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Paying down debt remains top financial priority of Canadians: CIBC poll

TORONTO - Paying down debt remains the top financial priority of Canadians, although a new poll says slightly fewer made it their top pick this year compared with the last couple of years.

The poll, conducted for CIBC (TSX:CM) by Harris/Decima, found that overall 16 per cent of respondents said lowering debt was their No. 1 priority for 2014.

That was down one percentage point from 17 per cent in 2013 and 2012.

However, it was five percentage points better than the 11 per cent who said they would focus on building savings, up slightly from 10 per cent over the last several years.

Next in order of importance were managing day-to-day spending and getting current bills paid, both selected by eight per cent of respondents.

Retirement planning was the top focus of seven per cent surveyed, the same as last year but down from 11 per cent in 2012.

The Canadian Press

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