnion Canada Study

86% of Canadians rank inflation among their top three household financial concerns.
50% of surveyed Canadians state their income is not keeping pace with inflation.
51% of consumers are cutting discretionary spending on items like dining out, travel, & entertainment.
26% have cancelled subscriptions or memberships to manage costs.
18% of respondents are paying down debt obligations faster than before.
45% of Canadians express optimism about their household finances over the next 12 months.
25% of consumers plan to apply for new credit or refinance existing credit within the year.
Gen Z consumers lead credit demand, with 48% planning to apply for new credit or refinancing.
Credit cards remain the preferred borrowing product, with 49% of prospective borrowers targeting new cards.
21% of consumers considered applying for new credit but declined, citing costs or lack of need.
40% of Canadians now check their credit report at least monthly to monitor for fraud.
44% of Canadians were targeted by fraud in the past three months without becoming victims.
20% of consumers reported being notified of a data breach affecting them.
33% of consumers took no action regarding cybersecurity concerns due to uncertainty on next steps.
25% of consumers reported an increase in household income over the past three months.
11% of Canadians increased discretionary spending, marking the first year-over-year rise in this category.