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Many Canadians are not prepared for financial emergencies, a survey from Refresh Financial finds.

Almost half (49%) of respondents said they have no savings for an emergency, with 53% relying on their next paycheque. More than one-third (35%) would take out a small loan or use a credit card to deal with an emergency.

The survey found one-fifth of respondents struggling to get by, with 14% reporting a dire financial situation such as filing for bankruptcy or having something sent to collections.

Another survey for Motive Financial shows Canadians are more optimistic about their finances. The poll found 51% are saving regularly for vacations, retirement or increased costs of living.

The poll found nine of 10 respondents were optimistic about their personal goals and about saving money this year.