MNP Consumer Debt Index

MNP Consumer Debt Index holds steady following two interest rate pauses as Canadians brace for ongoing economic uncertainty

The latest MNP Consumer Debt Index has remained stable at 88 points this quarter. However, nearly two-thirds of Canadians say they desperately need interest rates to go down, relatively consistent since last quarter (64%, +1 pt). Despite the Index stabilizing, the cost of living and ongoing economic uncertainty continue to weigh on households. More than a third (36%) of Canadians report feeling anxious or stressed about their financial situation. A quarter say they feel like they’re having to put their life on hold (26%) or are constantly putting out financial fires as they face one unexpected cost after another (24%).

“Canadians have not witnessed such economic uncertainty since the COVID-19 pandemic. While financial perceptions have somewhat stabilized, many households feel like their lives are on hold, stuck in a financial holding pattern as they wait for the proverbial dust to settle,” says Grant Bazian, president of MNP LTD, the country’s largest insolvency firm. “Many Canadians are hesitant to make major financial or life decisions due to persistent economic pressures and a backdrop of global volatility.”

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 July 2025

Press Releases

• National: MNP Consumer Debt Index holds steady following two interest rate pauses as Canadians brace for ongoing economic uncertainty
• B.C.: British Columbians report record-high concern over debt repayment amid cost-of-living struggles and ongoing economic uncertainty
• Ontario: More Ontarians are $200 or less away each month from financial insolvency amid ongoing economic uncertainty
• Saskatchewan: Half of Saskatchewan and Manitoba residents concerned about debt repayment even if rates decline, following two interest rate pauses, as they brace for ongoing economic uncertainty
• Alberta:  Nearly half of Albertans are $200 or less away from financial insolvency each month, more than any other province, amid ongoing economic uncertainty
• Nova Scotia: Nova Scotians most concerned about their current debt level among all provinces amid ongoing economic uncertainty
• New Brunswick: New Brunswickers most concerned about their current debt level among all provinces amid ongoing economic uncertainty
• Newfoundland: Newfoundland and Labradorians most concerned about their current debt level among all provinces amid ongoing economic uncertainty
• Prince Edward Island: Prince Edward Islanders most concerned about their current debt level among all provinces amid ongoing economic uncertainty
• Manitoba: Half of Manitoba and Saskatchewan residents concerned about debt repayment even if rates decline, following two interest rate pauses, as they brace for ongoing economic uncertainty
• Quebec: Nearly half of Quebecers regret their debt as life plans stall and financial anxieties take hold amid ongoing 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-third wave, the Index has held firm at 88 points — the same level as last quarter. Visit MNPdebt.ca/CDI to learn more.

The data was compiled by Ipsos on behalf of MNP LTD between June 9 and June 13, 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.