16 Mar 2016
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

A free online test gives you an accurate portrait of your money habits and behaviours

MONTRÉAL, March 15, 2016 – Did you know that more than two out of five Quebecers say they are somewhat or very anxious about their financial situation? That one third of the population has dipped into their savings to pay for current expenses in the last two years? And that, in Quebec, one out of four people are unable to save?

These are a few of the numbers revealed in an exclusive survey recently carried out by Léger Marketing for Raymond Chabot, a subsidiary of Raymond Chabot Grant Thornton, on Quebecers’ financial habits. The survey reinforces the fact that personal finances still remain a headache for most of the population. “This survey shows that many Quebecers experience difficulty in meeting their financial obligations,” explains Éric Lebel, Partner, Trustee and Financial Turnaround Consultant at Raymond Chabot Grant Thornton. “We want to help people get a better handle on their behaviour when it comes to personal finances so they can reduce the related stress levels. This is why we’ve designed a test to start the conversation on money issues to break down the taboos about the topic.”

The survey, part of the ongoing awareness campaign, Ne perdez pas vos moyens launched in 2015 by Raymond Chabot, paints a picture of Quebecers’ financial habits and reveals:

personal finance management habits

  • attitudes and behaviours towards money
  • credit card habits, and
  • saving habits

Some points in the study warrant special attention, such as:

Two out of three people (66%) consider themselves in debt.

  • Only one out of five responders say they respect their monthly expenses budget.
  • One out of six Quebecers (14%) is not always able to pay monthly bills.
  • More than two out of five people (43%) are not always able to pay off their total credit card balance and one out of six never do.
  • Close to three out of ten Quebecers (28%) admit to regularly making compulsive purchases while a quarter frequently regret a purchase because they didn’t have the means.
  • About one in ten people spend more than half their net monthly income to pay for rent or the mortgage.
  • In the event of job loss, close to half of Quebecers (46%) don’t have a sufficient financial cushion to maintain their lifestyle for three months.
  • In Quebec, about one in four people are unable to save.

Financial gymnastics: A reality for many Quebecers

The survey also painted five different profiles of Quebecers based on their financial habits: lion tamer, magician, juggler, contortionist and daredevil. About a third (34%) of responders are magicians, flamboyant, impressive, knowing how to get attention by making spontaneous purchases, while 19% are jugglers, at times bohemian, who like to have fun, and, as long as the winds are favourable, everything is in order. An equal proportion (19%) are contortionists, all hands and feet tangled up trying to make ends meet. The other two categories, the lion tamer (16%) and the daredevil (13%) are polar opposites. Lion tamers are in perfect control, they plan each and every move carefully, while the daredevil has no fear, likes to try new things…and spends.

Raymond Chabot developed a free online test available at raymondchabot.com/en/test which enables users to discover their money-related behaviour. “We encourage all Quebecers who are stressed by their financial situation, whether because they can’t pay their debt, respect their budget or simply do the things they want, to take this test,” says Éric Lebel. “Based on their profile, they can get tailored advice that will help them adopt good financial management habits so that they won’t get in over their heads.”


The survey “Habitudes financières des Québécois” (“Quebecers’ financial habits”) was conducted from December 3 to 12, 2015, based on the responses of 1,002 Quebecers aged 18 and up who could speak French or English. The results were sorted according to gender, age, language spoken at home, education and children in the family in order to make the sampling representative of the entire population studied.

About Raymond Chabot Inc.

For more than 30 years, Raymond Chabot, a subsidiary of Raymond Chabot Grant Thornton, has specialized in insolvency and the financial turnaround of individuals and businesses. With a team of 200 professionals working in 115 offices, including one in New Brunswick, six in Ontario and 108 in Quebec, it is a leading Quebec network of financial turnaround consultants and trustees. Handling nearly 10,000 files per year, Raymond Chabot stands out through its expertise and human approach.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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Marie-José Bégin

16 Mar 2016  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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10 Mar 2016

 50th anniversary of the Beauce offices


Marie-Josée Poulin (Saint-Georges), Karine Béland (Saint-Georges), Anne Paquet (Saint-Georges), Johanne Rodrigue (Beauceville), Lyne Cloutier (Saint-Éphrem), Chantal Gravel (Sainte-Marie), Isabelle Giroux (Saint-Joseph), Patricia Vachon (Sainte-Marie) and Lynda Busque (Saint-Georges)

In this year celebrating the 50th anniversary of Raymond Chabot Grant Thornton’s presence in Beauce, we highlight our collaboration with longstanding partners, our complicity with our clients and the commitment of our employees.

In order to underline the International Women’s Day (March 8), we are proud to present you some of our female employees and professionals that contribute to the presence of our firm in the Beauce region. They work as lead senior manager, senior manager, manager, supervisor and case manager. In their own way, these women are devoted to what they are passionate about, and they are known to make a positive difference in their environment.

Perspectives of eight dynamic, diligent and devoted women on the matters of ambition, success and values.

Ambition: a matter of balance

We asked each one of these women for their own definition of the word “ambition” for women. Their answers? They all confirmed a reality that has been obvious for the last few decades, the work-family balance: “Combining a professional life and a personal life is for me the definition that best represents the ambition for women. Throughout my career at Raymond Chabot Grant Thornton, I came into contact with women that were able to brilliantly combine these two aspects and they served as models for me,” explains Lyne Cloutier, an assurance supervisor that has been working for Raymond Chabot Grant Thornton for 28 years.

For Anne Paquet, an assurance manager, the ambition for women “means having a career, delivering and being known for [your] work and knowledge. In short, it means reaching career advancement, even though [you are] a mom.” “The ambition for women involves succeeding in the various spheres of life, with the required balance,” adds Johanne Rodrigue, an assurance case manager.

“The ambition for women means eliminating barriers related to the fact that you are a woman, having the desire to surpass yourself and not being afraid of stepping out of your comfort zone,” assures Chantal Gravel, an assurance senior manager. Lynda Busque, an assurance manager, proudly adds that “all women who reach their professional goals are models for [her].” Indeed, she had the opportunity to collaborate with many of them since the beginning of her career within Raymond Chabot Grant Thornton.

Client satisfaction, a promise of success

Obviously, when reached, the balance between the requirements and responsibilities of the professional life and those of the personal life becomes the greatest success. For these women, success takes many forms. According to Patricia Vachon, an assurance manager, “having success means feeling that [you] can make a difference, whether in the life of [your] children or in that of [your] clients. To successfully make a difference, you have to be committed and attentive to the needs of others.”

“Receiving positive comments from clients or partners is also a form of success,” continues Karine Béland, an assurance manager. For example, in January, Ms. Béland received a letter from a client thanking Raymond Chabot Grant Thornton for the work carried out and highlighting her professionalism: “When I receive congratulations, I consider myself to be successful in what I do. This success enables me to value my work and provides me with the energy required to go on.”

Values of excellence

To change these women’s ambition into success, their professional and personal lives are based on values in which they firmly believe. What are those professional values and how can they help make a positive difference in the everyday life of these women? “Respect and commitment, since it is how we can establish a lasting relationship of trust,” says Patricia Vachon. For her part, Chantal Gravel recalls some of the CLEARR values that are at the heart of Raymond Chabot Grant Thornton’s corporate culture, and are, in her opinion, of major importance:

  • Collaboration: “Teamwork is important for me and respect is essential to maintain a team spirit and have a good work atmosphere;
  • Leadership: “This attitude reflects on everyone and helps maintain a good mood at work. There is nothing better to perform and enjoy working;”
  • Agility: “Paying attention to the needs of my clients and colleagues is also very important. It allows me to adjust and react promptly.”

Marie-Josée Poulin, an assurance lead senior manager, considers that regardless of the efforts the work requires, we must always remain honest, thorough and proud of the work accomplished. “Being able to carry out [your] work independently helps reach efficiency. Taking time to look for answers to [your] questions and challenging [yourself] regarding various issues is the way to develop and enhance [your] wealth of knowledge”, concludes Chantal Gravel.

Authentic sources of inspiration for all members of Raymond Chabot Grant Thornton, the women of our firm make an invaluable contribution to its growth and success. We would like to take this opportunity to thank them for their devotion.

50th Beauce

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10 Mar 2016
Éric Morin
Partner | CPA, CMA, CIRP, LIT | Recovery and reorganization

Éric Morin, Partner and Trustee at Raymond Chabot Grant Thornton, discusses the increase in insolvency cases in the area, mentioning the reasons behind this problem.

Read the article published in Le Quotidien.


16 Mar 2016  |  Written by :

Éric Morin is a partner at Raymond Chabot Grant Thornton. He is your expert in insolvency for the...

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Taxation Partner Josée Larochelle answers questions in the Association de la construction du Québec’s magazine, offering key tips for building contractors.

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