this post was submitted on 27 Nov 2023
53 points (98.2% liked)

Canada

7595 readers
889 users here now

What's going on Canada?



Related Communities


๐Ÿ Meta


๐Ÿ—บ๏ธ Provinces / Territories


๐Ÿ™๏ธ Cities / Local Communities

Sorted alphabetically by city name.


๐Ÿ’ SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


๐Ÿ’ป Schools / Universities

Sorted by province, then by total full-time enrolment.


๐Ÿ’ต Finance, Shopping, Sales


๐Ÿ—ฃ๏ธ Politics


๐Ÿ Social / Culture


Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

Half of the people polled by Ipsos for the MNP survey say that to save money they are staying home more often and a third are socializing less. This is especially evident in younger Canadians and those with an income of less than $40,000, the survey said.

But wait, it gets worse:

Nearly half of respondents say they donโ€™t believe they will be able to cover their living expenses over the next 12 months without going further into debt, up two percentage points from the previous quarter.

I'm guessing some of this debt includes student loans and car loans:

Credit card balances hit a record high of $107.4 billion in the second quarter, with average non-mortgage debt for consumers rising to $21,131, according to Equifax Canada

I'm always suspicious of this kind of poll. Every year or two we seem to get a poll saying our financial health is abysmal, but time passes and the rate of bankruptcies/insolvencies stays around the same. I guess this one is different because of the increasing cost of living.

you are viewing a single comment's thread
view the rest of the comments
[โ€“] MondayToFriday 3 points 1 year ago (1 children)

The insidious thing about inflation is that many measures that would lessen the pain would also exacerbate the inflation itself.

[โ€“] grte 5 points 1 year ago* (last edited 1 year ago)

I imagine the 3 trillion dollar bailout the US pumped into the market when it crashed in 2020 that no one seems to remember or talk about has more to do with inflation than anything Canada did.