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10 Warning Signs Of Financial Trouble

The warning signs of financial trouble are everywhere, if you know where to look. Knowing what they are and how to recognize them can be the difference between quickly recovering from one or two bad months and being trapped in a months or years-long battle with debt.

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Nearly half of Canadians doubtful they can cover living expenses this year without going into further debt, highest level in three years

The quarterly poll conducted by Ipsos on behalf of MNP LTD, finds almost half of households (45%, +6) are not confident they’ll be able to cover all living and family expenses in the next 12 months without taking on more debt.

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Nearly half of British Columbians doubtful they can cover living expenses this year without going further into debt (47%, + 9 points)

The quarterly poll conducted by Ipsos on behalf of MNP LTD finds British Columbians are the most likely (47%, +9pts since March) to say they are not confident they’ll be able to cover all living and family expenses in the next 12 months without spending on credit compared to the other provinces.

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Nearly half of Ontarians doubtful they can cover living expenses this year without going further into debt, highest since December 2019

The quarterly poll conducted by Ipsos on behalf of MNP LTD finds almost half (46%, +6pts since March) are not confident they’ll be able to cover all living and family expenses in the next 12 months without spending on credit.

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Four in 10 Saskatchewan and Manitoba residents doubtful they can cover living expenses this year without going further into debt, most since December 2019

The quarterly poll conducted by Ipsos on behalf of MNP LTD finds four in 10 (43%, unchanged since March) households are not confident they’ll be able to cover all living and family expenses in the next 12 months without spending on credit.

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Nearly half of Albertans doubtful they can cover living expenses this year without going into further debt, highest level in three years

The quarterly poll conducted by Ipsos on behalf of MNP LTD finds almost half (45%, +5pts since March) are not confident they’ll be able to cover all living and family expenses in the next 12 months without spending on credit.

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Nova Scotians feeling flush and ready to spend as concern about debt and personal finances eases post-pandemic

The MNP Consumer Debt Index finds a third (32%) say they plan to spend more than normal on things such as travel, dining, and entertainment as they re-engage with the economy.

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Atlantic Canadians’ Confidence in Personal Finances, Debt Repayment Abilities Plummets Amid Pandemic Fatigue and Uncertainty (Nova Scotia Release)

Atlantic Canadians’ confidence in their personal finances and debt repayment is noticeably shaken as uncertainty and pandemic fatigue continue to build amid the spread of the Omicron COVID-19 variant, according to the latest MNP Consumer Debt Index.

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Six in 10 (59%) Saskatchewan and Manitoba residents within $200 of financial insolvency; up 16 points since December, reaching a five-year high

Six in 10 (59%) say they are $200 or less from not being able to pay all their bills and debt obligations each month — a whopping 16-point jump from December and the highest compared to the other provinces. This includes three in 10 (31%, +10pts) who report they are already insolvent with no money left to cover their payments at month-end.

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Atlantic Canadians’ Confidence in Personal Finances, Debt Repayment Abilities Plummets Amid Pandemic Fatigue and Uncertainty (New Brunswick Release)

Atlantic Canadians’ confidence in their personal finances and debt repayment is noticeably shaken as uncertainty and pandemic fatigue continue to build amid the spread of the Omicron COVID-19 variant, according to the latest MNP Consumer Debt Index.

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