Manitoba and Saskatchewan residents’ confidence in their personal finances has plummeted as uncertainty and pandemic fatigue continue to build amid the spread of the COVID-19.

More than half (52%) say they are $200 or less away from not being able to meet all of their bills and debt obligations each month, a whopping 10-point jump from December. This includes three in 10 (31%, +6pts) who report they are already insolvent with no money left to cover their payments at month-end.

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.

Quebecers report waning confidence in their personal finances as uncertainty and pandemic fatigue continue to build amid the spread of the Omicron COVID-19 variant, according to the MNP Consumer Debt Index.

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.

The enduring financial impacts of COVID-19 coupled with the pressures of rising interest rates and a higher cost of living are weighing down Canadians’ confidence in their personal finances, according to the MNP Consumer Debt Index which is conducted quarterly by Ipsos on behalf of MNP LTD.

The latest MNP Consumer Debt Index points to debt trouble in Atlantic Canada, particularly as payment deferrals and government emergency aid programs change or wind down.