With interest rates sitting at the bottom or the barrel, many British Columbians have felt free to spend as they please, dipping further and further into credit reliance in order to keep up spending habits. Pair this relaxed approach to spending with a weakened economy and unemployment rates on the rise throughout the province and we’ve found ourselves the perfect storm.
In fact, MNP’s recent Consumer Debt Sentiment survey showed 47% of British Columbians would find themselves unable to keep up with debt or other financial obligations if their monthly income was decreased by just $200. When you look at the math, even the slightest increase in interest rates could send thousands across the province into financial ruin. If you want to avoid becoming a part of what appears to be a very significant statistic – the time to put a pause on spending – is now.
Castanet Kelowna recently covered MNP’s Consumer Debt Sentiment survey in an original article originally posted online at Castanet Kelowna on September 29, 2016.
2023-11-27
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, with three in five Albertans saying they are staying home more often (59%) to save money.
2023-11-27
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, with more than half of Atlantic Canadians saying they’re staying home more often (55%) to save money. Two in five say they’re spending less time socializing (44%) to cut spending.
2023-11-27
MNP Consumer Debt Index
A recent Ipsos poll conducted on behalf of MNP LTD reveals that higher costs and interest rates appear to be causing an isolation phenomenon, with half of British Columbians saying they’re staying home more often (50%) to save money.
