Alberta leads the country in people reporting financial stress, cautious spending

CTV News

5 days ago

The latest MNP Consumer Debt Index suggest nearly half of Albertans are $200 or less away from financial insolvency. (File)
Albertans are more likely than any other province to report feeling stressed about their finances, according to a new report.
The latest MNP Consumer Debt Index shows 41 per cent of Albertans polled say they feel anxious about their financial situation.
The report shows two-in-five Albertans are concerned rising interest rates could drive them toward bankruptcy.
That same amount are also feeling more cautious with how they manage their money due to current financial pressures; Alberta tops the list in this category.
Nearly half of Albertans (47 per cent) say they are $200 or less away from financial insolvency, which is up slightly from the last report.
Significantly more Albertans this quarter are concerned about interest rates, with nearly two-in-five concerned rising interest rates could drive them toward bankruptcy
Even if rates do go down, many Albertans (46 per cent) remain concerned about their ability to repay debt.
This survey was conducted by Ipsos and included interviews with 2,003 Canadian adults conducted between June 9 to June 13.
The results are accurate to within +2.5 percentage points, 19 times out of 20.