People living in Manitoba and Saskatchewan are more negatively impacted by their debt than the rest of the country, according to a new survey from Credit Canada.
It’s called the “Dysfunctional Debt Survey” and it shows 67 per cent of Manitoba and Saskatchewan residents with debt feel it’s impacting their lives negatively, compared to 47 per cent nationally.
Thirty five per cent of Manitobans polled said it prevents them from going out, compared to 27 per cent nationally. It also found 20 per cent of Manitoba and Sasktatchewan residents avoid social gatherings, compared to 15 per cent nationally.
The prairie provinces also lead the way with sleep loss linked to debt. Manitoba and Saskatchewan at 24 per cent versus 19 per cent nationally.
There is help for those drowning in debt, said Laurie Campbell, CEO of Credit Canada, like free debt counselling through non-profit credit counselling services.
“If you’re willing to end a relationship due to finances, why not end your relationship with debt instead? Because you really do deserve better,” said Campbell.
“There’s definitely a strong therapeutic aspect when clients come in for their first appointment. They always leave feeling relieved and like a giant weight has been lifted off their shoulders.”
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