MNP Consumer Debt Index


MNP Consumer Debt Index drops 4 points underscoring Canadians’ deteriorating financial situation

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A high debt index score is a result of Canadians feeling positive towards their personal finances, as well as confident in their ability to cope with unexpected financial situations. Whereas a low index score describes the opposite – negative feelings and low confidence.

Canadians are feeling worse about their consumer debt and personal finances than was the case just three months ago. The MNP Consumer Debt Index has fallen four points since December, signalling growing concern and deteriorating financial stability for many.

The quarterly survey, conducted by Ipsos on behalf of MNP LTD, shows more Canadians are hovering close to financial insolvency at the end of the month; nearly half (48%) of Canadians say they are $200 or less each month away from financial insolvency, an increase of two points. This includes one in four (26%) who say they have no wiggle room at month-end, as they already don’t make enough to cover their bills and debt payments.

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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.

Infographic

Debt Index Results April 2019

Press Releases


Archives


Debt Index Results January 2019


Debt Index Results October 2018


Debt Index Results July 2018


Debt Index Results May 2018


Debt Index Results April 2018


Debt Index Results January 2018


Debt Index Results November 2017


Debt Index Results October 2017


Survey Results August 2017


Survey Results July 2017


Survey Results May 2017


Survey Results April 2017


Survey Results September 2016

 

About the MNP Consumer Debt Index

The latest Index data was compiled by Ipsos on behalf of MNP LTD between March 13 and March 24. For this survey, a sample of 2,070 was interviewed online. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.4 percentage points, 19 times out of 20, had all Canadian 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.

The MNP Consumer Debt Index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses, follow a budget, 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. A high debt index score is a result of Canadians feeling positive towards their personal finances, as well as confident in their ability to cope with unexpected financial situations. Whereas a low index score describes the opposite – negative feelings and low confidence.

 


 

About MNP Debt

MNP LTD, a division of 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 230 Canadian offices from coast-to-coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt. Visit www.MNPdebt.ca to contact a Licensed Insolvency Trustee or get a free checkup for your debt health using the MNP Debt Scale.

Grant Bazian is a Licenced Insolvency Trustees, President of MNP Ltd. To learn more about how MNP Debt can help you, contact Grant at 778.374.2108 or [email protected]


Our team of Licensed Insolvency Trustees will help you explore the debt relief options available to you and together we will find the solution that best fits your situation. Set up your FREE, no obligation consultation today.

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