Majority of BC parents find it difficult to make ends meet: survey

Parents across BC are experiencing rising rates of financial stress as they are struggling to make ends meet, according to a recent Research Co. survey.

Items such as gas and groceries represent a financial burden for two out of three parents of children aged zero to 18 in the province, according to a media release issued today, Sept. 13. In fact, 67% of parents report “frequent” or “occasional” financial stress according to the results of this new survey. This is in contrast to 48% who answered similarly just a year ago.

“The current state of affairs, particularly on economic matters, is taking a toll on mothers in British Columbia,” Research Co. president Mario Canseco said in the release. “More than two in five (42%) say they frequently experience financial stress.”

Moreover, 66% and 65% of respondents have also experienced family-related stress and work-related stress, respectively, on a “frequent” or “occasional” basis. This is a 21% increase for family-related stress and a 19% increase for work-related stress from the 2022 survey.

When it comes to housing-related stress – stress relating to finding or affording housing – the 2023 results have dropped 11 points to 47% experiencing this “frequently” or “occasionally.”

For parents in B.C., “making ends meet” has become a “moderately” to “very” difficult task with 57% of participants responding within these categories.

Regionally, Northern B.C. parents are overwhelmingly experiencing setbacks with “making ends meet” at 66%. This rate stands at 62% in the Fraser Valley, 58% in Southern B.C., 58% in Metro Vancouver, and 52% on Vancouver Island.

The survey found 43% of parents in the province experience difficulties with transportation fees while a majority (56%) experience difficulties paying everyday expenses. When it comes to putting money aside for savings, an astonishing 80% of parents find it difficult to do so, this rate went up 21% since last year.

When asked if they believe their kids will have to leave their current municipalities due to high costs of living, 52% of parents answer that it is “very” or “moderately likely” to see this happen.

This study was done by Research Co. and was based on the answers of 619 parents of children aged zero to 18, answers were then weighed based on the Canadian Census for regional data.

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