MNP Consumer Debt Index shows Saskatchewan and Manitoba residents are bracing for a challenging 2026

Many Saskatchewan and Manitoba residents anticipate higher living costs (72%), rising housing pressure (56%), worsening economy (53%), and interest rate and inflation strain (53%).

REGINA, SK – January 12, 2026 – Saskatchewan and Manitoba residents are bracing for rising financial challenges in 2026, with seven in 10 (72%) expecting the cost of living to worsen. According to the latest MNP Consumer Debt Index, this pessimism extends well beyond prices, reflecting a broader sense that economic conditions will deteriorate.

“There is a widespread expectation across Saskatchewan and Manitoba that household finances will face added strain in the coming year, increasing concern about economic security,” says Pamela Meger, a Licensed Insolvency Trustee with MNP LTD in Regina. “Many expect mounting pressure across everyday expenses in 2026 rather than improvement.”

More than half of Saskatchewan and Manitoba residents believe the economy overall will worsen (53%) this year and even more expect housing affordability to deteriorate (56%). Saskatchewan and Manitoba residents also expect rising pressure from interest rates and inflation (53%), unemployment and the job market (46%), and Canada’s relationship with the U.S. (55%). Three in five anticipate higher taxes (61%) — more than those in the other provinces. Additionally, approximately half expect transportation (53%) and healthcare costs (45%) to worsen. Six in 10 also express concerns about rising poverty and inequality (61%) as well as worsening government deficit and debt (63%).

Data shows few signs that household finances are improving as Saskatchewan and Manitoba residents remain pessimistic about the year ahead. Saskatchewan and Manitoba residents are more likely than those in any other province (50%) to report being $200 or less away from financial insolvency each month, up seven points from last quarter. While the average amount Saskatchewan and Manitoba residents have left after monthly expenses has risen to $785, up $35 since last quarter, this was the smallest increase among all the provinces. Significantly fewer Saskatchewan and Manitoba residents (49%) report having six months of emergency savings, dropping 10 points this quarter — leaving many households vulnerable to disruption.

“Ongoing financial strain is driving both action and disengagement across the region,” says Meger. “How people respond to financial stress often depends on whether they feel they have any flexibility at all. Those with modest breathing room may make adjustments to their budget and seek solutions. Continued economic uncertainty and tight household budgets reinforce avoidance behaviours for those with less flexibility.”

Saskatchewan and Manitoba residents are responding in markedly different ways as financial pressures intensify. More than half (54%) are adopting a fight mentality, taking proactive steps such as adjusting their budgets (39%), attempting to consolidate debt (12%), or seeking advice from a financial professional (10%). However, a third of Saskatchewan and Manitoba residents (31%) are taking a flight response, which includes avoiding thinking about their financial responsibilities (11%), steering clear of financial discussions with family or professionals (19%), or relying on credit to cover essential expenses (13%). More than one in 10 (15%) say they feel financially frozen, unsure where to begin when facing financial stress.

“Financial flight behaviour can create a misleading sense of temporary relief, particularly when people believe their situation may be improving,” says Meger. “Avoiding bills, conversations about money, or leaning more heavily on credit may reduce stress in the short term, but those behaviours often allow financial problems to worsen quietly. This can make it harder to regain control down the road.”

Interest rates remain a critical source of stress for Saskatchewan and Manitoba residents, despite the Bank of Canada holding its last policy interest rate at 2.25 percent. Nearly two in three (62%, unchanged) say they desperately need interest rates to go down. Almost half (47%) remain concerned about their ability to repay their debts, increasing a significant nine points since last quarter. The same proportion (47%) say they are concerned rising interest rates could drive them toward Bankruptcy — jumping 18 points this quarter, the largest increase by far among all the provinces.

“Confidence about the year ahead remains fragile for Saskatchewan and Manitoba residents, particularly those carrying higher levels of debt,” says Meger. “Heightened sensitivity to interest rates and growing concerns about debt repayment leave very little room for error as households look toward 2026.”

Relatively few Saskatchewan and Manitoba residents are turning to professional support when facing financial stress, despite widespread concerns about costs, debt, and the year ahead. One in 10 (10%) says they have sought advice from a professional as part of their efforts to fight back against financial strain. 

These findings echo a recent joint consumer alert from the Office of the Superintendent of Bankruptcy (OSB) and the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). This alert highlighted how stress and stigma can prevent Canadians from asking for help and delay access to guidance from Licensed Insolvency Trustees.

“Too many individuals are still trying to manage financial stress on their own,” says Meger. “Licensed Insolvency Trustees are regulated professionals who can help Saskatchewan and Manitoba residents gain clarity on their debt relief options, make informed decisions, and prevent financial strain from becoming more severe.”

Licensed Insolvency Trustees are the only federally regulated 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.

“Many people may not realize that not all debt advice is reliable,” says Meger. “Financial stress can make people more susceptible to misinformation or quick-fix promises to their debt problems. Turning to a federally regulated professional such as a Licensed Insolvency Trustee helps ensure Saskatchewan and Manitoba residents receive objective guidance that reflects their unique financial circumstances.”

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-fifth wave, the Index has increased to 87 points, up one point from last quarter. Visit MNPdebt.ca/CDI to learn more.

The data was compiled by Ipsos on behalf of MNP LTD between November 28 and December 1, 2025. For this survey, a sample of 2,001 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.