A CIBC poll finds that 29% of Canadians have taken on more debt this year.
The top reasons for taking on more debt include covering day-to-day expenses, purchasing new vehicles or home repairs or renovations.
The survey found that 26% have made it a priority to pay down that debt, while 14% plan to ensure they will keep up with their bills.
12% hope to grow their wealth, while 7% are saving up for a vacation in 2019.
6% are saving up for retirement.
The top sources of debt are credit cards, mortgage, car loans, line of credit and personal loans, in that order.
The survey also found that many Canadians are concerned about rising costs including inflation and interest rates.
