MNP Debt Blog

Beginning around the holiday season every year, many people wonder whether they should take the leap and seek professional help with their debt.

Now in its fifteenth wave, the MNP Consumer Debt Index finds four in 10 Albertans are not confident they can cover their living expenses this year without going further into debt.

The quarterly MNP Consumer Debt Index, which is now in its fifteenth wave, finds nearly half (45%) of Quebecers are not confident they can cover their living expenses for the next year without going further into debt — a 12-point increase from September....

Now in its fifteenth wave, the MNP Consumer Debt Index has dropped to 89 points, the lowest point since it was introduced in June 2017.

More than half are likely to pile on more consumer debt before the end of the year, including one in 10 who will use buy now, pay later options.

MNP’s quarterly Consumer Debt Index consistently finds between 45 and 50 percent of Canadians are $200 or less away from insolvency at month-end.

Many Canadians may find themselves overburdened with debt due to various factors beyond their control.

For many people, the stress and uncertainty surrounding the pandemic has only served to compound existing financial difficulties. Loss of income and rising debt loads are adding to the stress and forcing individuals to look at options they never thought...

Money and possessions are how we make our way in this world. And when someone comes looking to take those things away, that threatens our way of life. Naturally, our only options are to fight, flee or freeze.

The Canadian economy has enjoyed more than 10 years of robust growth, yet only around half of Canadians are in good financial shape — and the COVID-19 pandemic certainly hasn’t improved matters.