Debt worries up as higher interest rates and rising cost of living take a toll: MNP - BNN Bloomberg
www.bnnbloomberg.ca
A report by insolvency firm MNP says 52 per cent of Canadians say they are $200 away or less from not being able to pay all of their bills at the end of the month as higher interest rates and a rising cost of living have stretched budgets.

The report says 35 per cent of those asked say they already don’t make enough to cover their bills and debt payments, up from 30 per cent in April and a record high for the survey. It also says a record 48 per cent of those surveyed are concerned about their current level of debt.

  • gaydarless
    2·
    1 year ago

    Grim and unsurprising. My single largest non-rent expense is my grocery bill, which continues to increase with seemingly no prospect of stabilizing. I don’t know how families with children are making it right now. I suspect a lot of folks are living on cards.