New data from CIBC and RBC reveals how post-secondary students are upskilling, budgeting and tackling shared-living finances
New findings from two of Canada's big six banks suggest the post-secondary generation is approaching financial life with more intentionality than their predecessors.
Today’s students are building skills beyond their degrees, planning their budgets before the school year starts, and, in some cases, having the difficult money conversations that shared living demands.
Firstly, a new Ipsos poll conducted on behalf of CIBC surveyed 500 Canadian post-secondary students aged 18 to 25 planning to enrol full- or part-time in September 2026.
It found that two thirds are pursuing learning or skills development outside of their formal education to strengthen their career prospects.
Among that group, 30 per cent are taking online courses, 30 per cent are working on side projects, 20 per cent are pursuing professional certifications, and 16 per cent are engaged in AI-related training.
The financial pressure behind the ambition
Seventy-six per cent of CIBC poll respondents say concerns about the job market are directly influencing their education and career decisions.
Their top motivations for upskilling are improving earning potential (46 per cent) and enhancing job prospects (43 per cent), though 40 per cent also cite personal interest, suggesting this is as much about genuine engagement as it is about economic anxiety.
Sixty-six per cent of students say they have a financial plan for the upcoming school year, and the same proportion plan to invest at least some of their summer earnings.
Eighty per cent expect to work during the academic year, while 57 per cent remain concerned about covering tuition and living expenses. Despite that tension, 78 per cent are optimistic about their financial future after graduation, and the same share say they believe they are making the right financial decisions for their future today.
"Students are thinking more holistically about their future, combining education and career preparation with a growing focus on financial wellbeing," said Carissa Lucreziano, Vice-President of Financial Planning and Advice at CIBC. "Alongside their education, they are looking for practical ways to build skills that can support their career ambitions and long-term financial goals."
The roommate money problem
Meanwhile, RBC has launched a Roommate Money Guide aimed at helping students set clear financial expectations with housemates before the school year begins and addressing what the bank describes as a consistently avoided conversation, despite the fact that shared living has become the norm for millions of young Canadians.
Shared housing is now a structural feature of young Canadian financial life, not just a temporary arrangement. Statistics Canada census data cited by RBC shows that roommate households were the fastest-growing household type in Canada between 2001 and 2021, increasing by 54 per cent.
Among Canadians aged 20 to 34, living with people outside a census family was the fastest-growing living arrangement between 2016 and 2021, rising by 20 per cent.
But despite its prevalence, the financial side of shared living is often left unaddressed.
"Living with roommates isn't just about sharing a space, it's often about sharing financial responsibilities," said Lucianna Adragna, Vice-President of Client Segments, Everyday Banking at RBC. "Too often, roommates delay or avoid the money conversation because it can feel uncomfortable."
