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Four out of 10 Albertans say they are $ 200 or less away from going bankrupt by the end of the month. Nearly half (46 percent) in Alberts say they are concerned about their current debt level. That number has fallen slightly since June, when it hit a three-year high of 48 percent.
More than half (51 per cent) of Albertans are worried about the debt they have incurred. That number has risen six percent since June.
Laundry says there are solutions for people who think they are in their head when it comes to debt. Budgeting, refinancing, debt consolidation and credit counseling can all help and prevent people from going bankrupt, which is a viable option in some situations.
The MNP Consumer Credit Index is maintained by Ipsos and updated quarterly. The survey sampled 2,001 Canadians aged 18 and over and scored an accurate plus or minus 2.5 percentage points 19 times out of 20.
Another survey of 1,000 shoppers conducted by PWC Canada found that Canadians spend an average of about $ 500 less this Christmas than last.
This year 86 per cent were found to spend the same or less for Christmas, and 57 per cent said the pandemic had a negative or slightly negative impact on how much they would like to spend.
The survey also looked at shopping habits and surprisingly more people are planning to use online shopping and curbside pickup. About a third of those who say they plan to shop in stores are 60 percent 55 or older.