It doesn’t matter if you’re a Baby Boomer, Gen X, millennial or Gen-Z, stretching your pay cheque and saving for the future can be a challenge.

A recent survey by the National Payroll Institute breaks down workers into three categories - financially stressed, financially coping or financially comfortable.

Steven Van Alstine, the V-P of Professional Standards and Education at the institute, shares how these categories are determined.

“The classification is based on spending, savings, debt, ability to manage pay, if your pay was delayed and those kinds of things. This year’s analysis showed that fewer Canadians are feeling financially stressed, which is a good thing, and obviously if they are less stressed, they are either moving into that coping or comfortable category.”

Survey results showed that this year only 36 per cent fell into the financially stressed category, a drop of 5 per cent from last year.

Gen-Z participants, according to Van Alstine, are being financially proactive by saving more and paying down debt.

He said part of their ability to save more is that many of them aren’t homeowners trying to make mortgage payments.

Learn more about the payroll survey and the National Payroll Institute.  Tune in to Thompson Today at 12:40 and 5:10 this afternoon.