Almost 70% of British Columbians says they are not financially prepared to deal with a life-changing event like loss of employment or unexpected auto-repairs.

Latest data from MNP shows 46% of people in BC don’t think they’ll be able to cover all their living and family expenses over the next 12 months. Licensed Insolvency Trustee Dean Prentice thought that number would be higher. “If anything it’s surprising that it hasn’t increased more. There’s a lot of uncertainty. People are concerned, Especially with the softwood lumber issues, a lot of people don’t know if from a year from now they will have a paycheque.”

Prentice says more than a quarter of people say they don’t make enough money to cover all their bills and debt obligations each month. The MNP study shows that more people feel they’re closer to being unable to pay their monthly bills. Prentice says is surprised the number isn’t higher given some economic uncertainties and stresses that being aware of your financial situation is important. “I think most people know their situation but they don’t want to face it. They’ll ignore it because they can get through today, they can get through this week, and all it takes is for one little event when they’re forced to make a decision.” Prentice adds that people aged 40 to 60 seem to be the most concerned. “And that’s because a lot of the people who had stable jobs and if a mill is shutting down or there’s been a reduction in trucking, they’re finding it hard to get employment. That’s the biggest increase we’ve seen.”

You can ready the whole report here.