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Living paycheque to paycheque? How Canadians get by
Rounding it up
47% of Candadians live paycheque to paycheque, many of whom resort to overdraft protection or some type of loan to get by.
Access to loans, however, is rife with inequalities. If you earn middle to high income and have good credit, you’ll be approved for decent lending products like lines of credit.
If you earn low income or have bad credit, you’re often stuck with predatory payday lending.
A better alternative? Seek lending from a credit union (they tend to be more community-driven) or use KOHO’s Early Payroll feature.
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