A recent Ipsos poll conducted on behalf of MNP LTD reveals higher costs and interest rates appear to be causing an isolation phenomenon, with more than half of Atlantic Canadians saying they’re staying home more often (55%) to save money.

A recent Ipsos poll conducted on behalf of MNP LTD reveals higher costs and interest rates appear to be causing an isolation phenomenon, as half of Canadians say they’re staying home more often (51%) to save money.

According to the latest MNP Consumer Debt Index, conducted quarterly by Ipsos, nearly a third (30%) of Canadians say they have turned to bill-splitting strategies — such as carpooling, buying in bulk, sharing subscriptions, and childcare.

According to the latest MNP Consumer Debt Index, conducted quarterly by Ipsos, nearly a third (30%) of Quebecers say they’ve turned to bill-splitting strategies such as carpooling, buying in bulk, sharing subscriptions and childcare.

For people who are struggling with their debt, a Consumer Proposal can be a great option to get their finances back on track.

Student loan debt has become a significant cause of financial burden on many post-secondary students in Canada. As the cost of education continues to rise, many students leave university or college carrying the burden of debt and the repayment process.

With interest rates rising and borrowing costs remaining a challenge for households, the proportion of Quebecers who feel anxious about debt has reached an all-time high.

Everyone’s financial journey is unique. If yours looks like it may lead you down the path of working with a Licensed Insolvency Trustee to file for Bankruptcy or submit a Consumer Proposal, then a debt-free future awaits you. The sign that you’ve finished all of your payments, is an official discharge from Bankruptcy or a Certificate of Full Performance from a Consumer Proposal.

Financial advisors can help you prioritize your debt repayments based on due dates and interest rates.