MONEY WORRIES AFFECT FAMILIES
As British Columbia observed its second Family Day on the same date as other Canadian provinces, Research Co. looked at the way parents in B.C. are feeling about the present and the future. While economic indicators point to a province that is on solid footing, there are certain aspects of daily life that continue to complicate matters for families.
A majority of residents of British Columbia who have a child up to age 18 living at home acknowledge having experienced stress “frequently” or “occasionally” due to four different concerns. Tension at work is at the top of the list (58 per cent), followed closely by financial stress (57 per cent), family-related anxiety (53 per cent) and housing-related preoccupations (51 per cent).
There are some subtle gender differences. Dads in British Columbia are more likely to say that they are stressed by their job (63 per cent) and their family (56 per cent) than moms. It is important to note that anywhere from 15 per cent to 23 per cent of parents in the province claim to never experience any tension related to money, work, family or housing.
Across the province, almost three in five moms and dads (58 per cent) say it is “very easy” or “moderately easy” for them and their family to make ends meet.
This leaves two in five parents (40 per cent) who are having a “moderately difficult” or “very difficult” time with their current state of affairs.
Parents in southern B.C. appear to be having a better time facing life, with just 28 per cent saying that it is difficult to make ends meet. The proportion is significantly higher in Metro Vancouver (39 per cent), the Fraser Valley (40 per cent) and Vancouver Island (45 per cent). However, the area that seems to be having major struggles is northern B.C. (60 per cent).
When it comes to families and money, certain aspects of family life are harder than others, and the location of parents plays a role in just how serious the situation can be.
Almost two in five parents in the province (39 per cent) say paying for transportation is currently “moderately difficult” or “very difficult,” but the proportion rises to 47 per cent in southern B.C. Paying for child care is hard for 42 per cent of families, but in northern B.C. the number climbs to 59 per cent. Dealing with day-to-day expenses is a challenge for 44 per cent of parents, including 56 per cent in the Fraser Valley.
These localized struggles are making it particularly complicated for families in the province to plan for the future. Almost three in five parents (58 per cent) say saving money in a bank account is difficult for them and their families.
The fear of a future where their children are forced to move outside of their current municipality is real for a sizable proportion of parents in British Columbia. Across the province, 66 per cent of parents believe it is “very likely” or “moderately likely” that their child (or any one of their children) will have to move away due to the high cost of living.
The proportion of parents who expect their children to move away for financial reasons is highest in northern B.C. (73 per cent), followed by southern B.C. (69 per cent), Vancouver Island (68 per cent) and Metro Vancouver (66 per cent). Parents in the Fraser Valley (48 per cent) are more confident that their kids will find a way to continue with their lives close to home.
Parents in British Columbia have different worries in mind. The cost of child care continues to be a concern, and the provincial government has vowed to increase spending on this file, even if it falls short of the overwhelmingly well-received $10-a-day proposal that has been championed by early childhood educators for years.