Almost three-in-five parents across the province say it is difficult for them and their family to save money in a bank account.
Vancouver, BC [February 21, 2022] – Compared to two years ago, parents across British Columbia are not as worried about issues related to finances, work or family, a new Research Co. poll has found.
In the online survey of a representative provincial sample of parents, 48% say they experience financial stress “frequently” or “occasionally”, down nine points since a similar Research Co. poll conducted in February 2020.
Fewer than half of parents in British Columbia acknowledge experiencing family-related stress (47%, -6) and work-related stress (37%, -21) “frequently” or “occasionally”.
Almost three-in-five parents (58%, +7) say they experience housing-related stress—such as finding a place to live or paying for a mortgage or rent—“frequently” or “occasionally”.
“Losing sleep over housing is not an occurrence exclusive to parents in the Lower Mainland,” says Mario Canseco, President of Research Co. “In fact, parents in Southern BC (71%) and Northern BC (66%) are significantly more likely to say that they are experiencing housing-related stress.”
Two-in-five parents (40%, =) say it is “moderately difficult” or “very difficult” for them to make ends meet at this point—a proportion that rises to 46% among those who reside in Southern BC.
As was the case in 2020, almost three-in-five parents in British Columbia (59%, +1) acknowledge having difficulties saving money in a bank account. More than two-in-five (42%, -2) feel the same way about covering day-to-day expenses.
Fewer parents in British Columbia say it is currently difficult to pay for transportation (34%, -5) and to pay for child care (30%, -12).
Almost half of parents in British Columbia (49%, -16) believe it is “very likely” or “moderately likely” that their child (or any one of their children) will have to move away from the municipality where they currently live due to the high cost of living.
While majorities of parents in Metro Vancouver (56%) and Southern BC (52%) expect their kids to move away at some point because of affordability issues, the proportion is lower in Vancouver Island (38%), the Fraser Valley (30%) and Northern BC (23%).
Methodology: Results are based on an online study conducted from February 7 to February 9, 2022, among 627 adult parents of children aged 0 to 18 in Metro Vancouver. The data has been statistically weighted according to Canadian census figures for age, gender and region in Metro Vancouver. The margin of error— which measures sample variability—is +/- 3.7 percentage points, nineteen times out of twenty.
Find our data tables here and download the press release here.
For more information on this poll, please contact:
Mario Canseco, President, Research Co.
778.929.0490 [e] mario.canseco@researchco.ca