Many Americans admire Canada’s publicly funded health care system and other social services. But when it comes to establishing a personal safety net, our northern neighbors aren’t necessarily the best example to follow.
That’s one conclusion to be drawn from a new study from BMO Financial Group. The report finds that while two-thirds of Canadians feel prepared financially to handle a 'rainy day,' the majority (51 per cent) have less than $10,000 in savings to cover unexpected expenses. And another one in five (17 per cent) have less than $1,000.