Pulse survey finds financial wellbeing, personal freedom, and the environment top Canadians’ list of criteria for a better future
Traditionally, the Canadian dream has revolved around milestones such as parenthood, homeownership, and retirement. But according to a new study by digital fintech firm Mogo, the Dream is going in a greener direction.
Drawing from a survey of members of the Angus Reid Forum, Mogo found that financial security was the most important aspect of the Canadian dream, as identified by 33% of Canadians polled. That was followed by “freedom to follow personal dreams,” which 24% of respondents cited.
When asked what is most important to them personally, a third of Canadians (33%) shared a focus on providing for their loved ones, wile only slightly fewer said they were most interested in “enjoying life right now” (29%).
Gauging respondents’ outlook on their ability to reach their personal Canadian Dream, the study found two thirds (65%) were optimistic that they can achieve their ambitions. Surprisingly, the same number of respondents (65%) were pessimistic about the ability of most Canadians to hit their financial goals.
There was also a rift in sentiment between Canadian households with at least $50,000 in annual income (72% believed they can achieve their Canadian Dream) and those with annual incomes below that threshold (only 43% thought they can fulfill their dream).
While ESG priorities didn’t make it to the top of most Canadian dreamers’ checklists, “environmental protection” was among the top three items for 21% of survey respondents, including 28% of British Columbians.
Canadians’ green leanings also showed when they were asked to select their top concerns about Canada’s future. While the economy emerged as the number one response, cited by 73% of Canadians, that was predominantly followed by ESG concerns including:
- Protecting our oceans and water supply (64%);
- COVID or future pandemics (59%);
- Social justice (52%);
- Pollution (50%);
- Wildfires (49%);
- Deforestation (43%);
- Cyber security (42%); and
- Oil drilling (33%).
Among all Canadians surveyed, 76% said they’re doing something to protect Canada’s future. In line with that, 85% said buying from environmentally responsible companies is a matter of personal importance.
But less encouragingly, 54% of respondents said they don’t know how many environmentally responsible companies they’ve made a purchase from in the past month, and 37% said they would not pay more for a product offered by an environmentally friendly company.
