this post was submitted on 18 Oct 2023
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51% of Canadians $200 away from not making ends meet (www.bnnbloomberg.ca)
submitted 2 years ago by [email protected] to c/canada
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[–] Rodeo 3 points 2 years ago (1 children)

Reflecting on their current debt situation, more households rate their current situation as much worse than it was one (20%, +2 pts) and five years ago (25%, +3 pts) compared to the previous quarter (20%). Looking into the future, more believe their debt situation will worsen over the next year (18%, +3 pts) and five years from now (16%, +2 pts). Fewer also see any potential for improvement over the next five years (35%, -2 pts).

Emphasis mine.

This is just another self-reporting survey. I want to see actual data. When you cross average household debt with average household income, what does that look like?

We don't need anymore self-reporting studies.

[–] Showroom7561 2 points 2 years ago

Yeah, self-reporting sucks in most cases. It could be valuable in this case, for example, if the people self-reporting are actually money-smart and not just guessing.