​As retailers across the province advertise massive discounts to woo shoppers through their doors on Black Friday, thousands of Ontario residents are preparing to paint their pocketbooks red with debt.

The number of consumer insolvencies per thousand residents, aged 18 years or above, decreased slightly to 2.2 in 2018.

According to a recent Ipsos poll conducted by MNP LTD., Canadians are forecasting sunnier skies ahead when it comes to their debt.

The number of consumer insolvencies per thousand residents, aged 18 years or above, increased to 3.7 in 2018, after declining for the past nine years.

The number of consumer insolvencies per thousand residents in the region, aged 18 years or above, reached 4.5 in 2018 – the highest since tracking began in 1987.

The number of consumer insolvencies per thousand residents in the Cariboo region, aged 18 years or above, decreased to 3.7 in 2017 and then again to 3.3 in 2018.

It almost seems impossible to live without a credit card these days. There are just too many situations where one is required to justify not having one.

With a continually increasing cost of living, it’s not always easy to convince yourself to part with the few extra dollars you do have on hand, in order to pay off looming debt. In the long run however, reducing (or even eliminating) your debt load – will put you on track for a far brighter future where financial freedom and long-term goals are much more attainable.

According to a recent Ipsos survey commissioned by MNP LTD., a large majority of Ontarians agree there is a lack of financial literacy amongst the public which is fueling the national consumer debt problem.

Which word is more cringeworthy to you, budget or diet? Sadly, for many of us, we view those words with the same disdain.