Most people in Ontario agree that everyday living costs are out of control

It seems the affordability crisis in Ontario worsens by the day, and many residents admit they don't feel confident about their financial future.

The latest RBC Financial Flexibility Poll shows that the vast majority of Ontario residents feel the everyday costs of living are preventing them from planning financial goals, underscoring the sky-high price of groceries, housing, and other basic necessities in the province.

In the eye-opening poll, results show a staggering 80 per cent of Ontario residents agree that the cost of living is the biggest barrier standing in the way of them achieving financial success, followed by expensive housing costs, their own spending habits and debt. 

Though the report notes that while 64 per cent of Ontario residents feel confident covering day-to-day expenses like food and housing, nearly half of those polled — 47 per cent — feel that, no matter what they do, they'll never feel financially secure. 

To gather data, RBC surveyed 1,500 members of the Angus Reid Forum across eight provinces, including Ontario, between Sept. 26 and Sept. 29, 2025.

People were asked questions like: How do you feel about your financial situation? What actions are you taking to manage your finances? What are the biggest barriers to achieving your financial goals? 

Forty-nine per cent of people also use negative adjectives like "exhausted," "anxious," and "frustrated" when asked to describe their feelings towards their financial situation.

"Financial pressures and uncertainty of the past year have challenged Canadians to reassess their financial security," says Erica Nielsen, Group Head of RBC Personal Banking. "The impact hasn't been the same for everyone, which is evident in the contrasts in how people are feeling about their finances today and their outlook for the future."

Still, many Ontario residents are taking action to improve their fiscal state. Fifty-three per cent are continuing to pay off debt, while 44 per cent are investing in a TFSA or RRSP. The poll also found that 43 per cent would live frugally today in order to be more financially secure down the road.    

For many in Ontario, the top goal is just having enough money to enjoy retirement, with 66 per cent of respondents saying it's the first priority. And 55 per cent say they just hope to have enough to travel and handle unexpected expenses.