MNP Consumer Debt Index: Albertans experiencing financial whiplash as economic uncertainty persists

More than three-quarters say rising food and gas prices are straining their finances.

CALGARY, AB – April 13, 2026 – Many Albertans are feeling the effects of ongoing economic uncertainty as conditions continue to evolve, reshaping household behaviours. Three in five (59%) say they are experiencing financial whiplash as shifting conditions repeatedly disrupt their financial plans, according to the latest MNP Consumer Debt Index. More than three-quarters (77%) say rising prices for essentials like food and gas are straining their finances. Nearly three-quarters (73%) say they are cutting back on spending, and more than four in five (84%) are more cautious about taking on new debt as ongoing cost pressures and uncertainty drive conservative financial decision-making.

These pressures are also shaping how Albertans view their financial progress and future plans. Nearly two-thirds (63%) say they feel they are working harder financially but not getting ahead. Seven in 10 (70%) say they are delaying major financial decisions because of unpredictable conditions.

“Financial conditions are difficult to anticipate for many Albertans,” says Vicky Samuels, a Licensed Insolvency Trustee with Alberta-based MNP LTD. “Changing costs and economic signals can disrupt how people plan and manage their money. This sense of financial whiplash can make it harder to stay on track, particularly when everyday expenses remain high and largely outside of an individual’s control.”

Albertans’ net personal debt rating increased to 26 points (+3 pts), marking a slight shift in how individuals in the province perceive their debt situation. However, this modest shift in sentiment does not necessarily mean underlying financial pressures have eased. Many households continue to navigate an economy, where financial challenges persist without a clear endpoint.

One in five Albertans (20%, -4 pts) say their debt situation has improved compared to a year ago, while nearly one in five (16%, +2 pts) say it has worsened. This points to continued strain on household finances as fewer Albertans report improvement, while a growing share say their situation has worsened. Concerns about job security remain elevated, with nearly a third (31%, -2 pts) fearing job loss in their household.

The average amount Albertans have left at the end of the month has dropped to $1,053, down from $1,119 last quarter. This suggests a decline in overall financial flexibility, which is reflected in rising financial vulnerability. More than two in five Albertans (42%, +1 pt) report being $200 or less away from financial insolvency each month. A quarter (26%) say they do not earn enough to cover their bills and debt payments, a five-point increase since last quarter.

While the Bank of Canada’s recent decision to hold its key rate at 2.25 percent may ease distress for some Albertans, more than half (56%, -9 pts) still say they need interest rates to go down. Nearly half (45%, -4 pts) fear financial trouble if interest rates rise, and more than a third (36%, -5 pts) are concerned rising interest rates could move them toward Bankruptcy. A similar proportion (36%, -10 pts) remain concerned about their ability to repay their debts, even if interest rates decline. Only one in five (21%) say they could absorb an additional $130 in monthly interest payments, while nearly a third (30%) say they could not absorb this increase.

“Many Albertans remain uncertain about where things may go next, even with interest rates holding steady for now and concerns about borrowing costs easing slightly,” says Samuels. “Those already managing tight budgets may have limited flexibility to absorb higher borrowing costs or maintain current payments if conditions shift again.”

These financial pressures are also reflected in how Albertans are approaching tax season.

More than one in 10 Albertans (12%) say they expect to owe taxes they are unable to pay. This includes one in 10 (10%) who say they will need to borrow or go into debt to meet their obligations, and a proportion (2%) who will delay paying, as they need more time to figure out how they will come up with the funds. Nearly one in 10 (9%) say they expect to owe taxes and will need to dip into savings or money set aside for other purposes to pay these taxes.

“Tax season can be a useful snapshot of financial health,” says Samuels. “Some Albertans may be in a position to use a refund to reduce debt or catch up on expenses. Others may need to rely on savings or additional credit to meet what they owe for taxes, which can create added pressure in the months ahead.”

Samuels says that turning to additional debt to cover expenses and obligations can be an early sign that financial pressures are increasing, and that it may be time to review your financial situation.

“Financial pressure doesn’t always show up all at once. It often builds over time,” says Samuels. “It can be helpful to take a closer look at your financial situation if you find yourself relying more on credit or making ongoing trade-offs to stay on top of expenses. Taking that step can help bring greater understanding and highlight options to regain a sense of stability, no matter what’s happening in the economy.”

“Speaking with a Licensed Insolvency Trustee can help provide clarity for those who feel uncertain about what to do next,” Samuels says. “These conversations can help individuals understand their full financial situation in a supportive, unbiased environment and outline available options, so they can make informed decisions based on their circumstances.”

Licensed Insolvency Trustees are the only federally regulated debt professionals in Canada who can assist with all the debt relief options, including Consumer Proposals and Bankruptcy, stop harassment from debt collectors, and discharge people from debt. They work with individuals to understand their unique circumstances and explore a range of solutions, from adjusting payment plans and negotiating with creditors to formal debt relief options.

MNP’s national team of Licensed Insolvency Trustees offers free consultations across the country to help severely indebted Canadians get unbiased debt advice, understand their rights, and determine the best path forward.

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-sixth wave, the Index remains at 87 points, unchanged from last quarter. Visit MNPdebt.ca/CDI to learn more.

The data was compiled by Ipsos on behalf of MNP LTD between March 10 and March 11, 2026. 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 ±2.7 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.