Dollars and SenseNationalNews
Many Canadians $200 or Less Away From Financial Brink
Source: Anne Gaviola, globalnews.ca, March 20, 2021
This debt spike comes as emergency federal supports and loan deferral programs begin to wind down.
Financial worries have crescendoed after tapering off during most of the COVID-19 pandemic, according to accounting firm MNP’s Consumer Debt Index.
The report published Thursday found 53 per cent of respondents across Canada say they’re $200 or less away from the financial brink and not being able to pay bills and meet monthly debt obligations. That’s an increase of 10 percentage points since December 2020 and a five-year high.
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