Only 51 per cent of homeowners are confident they will be debt-free at retirement, even though 83 per cent feel it’s important to meet that goal by then, according to a new survey by Waterloo, Ont.-based Manulife Bank of Canada.

In a sign that a growing number of Canadians are concerned about rising household indebtedness, only 43 per cent of homeowners say they are happy with how they’ve managed their debt and day-to-day finances over the past year. That’s down slightly from two years ago, when 46 per cent expressed satisfaction.

Younger homeowners appear to be worst off, with fewer than four in 10 aged 30-39 indicating satisfaction with their debt management over the past year, compared to nearly five in 10 for those aged 50-59.

The survey also found that nearly one in three respondents are “very unhappy” with how they’ve managed their debt and day to day finances over the past year, up slightly from the third quarter of 2011.

Consistent with past surveys, more than three quarters of homeowners rate debt-freedom as being among their top financial priorities.

When asked to indicate what strategies they use to manage their debt effectively, two-thirds of respondents say that they always pay their credit card balance in full — an increase of 9 per cent from two years ago.

Other commonly used strategies include “make extra payments on my debts” (61 per cent) and “create a written budget to track and manage my spending” (43 per cent).

Among the debt management strategies less frequently used — just one in three have consolidated their debt at a single low rate and fewer than one in four get debt management advice from a financial advisor.

Interestingly, those who do get debt management advice from a financial advisor are more likely to take advantage of these strategies. In fact, 80 per cent of homeowners who work with an advisor pay their credit card balance in full each month, compared to 64 per cent of those who don’t seek advice. Similarly, those who work with an advisor are more likely to make extra payments on their debts and create a written budget.

The poll surveyed 2,132 Canadian homeowners in all provinces between ages 30 to 59 with household income of more than $50,000. The survey was conducted online by Research House between September 10-20, 2013. National results were weighted by province and gender.