Nearly one half (48%) of Canadians are $200 or less per month away from not being able to meet all of their bills or debt obligations each month. This includes 26% who say they don’t make enough money to cover their bills and debt payments, according to a recent Ipsos poll.
The percentage that responded they don’t make enough to cover their bills and debts:
Ontario (29%) and Quebec (29%)
Atlantic Canada (24%)
British Columbia (19%)
Saskatchewan and Manitoba (17%)
The average Canadian with debt says it will take approximately 7 years before they are debt free.
15% believe that they will never be debt-free.
Four in ten regret the amount of debt they’ve taken on during their life.