MNP Debt Blog

With so many moving parts, it can be hard to understand your finances. You have to budget and track your spending — not to mention keep track of all the bills that automatically come out of your account each month.

The impact of inflation and higher interest rates is leaving Quebecers feeling pessimistic about their current debt situation, according to the latest MNP Consumer Debt Index.

A recent Ipsos poll conducted on behalf of MNP LTD reveals higher costs and interest rates appear to be causing an isolation phenomenon, as half of Canadians say they’re staying home more often (51%) to save money.

A recent Ipsos poll conducted on behalf of MNP LTD reveals higher costs and interest rates appear to be causing an isolation phenomenon, as two in five Quebecers say they’re staying home more often (41%) to save money.

Six in 10 (58%) are at least somewhat likely to borrow more before the end of this year, including nearly four in 10 (37%) who say they’re inclined to use a credit card that already carries a balance.

Six in 10 Quebecers likely to pile on more consumer debt before the end of the year, including one in five who will use buy now, pay later options.

Canadians are becoming acutely aware of how interest rates and the cost of necessities impact their household budgets, as both measures continue on a months-long upward trajectory.

Quebecers are becoming acutely aware of how interest rates and the cost of necessities impact their household budgets, as both continue on a months-long upward trajectory.

Canadians’ current debt perception has reached an all-time low as t he latest MNP Consumer Debt Index drop s to 83 points — a decrease of three points from the last quarter .

As another Bank of Canada interest rate announcement looms, a recent poll conducted by Ipsos on behalf of MNP LTD finds that eight in 10 Quebecers (82%, +2pts) agree they will be more careful with how they spend their money as borrowing costs rise, increasing...