Half of Canadians are $200 or less away from being unable to cover their monthly bills and debt payments, according to MNP Ltd.'s quarterly report on consumer debt.
Half of Canadians are $200 or less away from being unable to cover their monthly bills and debt payments, according to MNP Ltd.'s quarterly report on consumer debt.
MNP's Consumer Debt Index, which measures Canadians' attitudes toward their debt and their ability to pay their bills, dropped to the second-lowest level since it began tracking in 2017. Meanwhile, Canadians' personal debt rating hit an all-time low. A third of respondents said they are insolvent, with women more likely than men to be $200 or less away from insolvency."Canada is one of the highest of all the Western nations in the world for the debt ratio ...
Bazian said people's perception of their financial situation is usually based on what's immediately pressuring them.While economic indicators or interest rate changes take a bit of time to show their effects in daily life, Bazian said they can still also affect consumers' perceptions of how they are faring financially.
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