Debt repayment and budgeting are the top financial priorities for 2026
Canadians are heading into 2026 with a sharp focus on financial discipline, prioritizing debt reduction and keeping up with bills as inflation and cost-of-living pressures weigh on households.
The latest release of the annual CIBC Financial Priorities Poll reveals that paying down or eliminating debt is the top financial priority for Canadians, with 16% of respondents saying it is their main focus. The same percentage said that keeping up with regular bill payments is their priority, reflecting the squeeze that many households continue to feel amid ongoing economic uncertainty.
While with 70% of Canadians express confidence about their prospects in the year ahead as they look to their financial goals, that figure is down from 76% last year and while 55% say they are prepared to handle an unexpected financial challenge, that share has declined compared to the prior year, underlining a more cautious outlook.
“While confidence in future financial goals remains high, it’s clear that Canadians are feeling some near term pressure around the management of cash flow and month to month expenses,” said Carissa Lucreziano, Vice-President, Financial Planning and Advice at CIBC. “Personalized advice and proactive planning can make a real difference in structuring a plan that makes sense for your current situation and can build confidence in achieving long term goals for you and your family.”
The poll also revealed that nearly half of respondents plan to start or increase their investing as a New Year’s resolution, suggesting many are trying to balance immediate financial challenges with longer-term goals.
Lucreziano added that working with a financial advisor can help individuals build strategies tailored to their circumstances, whether they feel confident about meeting their targets or have questions about their financial direction.
“Whether you are confident about meeting your financial goals in 2026 or have questions about your financial outlook, working with an advisor can help you implement a plan to work towards your ambitions,” she said.
