Repaying debt is top priority for Canadians: poll

TORONTO – According to a poll conducted and published by CIBC, minimizing or eliminating debt remains the top financial priority for Canadians in the new year.

CIBC’s annual Financial Priorities poll found that 17 per cent of Canadians deemed minimizing or eliminating debt as their top financial priority of 2025, followed by keeping up with bill payments at 16%.

The poll also revealed the top financial concerns for Canadians, with 66% deeming inflation/cost of living as their main financial concern, followed by 28% who feel that high interest rates are their top concern.

According to the poll, 65% of Canadians are worried about the possibility of a recession, over half (59%) feel prepared to weather an unexpected financial event or hardship, and most (53%) feel their financial situation is secure enough to withstand a recession.