As the energy sector continue to spur unemployment across the country, millions of Canadians find themselves turning to credit to keep up with the cost of living.
In fact, in western Canada, debt reliance has become so significant, households throughout the Prairie provinces, 64 per cent of people living in Saskatchewan and Manitoba would be unable to keep up with financial obligations and debt payments if their monthly finances were depleted by just $200.
These statistics come from MNP’s Consumer Debt Sentiment Survey, which was conducted by Ipsos Reid on MNP’s behalf. The Saskatoon Star Phoenix published an original article on September 28, 2016.
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
