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  • 17% of Canadians avoid talking about money and finances

    Embarrassing health issues, followed by sex and money, tops list of Awkward Silences Survey, which asked Canadians what topic of conversation they avoid most. When it came to money topics they avoid most, debt and bankruptcy topped the list.

    TORONTO, ON. May 27, 2019 – A new national survey by Credit Canada shows that while many Canadians avoid talking about their money and finances, uncomfortable health issues tops the list of topics Canadians least like to talk about.

    The Awkward Silences Survey, an Angus Reid poll of 1,500 Canadians, probed the population on which topics of conversation they avoid most and where money ranks in comparison.

    When asked to choose which ONE topic they least like to talk about, one-in-five said embarrassing health issues (20%) followed by sex (18%), money (17%) and religion or politics (17%). Rounding out the responses were small talk (15%) and family and relationship issues (13%). The reluctance to discuss embarrassing health issues was more prevalent among men (23%) than women (17%).

    “While every person’s financial situation is unique, these findings emphasize that talking about money is still considered taboo – somewhere in the middle between a surprise rash and elevator small talk,” said Laurie Campbell, CEO of Credit Canada. “It’s still a topic that many Canadians want to steer clear of but through this campaign, we hope to demystify and destigmatize the topic of money.”

    Credit Canada also conducted a social media contest, probing Canadians on what they would rather talk about than their finances. Responses ranged from hemorrhoid remedies, menopause and childbirth, to plane crashes with nervous passengers and unsavory bathroom odours.

    The money talk: Debt and bankruptcy top the taboo list
    Meanwhile, when asked which ONE money topic people least like talking about, personal debt and bankruptcy led by a huge margin with one-in-three declaring it taboo (34%). This number is significantly higher in Quebec (42%) and lowest in Ontario (28%). This was followed by net worth/assets (22%), income/salary (16%), spending habits (12%), investments or savings (11%) and mortgage (5%).

    Debt Assessment Quiz starts the conversation
    Although the average Canadian has over $22,000 in non-mortgage debt, nobody likes to talk about it. The topic can seem overwhelming, especially when factoring in interest rates, payment plans and budgeting. In an effort to help those with debt, the non-profit debt experts at Credit Canada have developed a Debt Assessment Quiz which aims to help users determine their best course of action.

    The quiz asks users four simple questions regarding their debt and finances. Different options are provided based on their answers, which can range from managing on your own to something more drastic such as insolvency, which includes consumer proposals and bankruptcy. It’s a good tool for anyone who isn’t ready to speak to a certified Credit Counsellor but would like to get an idea of what their options are.

    The full results of the Awkward Silences Survey can be found here.

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    About Credit Canada
    Credit Canada is a not-for-profit credit counselling agency that provides free and confidential debt and credit counselling, personal debt management, debt consolidation and resolutions, as well as preventative counselling, educational seminars, and free tips and tools in the areas of budgeting, money management, and financial goal-setting. Credit Canada is Canada’s first and longest-standing credit counselling agency and a leader in financial wellness, helping Canadians successfully manage their debt since 1966. Please visit www.creditcanada.com for more information.


    About the Awkward Silences Survey
    From April 25 to April 27, 2019, an online survey was conducted among a representative sample of 1500 Canadians who are members of the Angus Reid Forum. For comparison purposes only, the sample plan would carry a margin of error of +/- 2.2 percentage points, 19 times out of 20. 


    Contact for more information
    Emma Ninham
    MAVERICK
    Office: 416-640-5525 x 239
    Mobile: 437-986-5746
    Email: emman@wearemaverick.com