Although B.C. is in Phase 3 of its Restart plan, many British Columbians are still struggling to make their rent.
Coast Capital Savings recently released a poll that underlines the financial impact of COVID-19.
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According to the study, 28% of respondents reported they have missed or only been able to make partial payments on their monthly rent or mortgage payments.
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“This is an incredibly stressful time for many individuals and families,” said Matt Atkinson, Director, Strategic Initiatives, Coast Capital Savings. “The impact was swift, wide-reaching and significant for those who haven’t accumulated savings or rainy-day fund to help provide a cushion.”
The poll also found the COVID-19 pandemic has impacted 38% of British Columbians’ employment. And in the last three months, 37% of residents said their personal finances have worsened. While 23% said their debt levels have increased over the same time period.
The online poll surveyed 802 residents from the Lower Mainland and Vancouver island, between June 17-21st.
Federal funding has reached spending levels not seen since World War Two, in an effort to help people during the pandemic.
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Featured photo: mokastet / Flickr
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