More Ontarians are questioning whether they’ll ever achieve long-term financial security, even if they’re coping today, a new national survey suggests.

A recent RBC Financial Flexibility Poll finds Canadians are split almost evenly between optimism and financial stress, with Ontario reflecting and in some cases exceeding those pressures.

While 68 per cent Canadians say they are confident they can meet their needs right now, fewer than half — 48 per cent — believe they will reach their long-term financial goals. The findings underscore a widening divide between short-term stability and long-term confidence, particularly in high-cost provinces like Ontario.

In Ontario, respondents were among the most likely in the country to point to housing and everyday spending habits as major barriers to achieving financial goals. 66 per cent cited housing as a key challenge. Meanwhile, 52 per cent pointed to personal financial habits setting them back, both among the top three regions nationally.

RBC says the gap highlights how uneven financial pressures have become in recent years.

“Financial pressures and uncertainty of the past year have challenged Canadians to reassess their financial security,” said Erica Nielsen, Group Head, RBC Personal Banking. “The impact hasn’t been the same for everyone, which is evident in the contrasts in how people are feeling about their finances today and their outlook for the future.”

A broader look at financial confidence

Among Canadians who feel financially confident, the poll found more proactive behaviours. About half (50 per cent) say they have reduced or paid off debt, 44 per cent say they follow a budget, and 58 per cent say they are investing in a TFSA or RRSP.

A person walks past the TMX Market Centre in Toronto, Wednesday, Sept. 11, 2024. THE CANADIAN PRESS/Paige Taylor White A person walks past the TMX Market Centre in Toronto, Wednesday, Sept. 11, 2024. THE CANADIAN PRESS/Paige Taylor White

In addition, 40 per cent say they would live more frugally now, to be financially secure down the road.

But the outlook is far bleaker for those who are struggling.

“49 per cent believe they won’t achieve financial success no matter what they do,” the report stated, adding that “41 per cent feel they are no longer in control of their financial future.”

Where Ontario feels the squeeze

The findings land amid mounting affordability concerns in Ontario.

A separate report released months prior, found nearly a $10-an-hour gap between Ontario’s minimum wage and what workers need to earn to comfortably live in the Greater Toronto Area.

Royal Bank of Canada Wealth Management (RBC) signage is pictured in Ottawa on Wednesday Sept. 7, 2022. THE CANADIAN PRESS/Sean Kilpatrick Royal Bank of Canada Wealth Management (RBC) signage is pictured in Ottawa on Wednesday Sept. 7, 2022. THE CANADIAN PRESS/Sean Kilpatrick (Sean Kilpatrick)

According to the RBC survey, 66 per cent of Ontarians say their biggest financial goal for 2026 is to “enjoy retirement the way they want” — the highest regional response in the country, ahead of Alberta (65 per cent) and British Columbia (63 per cent).

Among other financial goals, 52 per cent of Ontarians say their biggest goal for the year is to have a “financial cushion for unexpected expenses.”

At the same time, new polling from Mental Health Research Canada shows 36 per cent of Canadians say the possibility of not being able to pay their bills is negatively affecting their mental health.

RBC notes that financial stress can feel particularly acute after the holiday season, when unplanned expenses often pile up.

Money Stress

“The start of a new year offers an opportunity to rethink and reset financial priorities,” Nielsen said. “This is where financial advice professionals can help you create or update your budget and financial plan and explore where you can find financial flexibility in the year ahead.”

METHODOLOGY:

The RBC survey was conducted between Sept. 26 and 29, 2025, among 1,500 Canadians through the Angus Reid Forum. For comparison purposes, a probability sample of that size would carry a margin of error of plus or minus 2.5 percentage points, 19 times out of 20

We want to hear from you

For many Ontarians, staying afloat today doesn’t necessarily mean feeling secure about the future.

Whether you’re managing day-to-day expenses, worried about long-term goals, or struggling with debt, CTV News Toronto wants to hear from you.

  • Do you feel optimistic or pessimistic about your financial future?
  • Are rising housing, grocery or debt costs changing how you plan, or whether you plan at all?
  • Have you given up on certain financial goals, or adjusted what “success” looks like?
  • Do you feel more confident about your finances today than you did a year ago, or less?

Share your thoughts by emailing us at torontonews@bellmedia.ca with your name, general location, and phone number in case we want to follow up. Your comments may be used in a CTVNews.ca story.