MNP Debt Blog

​Despite the fact that the Canadian economy continues to struggle, low interest rates have encouraged many Canadians to take on more debt.

With the Bank of Canada holding interest rates at record lows of just 0.5 per cent, many British Columbians are on a credit spending binge, using home equity as a means for taking on more debt.

Okanagan Edge recently covered an MNP survey surrounding financial literacy and consumer spending throughout B.C.

Given today's struggling economy, the fact that many households are grappling with the harsh realities of unemployment due to a stagnant energy sector and numerous other factors, an increase in interest rates, could push more than 30 per cent of respondents...

Pair soaring debt with a general lack of financial literacy throughout Canada and we’ve got ourselves a perfect storm.

With the Bank of Canada holding interest rates at record lows, Canadians have felt confident utilizing credit freely, despite a struggling national economy.

The Calgary Herald recently featured MNP’s Lana Gilbertson and Judy Scott discussing the state of consumer debt in B.C.

The results are in from MNP’s recent Debt Sentiment Survey. In short? Canadians are unsure about their financial futures and rising debt loads.

As Albertans struggle with mounting debt, many lack the financial literacy to integrate the changes they need to get on track – and even ahead of their debt.