Canadians worried about paying bills and debt

Photographer: Michal Jarmoluk

Photographer: Michal Jarmoluk


“Canadians are feeling increasingly worried about their personal debt, with an increasing number close to being unable to pay the bills every month as higher interest rates start to make an impact, a new Ipsos survey suggests,” wrote Rajeshni Naidu-Ghelani for CBC News on January 16, 2018.

Naidu-Ghelani continued, “More than a third of the over 2,000 respondents to an online survey done for the MNP Debt Index said they have no money left at the end of the month after paying bills and are unable to cover their payments.

In the online survey, conducted by Ipsos in December for insolvency trustee MNP Ltd., nearly half of the Canadians surveyed — 48 per cent — said they are now $200 or less away from not being able to meet their monthly financial obligations.

The 48 per cent figure is eight points higher than the same survey in September.

Because it was an online poll, the MNP survey applied various quotas and weighting factors to the results, to ensure that the sample’s composition reflects the overall population according to census information. But because it was compiled online, it is not randomized — and as such does not have a margin of error that can be expressed like it can be in randomized telephone or in-person polls.”

Read the full article here. 

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