The IG Financial Confidence Index tracks and reports on Canadians' overall financial confidence by examining IG’s Four Pillars of Financial Confidence: Current Personal Financial Situation, Personal Financial Outlook, Planning and Literacy and Trust in the Economy.
This year’s Index score (52) rose above the historical average (51) for the first time since 2021, revealing an interesting paradox. Despite widespread concerns about the global economy, political instability and affordability, Canadians are showing a surprising degree of optimism and self-reliance when it comes to their personal finances.
Among IG’s four priority community groups, Indigenous Canadians’ confidence saw a significant rise of nine points this year, while seniors remained steady at 60 points and newcomers to Canada decreased four points, confirming why we continue to focus on building financial confidence among these groups.