A year of recession has changed the spending habits of Canadians, according to a new survey by Sun Life Financial.
Almost 60% of Canadians said they have spent less since January and 60% reduced their debt at the same time.
The survey found that paying housing expenses remains the most important financial priority for Canadian workers under the age of 51, at which time retirement savings take over as top priority.
Those thinking about retirement are feeling more confident with more respondents anticipating they will not need to work longer than originally intended.
More Canadians also feel their retirement will be as comfortable as they hoped, however, British Columbians were the least optimistic.
On average, 55% of Canadians now believe they will retire at age 66, up from 51% of respondents in December.