MNP Consumer Debt Index: Saskatchewan and Manitoba residents experiencing financial whiplash as economic uncertainty persists

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

REGINA, SK – April 13, 2026 – Many Saskatchewan and Manitoba residents are feeling the effects of ongoing economic uncertainty as conditions continue to evolve, reshaping household behaviours. More than half (56%) say they are experiencing financial whiplash as shifting conditions repeatedly disrupt their financial plans, according to the latest MNP Consumer Debt Index. Nearly three-quarters (73%) say rising prices for essentials like food and gas are straining their finances. Two-thirds (66%) say they are cutting back on spending, and three-quarters (75%) 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 Saskatchewan and Manitoba residents view their financial progress and future plans. Nearly three in five (57%) say they feel they are working harder financially but not getting ahead. Two-thirds (67%) say they are delaying major financial decisions because of unpredictable conditions.

“Many households across Saskatchewan and Manitoba are dealing with shifting financial conditions that make it harder to plan and stay on track,” says Pamela Meger, a Licensed Insolvency Trustee with MNP LTD in Regina. “Rising everyday costs and broader global uncertainty are outside of an individual’s control, creating a sense of financial whiplash. That uncertainty can make it more difficult to manage unexpected expenses or move forward with larger financial decisions over time.”

Saskatchewan and Manitoba residents’ net personal debt rating increased slightly to 15 points (+1 pt), remaining relatively stable since last quarter. This suggests little meaningful change in how individuals in both provinces view their debt situation. One in five Saskatchewan and Manitoba residents (19%, -6 pts) say their debt situation has improved compared to a year ago, while nearly one in five (17%, -2 pts) say it has worsened. The sharper decline in those reporting improvement suggests fewer Saskatchewan and Manitoba residents have seen meaningful financial progress over the past year, even as fewer also report their situation worsening. This points to a financial environment where progress remains gradual for many households continuing to navigate an economy where financial challenges persist without a clear endpoint.

The average amount Saskatchewan and Manitoba residents have left at the end of the month has risen to $916, up from $785 last quarter. However, while some indicators have improved, financial vulnerability remains for many households. Two in five (41%, -9 pts) report being $200 or less away from financial insolvency each month. One in five (21%, -11 pts) say they do not earn enough to cover their bills and debt payments.

While the Bank of Canada’s recent decision to hold its key rate at 2.25 percent may ease distress for some Saskatchewan and Manitoba residents, about three in five (58%, -4 pts) still say they need interest rates to go down. Nearly half (48%, -6 pts) fear financial trouble if interest rates rise, and a third (34%, -13 pts) are concerned that rising interest rates could move them toward Bankruptcy. Nearly half (45%, -2 pts) remain concerned about their ability to repay their debts, even if interest rates decline. Only one in five (19%) say they could absorb an additional $130 in monthly interest payments, while three in 10 (29%) say they could not absorb this increase.

“There is still uncertainty about what comes next for many Saskatchewan and Manitoba residents, even with interest rates holding steady for now,” says Meger. “Households already managing tight budgets may have limited flexibility to absorb higher borrowing costs, particularly if economic conditions shift again.”

These financial pressures are also reflected in how Saskatchewan and Manitoba residents are approaching tax season.

One in 10 Saskatchewan and Manitoba residents (12%) say they expect to owe taxes they are unable to pay. This includes less than one in 10 (6%) who will delay paying, as they need more time to figure out how they will come up with the funds, and a similar proportion (6%) who say they will need to borrow or go into debt to meet their obligations. Fewer than one in 10 (7%) 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 test of finances for some households,” says Meger. “Some Saskatchewan and Manitoba residents may receive a refund they can use to catch up on bills or pay off debts. Others may need to rely on savings or additional credit to meet their tax obligations, which can increase long-term financial pressure.”

Meger 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.

“It can be overwhelming when finances feel uncertain or beyond your control,” says Meger. “However, it can be helpful to take a step back and reassess the situation when you find yourself relying more on credit or stretching your finances to keep up with daily expenses. There are still steps people can take to better understand their financial situation and how to manage it, regardless of what’s happening in the economy. This includes looking at what’s coming in, what’s going out, and where there may be options to ease some of the pressure.”

“Speaking with a Licensed Insolvency Trustee can help provide clarity for those feeling unsure of where to turn,” Meger says. “These conversations can provide individuals with a full picture of their financial situation in a supportive environment, where they can explore their options and move forward with a plan that reflects their unique 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.