As Household Debt Continues To Rise How Are We Going To Pay For It

2016-04-25   minute read

Grant Bazian

MNP Consumer Debt Index

​ With a weakened loonie and job losses on the rise, many are struggling to keep up with monthly expenses. In fact, according to a poll conducted with MNP, nearly 50% of Canadians are within just $200 of not being able to meet their financial obligations. Yet, we’re still spending at an accelerated rate. It is predicted that by the end of the year, Canada will hit its highest household debt ratio since the 1990s. The question is, how are we going to pay for this debt? MNP LTD Trustee Grant Bazian and MNP Ltd.'s Ipsos-Reid poll were incorporated into a story by the Financial Post to discuss the increase in insolvencies. The original article was originally posted online atFinancial Post on April 5, 2016. ​​ ​​

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