A new national survey by Licensed Insolvency Trustee firm Harris & Partners has confirmed what many Canadians already feel in their gut: the money’s not stretching far enough anymore.

According to responses from over 1,700 Canadians, 57.3% say their income no longer covers essential expenses like rent, groceries, and utilities. The data paints a sobering picture of a country where even full-time workers are falling behind, forced to rely on credit or skip bills just to stay afloat.

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“More than half of Canadians feel they’re falling behind financially — not because of bad choices, but because their income simply isn’t keeping up with the cost of living,” said Joshua Harris, CEO of Harris & Partners.

While inflation may have cooled on paper, everyday costs remain stubbornly high, with wage growth failing to catch up. Harris warned that the problem isn’t just economic — it’s emotional and psychological too.

“When people feel like they’re working hard but still can’t make ends meet, it creates a sense of hopelessness,” he said. “We’re seeing more Canadians reaching out not just because they’re in debt, but because they’re mentally and emotionally exhausted.”

The cost-of-living crisis is now touching nearly every demographic and region in Canada, leaving financial stress as the common denominator. According to the firm, many respondents reported relying on credit cards for necessities or skipping essential payments — early red flags for deeper financial trouble.

Harris & Partners is calling for broader support systems, including increased financial education, access to professional debt advice, and a national conversation about income adequacy and affordability.

“Canadians are budgeting, cutting back, and working harder than ever,” Harris said. “But without structural change, individual effort can only go so far.”

The survey, conducted in July 2025, included responses from 1,731 adults across Canada.