MNP Consumer Debt Index

MNP Consumer Debt Index rebounds as Canadians take steps to safeguard their finances amid economic uncertainty

The latest MNP Consumer Debt Index has rebounded to 88 points, a nine-point increase from the previous quarter, signaling a more optimistic outlook on Canadians’ personal finances. Canadians are taking steps to safeguard their finances amid ongoing economic uncertainty, with three-quarters (74%) saying they have cut back on spending. Women (77%) and those aged 35-54 (81%) are the most likely to have reduced their spending. Nearly the same proportion of Canadians (73%) say they are delaying major purchases or investments.

“Canadians’ feelings toward their personal finances have improved following two interest rate cuts by the Bank of Canada this quarter. While uncertainty remains around U.S. tariffs, their on-again, off-again nature may be providing Canadians with some optimism for the future — especially since these tariffs have yet to make a full impact on household budgets,” says Grant Bazian, president of MNP LTD, the country’s largest insolvency firm.

Details behind MNP’s Consumer Debt Index, along with media coverage and our provincial and national news releases can be found below. To view data from previous releases of the MNP Consumer Debt Index, visit our Historical Data page.

Press Release Results for April 2025

Press Releases

• National: MNP Consumer Debt Index rebounds as Canadians take steps to safeguard their finances amid economic uncertainty
• B.C.: Nearly three-quarters of British Columbians have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Ontario: Three-quarters of Ontarians have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Saskatchewan: Nearly two-thirds of Saskatchewan and Manitoba residents have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Alberta: Nearly three-quarters of Albertans have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Nova Scotia: Three-quarters of Nova Scotians have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• New Brunswick: Three-quarters of New Brunswickers have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Newfoundland: Three-quarters of Newfoundland and Labradorians have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Prince Edward Island: Three-quarters of Prince Edward Islanders have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Manitoba: Nearly two-thirds of Manitoba and Saskatchewan residents have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
• Quebec: Nearly three-quarters of Quebecers have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty

Download the MNP Consumer Debt Index infographic.

About MNP LTD

MNP LTD, a division of the national accounting firm MNP LLP, is the largest insolvency practice in Canada. For more than 50 years, our experienced team of Licensed Insolvency Trustees and advisors have been working with individuals to help them recover from times of financial distress and regain control of their finances. With more than 240 offices from coast to coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt. Visit MNPdebt.ca to contact a Licensed Insolvency Trustee or use our free Do-it-Yourself (DIY) debt assessment tools. For regular, bite-sized insights about debt and personal finances, subscribe to the MNP 3-Minute Debt Break Podcast.

About the MNP Consumer Debt Index

The MNP Consumer Debt Index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses, and absorb interest-rate fluctuations without approaching insolvency. Conducted by Ipsos and updated quarterly, the Index is an industry-leading barometer of financial pressure or relief among Canadians.

Now in its thirty-second wave, the Index has rebounded to 88 points, up nine points since last quarter. Visit MNPdebt.ca/CDI to learn more.

The data was compiled by Ipsos on behalf of MNP LTD between March 11 and March 14, 2025. For this survey, a sample of 2,000 Canadians aged 18 years and over was interviewed. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.5 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to, coverage error and measurement error.