Rising Cost of Living Concerning Canadians

Monday, 10 July 2023 11:50

By Noelle Sinclair

New report finds many just $200 away from not being able to pay their monthly bills

The rising cost of living and higher interest rates are taking a toll on Canadians debt levels.

A new report by insolvency firm MNP finds 52 per cent of Canadians say they are 200 dollars away or less form not being able to pay all of their bills at the end of the month.

A record 48 per cent of respondents say they're concerned about their current level of debt.

Household debt has been identified as a key risk for the economy by the Bank of Canada which is scheduled to make its next interest rate decision on Wednesday.

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Rising Cost of Living Concerning Canadians

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