Nearly three in five parents in the province say it is difficult for them and their family to save money in a bank account.
Vancouver, BC [February 21, 2022] – Compared to two years ago, parents in British Columbia are not as concerned about issues related to finances, work or family, according to a new Research Co.
In the online survey of a provincially representative sample of parents, 48% say they experience financial hardship “frequently” or “occasionally,” down nine points from a similar Research Co. poll conducted in February 2020.
Less than half of parents in British Columbia acknowledge experiencing family stress (47%, -6) and work-related stress (37%, -21) “frequently” or “occasionally”.
Almost three in five parents (58%, +7) say they experience housing-related stress, such as finding a place to live or paying a mortgage or rent, “frequently” or “occasionally”.
“Losing sleep over housing is not unique to parents in the Lower Mainland,” says Mario Canseco, president of Research Co. “In fact, parents in southern British Columbia (71%) and northern British Columbia (66%) are much more likely to say they are experiencing housing stress.
Two in five parents (40%, =) say it is “moderately” or “very difficult” to make ends meet at this stage, a proportion that rises to 46% among those living in southern British Columbia.
As in 2020, almost three in five parents in British Columbia (59%, +1) admit to having difficulty saving in a bank account. More than two in five people (42%, -2) feel the same way about covering daily expenses.
Fewer parents in British Columbia say it is currently difficult to pay for transportation (34%, -5) and pay for child care (30%, -12).
Almost half of British Columbia parents (49%, -16) believe it is “very likely” or “moderately likely” that their child (or one of their children) will have to leave the municipality where they currently lives due to high cost of living.
While the majority of parents in Metro Vancouver (56%) and southern British Columbia (52%) expect their children to move out at some point due to affordability issues, proportion is lower on Vancouver Island (38%), the Fraser Valley (30%) and northern British Columbia (23%).
Methodology: The findings are based on an online survey conducted February 7-9, 2022 among 627 adult parents of children ages 0-18 in Metro Vancouver. Data was statistically weighted to Canadian census counts for age, gender and region in Metro Vancouver. The margin of error, which measures the variability of the sample, is +/- 3.7 percentage points, nineteen times out of twenty.
Find our data tables here and download the press release here.
For more information about this survey, please contact:
Mario Canseco, President, Research Co.778.929.0490 [e] [email protected]