Bazian said Canadians’ net personal debt rating (positive minus negative) rebounded 14 points from last quarter’s all-time low.
The proportion of Canadians just $200 or less from insolvency dropped to 43 percent (-7 points), while those already insolvent declined to 26 percent (-9 points).
Still, “four in ten Canadians report being on the brink of insolvency, and more than a quarter have no financial cushion, no flexibility, or wiggle room in their budgets. Individuals without a safety net will likely face economic hardship when faced with rising costs and housing expenses, or a potential loss of income,” Bazian said.
Half (50 percent) of Canadians say they now rely more on financial…
