There is a nationwide trend of cautious optimism when it comes to personal finances, and Albertans are also showing similar signs, according to the latest MNP Consumer Debt Index.
“Canadians by in large, are feeling better about their finances despite all of this uncertainty that’s swirling around Canada right now,” said Lindsay Burchill, vice president of consumer insolvency with MNP Ltd.
The polling, conducted by Ipsos, is done quarterly.
On Monday, it showed the index rebounding to 88 points nationally.
Of Albertans survey, 75 per cent say they are having to cut back on spending due to economic uncertainty, slightly higher than the national average of 74 per cent.
“A really big change in how Albertans are looking at their personal finances and looking ahead to maybe weathering a storm that may or may not come,” said Burchill.
In the meantime, 71 per cent in the province are delaying major purchases or investments.
The poll found 64 per cent of Albertans are concerned about rising interest rates, despite recent cuts by the Bank of Canada.
“Alberta historically has been a province that has seen lots and ups and downs,” Burchill said.
“And we don’t really see the behaviour change over a long period of time. It just really does depend on the health of the economy and the perception that people have about their own personal finances by reducing their debt, carrying costs through something like a consumer proposal settlement or through a bankruptcy, if that’s the best option for them.”
The majority of Albertans, 83 per cent, say that economic uncertainty has made them more cautious about taking on new debt.
In February, MNP says there were around 1,500 consumer insolvency filings in Alberta.
“On average, it looks like there’s about a 528 filings per month (in Calgary) that we’re seeing,” said Burchill.
“The good news is most of those are consumer proposals and not bankruptcies, which means people have a stable income. They’re able to work out a deal with their creditors through their trustee, and they’re maintaining their assets through a proposal. So, they’re coming out of the debt restructuring in a more whole position.”
The data was compiled by Ipsos on behalf of MNP between Mar 11 to14, 2025.
The national survey included a sample of 2,000 Canadians aged 18 and older.
The margin of error is =/- 2.5 percentage points, 19 times out of 20.
