35 percent of Canadians report being 'overwhelmed' by debt

Nearly half of Canadian workers are living paycheque to paycheque on account of soaring spending and debt levels.

A new survey by the Canadian Payroll Association found 35 per cent feel overwhelmed by their level of debt.

Results from the poll indicate that the primary reason for increased debt is higher overall spending.

Of the major reasons for increased spending, 32 per cent of respondents pointed to higher living expenses while 25 per cent mentioned unexpected expenses.