Canadians Still Concerned About Finances

Personal finances continue to be a major source of stress for Canadians and half anticipate that the situation will continue to deteriorate, says the quarterly ‘MNP Consumer Debt Index’ by Ipsos. When asked about the impact of the current economic conditions in Canada on their personal finances, half say they believe that the worst is yet to come, while one-third feel that we are currently experiencing the worst part of the economic cycle. Fewer are optimistic about the future with only 15 per cent stating that the worst is behind us. While the number of insolvent Canadians remains consistent, the average amount of money households have left over at the end of the month has dropped slightly to $787, down $64 from the previous quarter.