A recent poll conducted for CIBC shows that almost one third of Canadians do not expect to reach the financial goals they set for themselves at the beginning of the year.

The results show that 31% of those surveyed do not think they will meet their goals by the end of 2014. Respondents could give several reasons for why they think they will fail to do so, and the most frequently-cited excuse was unexpected expenses (47%), followed by not earning enough money (41%), experiencing a change in their financial situation (24%), and simply not being able to stay the course (20%).

While only 13% of those surveyed managed to meet all of their financial goals for the year, 30% indicated that they had met some of their goals and plan to meet the rest by the end of the year. 22% did not set any goals for the year at all.

"While it's encouraging to see so many Canadians setting financial goals for themselves, many will not succeed in meeting them," comments Jeff Smith, vice president of consumer deposit products at CIBC. "This is why it's so important to work with an advisor to set realistic goals based on your income, to have the discipline to stick to your plan, and to be prepared for the unexpected when life throws you a curveball."