Tuesday, April 19, 2022

$200 AWAY FROM INSOLVENCY

As the cost of living becomes more expensive, half of Canadians indicate that they are only $200 away from being unable to pay their bills.

According to an Ipsos survey conducted for the professional service firm MNP, 49% of Canadians surveyed are within $200 of insolvency. Further, 31% of respondents said they are unable to cover their bills because they don’t earn enough income.

Two thousand Canadian adults were surveyed by Ipsos from March 9-15 – a week prior to the Bank of Canada’s (BOC) decision to raise its central rate for the first time since 2018.

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