A new CIBC poll finds debt repayment is the number one financial priority for Canadians in 2020.
For the tenth consecutive survey, debt has topped the list as a financial priority for Canadians for the new year.
More than 1,500 Canadians were surveyed earlier this month.
Seventy-one per cent of respondents said they held back from borrowing in 2019.
The same amount are concerned about the rising costs of household goods next year, and around 55 per cent are worried about a potential recession in 2020.
Paying down debt was the top priority followed by keeping up with bills and just getting by.
Thirteen per cent planned to grow investments or wealth, and the remainder were saving for a vacation or retirement.
(Photo: CIBC)
