MNP Debt Blog

As Canadians struggle with record-high consumer debt, employers have plenty of reason to worry.

People often come to me after months – sometimes even years of struggling with debt

As a consumer finance professional, I field a lot of questions about money. But few do I experience more often than the age old — “Should I invest in my retirement or pay off my debt?”

Dealing with the stress of unmanageable debt is exhausting.

Owing the government money can be very intimidating as it’s assumed the government has a limitless ability to collect the debt through any means necessary.

We have seen countless news reports, tweets, blogs that tell us that Canadians have more debt than ever.

At MNP, we hear this a lot: “I have a pension through work (or pension savings) and I know what I will received from Canada Pension Plan (CPP) and Old Age Security (OAS). Am I ready to retire?”

Many people dream of owning a home. But with consumer debt in Canada at an all-time high, a significant number may worry that goal is out of reach.

The goal of living debt free is certainly an admirable one and something we support wholeheartedly.

Rich, poor or somewhere in between, financial wellbeing is an integral part of everyone’s mental health.