New data finds the COVID-19 pandemic has left many Canadians struggling with the cost of living.

The affordability index by financial consulting firm BDO Canada shows nearly two in five Canadians saying their finances took a hit during the first wave, and are nearly four times more likely to say their debt load is overwhelming.

One in five Canadians say they are better off, having been able to cut back on spending and save more.

The survey found those who are saving more tend to be young, university educated and earn more than $100,000 annually.

(C.P)