B.C. residents are less confident about their finances heading into 2012 than they were a year ago, a new CIBC (TSX:CM) poll has found.
According to the survey, 70% of B.C. residents say they are confident they will reach their financial goals, down from 79% one year ago.
The poll further found the number of British Columbians feeling positive about their current financial situation has declined to 54% – an 18% drop from a year ago.
In a press release, CIBC spokesperson Christina Kramer, executive vice-president, retail distribution and channel strategy, emphasized that the majority of B.C. residents remain confident about their finances.
“B.C. residents are entering 2012 with a generally confident outlook on their future finances,” she said, “although they are somewhat less positive about their current financial situation than they were a year ago.”
The bank survey also identified that British Columbians are increasingly seeing value in setting financial goals for themselves. CIBC found that, heading into 2012, 59% of survey respondents said they regularly set financial goals for themselves, compared with 53% a year ago.
A CIBC spokesperson was not available by press deadline.
Jenny Wagler
@JennyWagler_BIV