Albertans Feel The Pinch Of Overwhelming Consumer Debt

2016-09-29   minute read

Grant Bazian

MNP Consumer Debt Index

View of Calgary skyline at sunset

MNP’s Consumer Debt Sentiment survey shows more than half of Albertans are barely making ends meet, with many having to rely on credit to make it from one payment to the next. In fact, 58 per cent of people across the province are left with just $200 / month once their bills are paid. A staggering increase of 18 per cent since February of this year. While consumer debt is at a record high, many are still spending well beyond their means in hopes that the recession will turn itself around in the near future. While optimism is something to be endeared, over spending paired with increased unemployment and an uncertain global economy, the time for conservative spending – is now.

The MNP Consumer Debt Sentiment Survey was conducted on behalf of MNP by Ipsos Reid. CTV News Calgary recently covered the survey in a video originally posted online at CTV News Calgary on September 29, 2016.

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