2025-04-14
Three quarters of New Brunswickers have cut spending or postponed major purchases
MNP Consumer Debt Index
Three-quarters (76%) say they have cut back on spending due to economic uncertainty — more than those in any other province.
Calgary, AB – As the nation awaits the Bank of Canada’s next announcement on interest rates, Albertans’ appetite for cheap credit is being highlighted by a new Ipsos survey conducted on behalf of MNP Debt. Nearly three in ten Albertans say that the current low interest-rate environment has caused them to take on more debt than they otherwise would have.
While some blame low interest rates for their borrowing binge, the survey revealed that one in three Albertans will be comfortable increasing their debt load even more if interest rates go down. More than half say they will be more comfortable with their debt load if interest rates decrease.
Calgary-based Donna Carson, a Licensed Insolvency Trustee with MNP Debt, is stepping up her warnings to Calgarians about taking on more debt.
“Don’t borrow what is accessible. Only borrow what you know you can afford even when rates go up,” says Carson.
One in four survey respondents say that their borrowing capacity has grown in the last year and within this group, one in three say that they are more free with their spending as a result.
“The results show a care-free attitude toward borrowing and spending. Those who are subsidizing their income with credit are in a precarious position,” warns Carson. “Consumers must start paying down debt now while interest rates are low. It will get more expensive – and for some it will be unaffordable – when interest rates rise.”
The survey underscored Albertans’ vulnerability to interest rate increases with more than half of respondents indicating that they will be more concerned about their ability to pay their debts if rates go up. Four in ten say they are concerned that rising interest rates could move them towards bankruptcy.
Other key poll highlights include:
MNP Debt, a division of MNP LLP, is one of the largest personal insolvency practices in Canada. For more than 50 years, our experienced team of Licensed Insolvency Trustees and advisors have been working collaboratively with individuals to help them recover from times of financial distress and regain control of their finances. With more than 200 Canadian offices from coast-to-coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt. Visit www.MNPdebt.ca to learn more.
These are some of the findings of an Ipsos poll conducted on behalf of MNP Debt between March 27 and March 30, 2017. For this survey, a sample of 1,500 Canadians from Ipsos' online panel was interviewed online. 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 +/ - 2.9 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.
2025-04-14
MNP Consumer Debt Index
Three-quarters (76%) say they have cut back on spending due to economic uncertainty — more than those in any other province.
2025-04-14
MNP Consumer Debt Index
Nearly three-quarters (73%) say they have cut back on spending due to economic uncertainty, and nearly as many (70%) say they are delaying major purchases or investments, according to the latest MNP Consumer Debt Index.
2025-04-14
MNP Consumer Debt Index
Nearly three-quarters say they have cut back on spending (74%) and are delaying major purchases or investments (75%), according to the latest MNP Consumer Debt Index.