Equifax Canada said that young Canadians are more concerned about their personal debts and are more likely to miss a bill payment this year.

In a survey conducted in September, the agency said that 36 percent of younger adults reported that they had missed a bill payment this year, compared to 23 percent overall.

Meanwhile, 52% of those surveyed aged 18 to 34 feel worried about their personal debts, compared to 39% overall.

Equifax Canada also said that housing is a major concern for Canadians, with three in ten participants saying they had to look for additional income to cover high mortgage or rent payments.

About 20 percent said they are in a financially risky position and may need to move due to affordability issues.

The survey found that younger Canadians are more likely to seek second or third jobs or "side gigs" in order to meet their financial obligations.