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MNP Debt Blog

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MNP Consumer Debt Index: January 2020 Results Summary

Now in its eleventh wave, the MNP Consumer Debt Index has dropped five points since September (96 points), matching the lowest ever recorded back in March 2018.

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The global crisis surrounding COVID-19 has presented an unprecedented financial shock for Saskatchewan and Manitoba residents at a time when personal finances are already a source of stress for many.

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The global crisis surrounding COVID-19 has delivered an unprecedented financial shock to Atlantic Canadians at a time when personal finances are already a source of stress for many.

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The global crisis surrounding COVID-19 has presented an unprecedented financial shock for Manitoba and Saskatchewan residents at a time when personal finances are already a source of stress for many.

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The global crisis surrounding COVID-19 has delivered an unprecedented financial shock to British Columbians at a time when personal finances are already a source of stress for many.

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Unemployment in the age of COVID-19

According to Government of Canada figures, upwards of five million Canadians have applied for COVID-19-related income loss support since measures were announced in March.

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The global crisis surrounding COVID-19 has delivered an unprecedented financial shock to Quebec residents at a time when personal finances are already a source of stress for many.

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The global crisis surrounding COVID-19 has delivered an unprecedented financial shock to Canadians at a time when personal finances were are already a source of stress for many.

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Should I be using my credit card for big purchases?

Like many of the topics we tackle at MNP, the unfortunate answer here is it depends on why you want to use your credit card and what your plan is to pay it off.

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The effects of debt can vary from person to person. You might worry over a $1,000 credit card debt, while your friend might not give a second thought until it’s in the tens of thousands.

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