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.

Everyone has different interpretations of what is reasonable when it comes to budgeting and debt. Disagreements around spending priorities, what the household can afford, and long-term financial goals is a leading source of relationship conflict and, perhaps not surprisingly the top cause of divorce in Canada.

When applying for credit, most people believe they must accept whatever interest rate a lender is willing to give them. But that’s not always the case. Beyond shopping around for competitive rates, it never hurts to ask whether a lender is flexible on interest rates.

This question comes up a lot, but it’s a difficult one to answer. While everyone loves a good benchmark, there’s never a clear-cut answer for how much debt is too much for any individual.

The latest debt index finds almost half of households are not confident they’ll be able to cover all living and family expenses in the next 12 months without taking on more debt. In fact, the proportion of Canadians who report being insolvent and unable to pay their monthly bills and debt repayments remains at the highest level recorded since the Index was created in 2017. Half say they are more concerned about their ability to repay their debts...

The most common concern for debtors contemplating a Bankruptcy is what they’ll have to give up to achieve a financial fresh start.

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

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.

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.