--- title: How much debt is normal in your province? date: 2026-01-06T13:59:00-05:00 canonical_url: "https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-how-much-debt-is-normal-in-your-province" section: Articles --- [ Back to the hub ](https://grantthorntonlimited.ca/en/debt-help-resources/articles) # How much debt is normal in your province? ![Collage of Canadian landmarks: Lake Louise in Banff with turquoise water and mountains, Peggy’s Cove lighthouse on rocky shore in Nova Scotia, Toronto skyline with CN Tower, and Confederation Bridge over ocean at sunset.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleHero/49727/how-much-debt-is-normal-for-your-province-SQUARE.webp) Having debt is a reality for most Canadians—whether it’s student loans, credit cards, or car payments. But can the province you live in impact the amount of debt you have? In this article, we explore debt by province and how each region stacks up compared to the rest of Canada. According to Equifax, the average Canadian owes just shy of $22,000 in non-mortgage debt. But that number doesn’t tell the whole story. Where you live can have a big impact on how much debt you carry and why. From groceries to rent, insurance to income, the cost of living varies widely across Canada. Comparing yourself to others can help you spot financial red flags—but remember, your situation is unique. Below, we break down what debt looks like in each province, why people are struggling, and what you can do about it. Here’s a quick look at average debt and delinquency rates by province for the first quarter of 2025: Province Average debt Delinquency rate Ontario $22,543 1.73% Nova Scotia $21,296 1.68% New Brunswick $21,490 1.77% PEI $23,707 1.19% Newfoundland $24,770 1.56% Alberta $24,398 1.97% Manitoba $18,171 1.72% Saskatchewan $23,194 1.82% British Columbia $22,631 1.40% Canada (avg) $21,859 1.60% *Source:* [Q1 2025 \| Equifax Canada Market Pulse Quarterly Consumer Credit Trends](https://assets.equifax.com/assets/canada/english/consumer-trends-report-2025-q1-en.pdf) ## Find your province ## Personal debt in Alberta Alberta’s economy has grown rapidly since the oil boom of the 2010s, but that growth came with a higher cost of living. Today, the average home price is close to half a million dollars. When it comes to personal debt, Albertans carry the second highest average in Canada at $24,398 and the province leads delinquency rates at 1.97%. ### **Why Albertans are in debt** **Vehicle costs.** Alberta’s unique mix of rural and urban communities often means long commutes and expensive vehicles. The average new car in Alberta costs $68,733, and insurance runs about $3,151 per year, the highest in the country. **Low income.** Full-time workers that seek debt help in Alberta earn less than the provincial average income of $74,237, and many residents are self-employed or work as contractors. Irregular or self-employed work can also lead to [tax debt](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-avoid-tax-debt-as-a-member-of-canadas-growing-gig-economy) which one in five insolvent Albertan’s struggle with. **Employment instability.** Employment challenges are another factor. While three-quarters of Albertans who file for insolvency work full-time, job instability is frequently cited as a reason for filing. The oil industry’s fluctuations [create irregular income](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-budget-on-an-irregular-income) and [periods of unemployment](https://grantthorntonlimited.ca/en/debt-help-resources/articles/a-guide-to-managing-your-finances-for-the-newly-unemployed), making it harder to stay financially stable. ### **Debt advice for Albertans** If you’re concerned about job security or are struggling with CRA debt, [planning ahead is key](https://grantthorntonlimited.ca/en/debt-help-resources/articles/setting-financial-goals-7-realistic-examples). Falling behind on payments can escalate quickly, affecting both your finances and your lifestyle. The good news is that there are options available, [learn more about debt relief options in Alberta](https://grantthorntonlimited.ca/en/locations/debt-relief-in-alberta) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Man wearing a cowboy hat outdoors beside a graphic showing Alberta’s $24,398 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/9.png) ## Personal debt in British Columbia British Columbia is beautiful—but living there comes at a price. The province is known for its sky-high real estate costs, with the average home priced at over $1 million and rent averaging $2,656. Even a studio apartment costs $1,948. Food prices are also steep, despite local production on the mainland. And while costs soar, wages don’t always keep up—the average annual income is $66,232. Despite this gap, BC has one of the lower average debts at $22,631 and the lowest delinquency rate in Western Canada at 1.40%. ### **Why British Columbians are in debt** **Income issues.** BC’s size and diversity mean a wide range of financial challenges. Unlike other provinces, only half of BC debtors who file for insolvency work full-time. The rest are retired, self-employed, part-time, or living with disabilities. Health issues are a leading reason for filing. Even with provincial healthcare, costs like time off work, travel for treatment, and long-term complications add up. **Marital breakdown.** One in four insolvent British Columbians are [divorced](https://grantthorntonlimited.ca/en/debt-help-resources/articles/what-happens-to-debt-in-divorce)or separated. Credit cards dominate the debt landscape, accounting for 25% of reported debts, mostly from major banks. And while more than 10% of residents have tried solutions like consolidation loans, many need [more aggressive debt management options.](https://grantthorntonlimited.ca/en/consumer-proposal/what-is-a-consumer-proposal) ### **Debt advice for British Columbians** Divorce and separation can be financially and emotionally challenging, so make sure to know the cost before making the decisions. If [poor credit is making it hard to rent, there are still ways to secure housing](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-how-to-rent-in-canada-with-bad-credit). And remember, you don’t have to face debt alone—[learn more about debt relief options in British Columbia](https://grantthorntonlimited.ca/en/locations/debt-relief-in-british-columbia) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Woman outdoors in a grassy landscape beside a graphic showing British Columbia’s $22,631 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/10.png) ## Personal debt in Manitoba Manitoba offers a lower cost of living while still providing big-city amenities in cities like Winnipeg. It even holds the lowest average debt in Canada at $18,171, more than $800 below the next lowest province. But Manitoba still sees a relatively high delinquency rate of 1.72%, which may be linked to wage stagnation. ### **Why Manitobans are in debt** **Cost of living.** Salaries remain modest at $58,500, the lowest in Western Canada and far behind its neighbour Saskatchewan. While local food production helps keep grocery costs down, other expenses are harder to manage. Rent averages $1,431, and homes cost about $403,587, which can be difficult to afford on top of rising property tax and utilities. **Low income.** Three-quarters of Manitoba debtors have some form of post-secondary education—likely due to one of the lowest tuition rates in Canada at $5,386—yet many still say their income isn’t enough to cover expenses. Seasonal work in agriculture and manufacturing adds further financial uncertainty, making it difficult to save for emergencies. **High interest debt.** Debt often comes from utilities and taxes, which accounts for 14% of reported debt by Manitoba debtors. Tax debt is another issue: 20% of Manitobans list the CRA as a top creditor, with some owing more than $30,000. Provincial newcomers' programs may lead to immigrants struggling to navigate Canada’s credit system. ### **Debt advice for Manitobans** If you work in a seasonal or [irregular industry](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-budget-on-an-irregular-income), budgeting is essential. Planning for income fluctuations can help avoid overreliance on credit cards. [Watch for early signs of credit trouble](https://grantthorntonlimited.ca/en/debt-help-resources/articles/debt-danger-signals) and start paying down balances before they spiral. And if CRA debt feels overwhelming, know that there are ways to manage it. Whatever your situation, [we’re here to help you explore solutions and get back on track.](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) Learn more about [debt relief in Manitoba](https://grantthorntonlimited.ca/en/locations/debt-relief-in-manitoba), or book a free consultation with us. ![Farmer holding a basket of tomatoes beside a graphic showing Manitoba’s $18,171 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/7.png) ## Personal debt in New Brunswick New Brunswick is the gateway to the Maritimes and has been rising in popularity and population. Despite a slightly lower cost of living, financial challenges remain. The province’s average consumer debt is $21,490, and it holds the highest delinquency rate in Atlantic Canada at 1.77%. ### **Why New Brunswickers are in debt** **Cost of living.** Rent in New Brunswick is significantly below the national average at $1,485, and homes average $330,000. But owning a home can come with financial risks and uncertainties. It also limits the number of debt solution options available. NB has high home ownership rates of those that filed with Doane Grant Thornton. 1 in 5 New Brunswick debtors own a home, the highest rate in the country. **Lower income.** New Brunswick also has lower wages than other provinces and is the highest taxed, which may make it hard to stay ahead. Three quarters of New Brunswickers that sought help from Doane Grant Thornton work full-time yet still can’t afford all their expenses. Many residents rely on cars due to limited public transit and long distances between major cities, and list car loans and utility bills as common sources of debt. Adding to the strain, large companies have pulled out of the province, leaving gaps in employment and pushing more residents toward self-employment. ### **Debt advice for New Brunswickers** Medical issues and [unemployment](https://grantthorntonlimited.ca/en/debt-help-resources/articles/a-guide-to-managing-your-finances-for-the-newly-unemployed)are frequently cited as reasons for debt in New Brunswick. In these financially stressful situations, residents often fall back on payday loans and other high-interest credit options. Setting up an emergency fund can help absorb some of these unexpected costs before relying on debt. If you need a vehicle, make sure to stay on top of payments to [avoid repossession.](https://grantthorntonlimited.ca/en/debt-help-resources/articles/car-repossession) If you’re in New Brunswick and struggling, keep a close eye on utility costs and avoid high-interest loans. [We can help you explore better options.](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) Learn more about [debt relief in New Brunswick](https://grantthorntonlimited.ca/en/locations/debt-relief-in-new-brunswick), or book a free consultation with us. ![Teacher sitting in a classroom setting beside a graphic showing New Brunswick’s $21,490 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/2_2026-01-26-135640_xuwb.png) ## Personal debt in Newfoundland and Labrador Newfoundland and Labrador top the charts for average debt in Canada at $24,770, even though housing costs are among the lowest—just $406,100 on average. Home ownership is high at 75%, but incomes are modest at $52,562, and essentials like groceries and insurance rank among the most expensive nationwide. ### **Why Newfoundlanders and Labradorians are in debt** **Cost of living.** Unlike most provinces where housing dominates household budgets, Newfoundlanders and Labradorians spend nearly as much on food and transportation as they do on housing. Many debtors are married homeowners with post-secondary education, yet overextension and rising utility costs like heating can create financial strain. **Seasonal work.** Job opportunities and income often dip during the most expensive months, making it harder to keep up and because Newfoundland’s vast landscape makes car ownership essential, residents frequently owe significant amounts to car dealerships. ### **Debt advice for Newfoundlanders and Labradorians** If you’re buying a home, take time to understand every detail of your contract—from interest rates to policy types—and factor in additional expenses like utilities and maintenance. For those facing medical travel costs or struggling with car payments, an [emergency fund](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-saving-for-a-rainy-day-how-to-start-an-emergency-fund) can provide a much-needed buffer. And if debt feels overwhelming, we can help you get back on track. Learn more about [debt relief in Newfoundland and Labrador](https://grantthorntonlimited.ca/en/locations/debt-relief-in-newfoundland-and-labrador) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Construction worker holding a hard hat beside a graphic showing Newfoundland and Labrador’s $24,770 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/4_2026-01-26-135819_plzi.png) ## Personal debt in Nova Scotia Nova Scotia’s charm and coastal beauty come with a high and continuously rising cost of living. The province’s average debt sits at $21,296—below the national average—but its delinquency rate has climbed to 1.68% in the last year. ### **Why Nova Scotians are in debt** **Cost of living.** Halifax rent is now the third highest in Canada at $1,892, and the average home costs nearly $450,000. Meanwhile, the average income remains the third lowest in the country at $56,550. Seasonal work in fishing, tourism, and retail makes incomes unpredictable, and [student loans](https://grantthorntonlimited.ca/en/debt-help-resources/articles/student-loan-debt-relief) add extra pressure. Nova Scotia has the highest tuition in Canada at $9,575, which means graduates often start their careers in significant debt. **Marital** **breakdown.** Personal circumstances also play a role: one in five Nova Scotia debtors are divorced or separated, which can lead to higher living costs as well as spousal or child support payments. Even homeownership can be a double-edged sword for Nova Scotians with rising utility and home maintenance costs. ### **Debt advice for Nova Scotians** Many Nova Scotians also [owe money to the CRA](https://grantthorntonlimited.ca/en/debt-help-resources/articles/can-you-reduce-tax-debt-with-a-consumer-proposal), often due to irregular income or lingering CERB repayments. If that’s you, don’t panic—there are ways to reduce your debt and stop interest from piling up. Arranging your [budget seasonally](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-budget-on-an-irregular-income) can make a big difference in regulating fluctuations in income and living expenses. Stay on top of tax deductions, and if you’re struggling with CRA or other creditors, we can help stop interest and reduce what you owe. Learn more about [debt relief in Nova Scotia](https://grantthorntonlimited.ca/en/locations/debt-relief-in-nova-scotia) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Man standing at a marina beside a graphic showing Nova Scotia’s $21,296 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/1.png) ## Personal debt in Ontario Ontario is home to some of Canada’s most expensive housing markets—especially in Toronto and the surrounding region. On top of housing, Ontario residents owe on average $22,500 in non-mortgage debt. While it’s not the highest amount in Canada, Ontarians are finding it tough to keep up with payments—as delinquency rates in the province climb faster there than anywhere else. ### **Why Ontarians are in debt** **Cost of living.** Groceries may be cheaper than in other regions due to its central location, but Ontario still has some of the highest rent and vehicle costs in the country. A one-bedroom apartment averages $2,281 per month, and houses can cost upwards of $800,000. New car prices have climbed 10% between 2023 and 2024, driven by factors like higher demand, larger vehicles, and lingering supply chain issues, reaching $65,645. For those outside major city centers, owning a vehicle is often a necessity. **Employment instability.** Most people who file for insolvency in Ontario list [employment instability](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-if-your-employer-goes-bankrupt) or loss of income as their reason for filing. Of those who filed with Doane Grant Thornton, over half are employed, but earn significantly less than the provincial average, just $38,535 compared to $63,369. Many households also rely on a single income to get by and reach for credit to bridge financial gaps. **Reliance on** l**oans**. Many Ontarians rely on loans to offset the cost of living. Of those who filed with Doane Grant Thornton, student loans top the list, partially due to Ontario being one of the few provinces that still charges interest on provincial student loans. Credit cards account for 22% of reported debts, and one in ten Ontarians have turned to [payday](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-get-out-of-payday-loan-debt) loans to make ends meet. ### **Debt advice for Ontarians** Housing is the biggest expense for most Ontario residents. If possible, reducing [housing costs](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-how-to-rent-in-canada-with-bad-credit) can make a big difference in your budget. A common option is to live with roommates or family. You should also prioritize paying down high-interest debt—like credit cards and payday loans—and build an emergency fund to cushion against income loss. If unemployment or financial stress is making it hard to get back on track, we’re here to help you explore your options. Learn more about [debt relief in Ontario](https://grantthorntonlimited.ca/en/locations/debt-relief-in-ontario) or book a [free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Man in an office setting beside a graphic showing Ontario’s $22,543 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/5.png) ## Personal debt in Prince Edward Island Prince Edward Island may be Canada’s smallest province, but its financial hurdles are big. Islanders carry an average debt of $23,707, and while the delinquency rate is relatively low at 1.19%, incomes remain the lowest in the country at just $46,160. ### **Why Prince Edward Islanders are in debt** **Irregular income.** Seasonal work in agriculture, fisheries, and tourism creates income gaps for many residents. Rising rent and home prices—averaging $364,700, the second highest in Atlantic Canada—add to the strain. A growing trend of converting long-term rentals into vacation properties is pushing housing costs even higher and reducing rental availability. **Employment instability.** One in five PEI debtors is unemployed, and another one in five works only part-time or seasonally. Half of PEI debtors are single, meaning they have to manage the rising costs on a single income. ### **Debt advice for residents of Prince Edward Island** Credit card debt—especially store cards—is common in PEI. On top of that, the average debtor that files with Doane Grant Thornton owes more than their monthly income to the CRA, roughly $6,000, often due to self-employment or contract work. If this sounds familiar, consider budgeting for seasonal income fluctuations and [steering clear of high-interest store cards.](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-should-i-get-a-store-credit-card) These small steps can make a big difference, and we can help. Learn more about [debt relief in Prince Edward Island](https://grantthorntonlimited.ca/en/locations/debt-relief-in-prince-edward-island) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Person outdoors wearing a jacket beside a graphic showing Prince Edward Island’s $23,707 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/3.png) ## Personal debt in Saskatchewan Saskatchewan has long been considered one of Canada’s most affordable provinces. It boasts the highest average income in the country at $88,424, low rent prices—one of only two provinces where a studio apartment averages under $1,000—and even below-average food costs. So why does the average Saskatchewan resident owe $23,194, more than $1,000 above the national average? And why does the province have the second-highest delinquency rate at 1.82%, just behind Alberta? ### **Why Saskatchewanians are in debt** **Cost of living.** While living costs are relatively low, they’ve risen sharply in recent years, making it hard for Saskatchewanians to adjust their budgets. Rapid interest rate hikes have also hit hard with many who borrowed expecting low rates now struggling to keep up. **Existing debt and m**arital breakdown. Saskatchewan attracts newcomers from other provinces seeking affordability, but many bring existing debt with them. Among those filing for insolvency, 80% work full-time, yet earn only about half the provincial average income. Over half are single or separated, and one-third have at least one child, which adds financial pressure even in a lower-cost province. **High interest debt.** Many turn to credit cards and payday loans to fill the financial gaps but still find themselves falling behind. [Store credit cards](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-should-i-get-a-store-credit-card) are especially popular, making up 10% of all creditor accounts—but these products often carry extremely high interest rates, which can quickly spiral out of control. ### **Debt advice for residents of Saskatchewan** Be cautious with store credit cards and [payday loans](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-get-out-of-payday-loan-debt)—understanding the terms before signing up can save you from costly surprises. If you’re [a single parent](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-to-budget-as-a-single-parent), consider budgeting strategies tailored to your situation. If you’ve tried solutions but still need help, we’re here to guide you toward better options. Learn more about [debt relief in Saskatchewan](https://grantthorntonlimited.ca/en/locations/debt-relief-in-saskatchewan) or [book a free consultation](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) with us. ![Woman standing indoors wearing a sweater beside a graphic showing Saskatchewan’s $23,194 average debt with reasons and advice for debt relief.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_870xAUTO_fit_center-center_100_none_ns/8.png) ## Personal debt in the Territories Due to small populations in Nunavut, Yukon, and the Northwest Territories, insolvency filing numbers are also low, resulting in insufficient data. If you are from any of the territories and are struggling with debt, that doesn’t mean you can’t find help. We are able to provide remote insolvency services to people in these areas looking for a financial fresh start. [Book a free consultation today.](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) ## Sources **Doane Grant Thornton Debt Solutions** – *How Much Debt Is Normal for Your Age* [https://gtdebtsolutions.com/en/debt-help-resources/articles/how-much-debt-is-normal-for-your-age](https://grantthorntonlimited.ca/en/debt-help-resources/articles/how-much-debt-is-normal-for-your-age) **Equifax Canada** – *Consumer Credit Trends Report Q1 2025* **Statistics Canada** – *Labour* Market Outcomes Research – 11‑633‑X2025003 **Narcity** – *Average Grocery Prices in Canada by Province (2025)* **Immigration News Canada** – *New Average Rent in Canada Reaches Record High* **Spring Financial** – *Average Income by Province in Canada* **AutoTrader** Canada – *AutoTrader* Price Index – March 2024 **ARC Insurance** – *Average Car Insurance Rates Across Canadian Provinces* **Spring Financial** – *Average Home Prices in Canada* **Daily Hive** – *Post‑Secondary Education Tuition Costs Across Canada* **Statistics Canada** – *The Daily: Canadian Mortgage Borrowing Update (2022)* **Statistics Canada** – *Economic and Social Reports: 11‑621‑M2024010* ## Latest articles [ ![](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbListSmall/67684/assets-CP-square.webp) ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-your-assets-in-a-consumer-proposal) [What happens to your assets in a consumer proposal? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-your-assets-in-a-consumer-proposal) [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-your-assets-in-a-consumer-proposal) [ ![](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbListSmall/65155/recreational-vehicle-square.webp) ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-an-rv-boat-or-atv-loan-if-you-file-a-consumer-proposal-or-bankruptcy-in-canada) [### What happens to an RV, boat, or ATV loan if you file a consumer proposal or bankruptcy in Canada? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-an-rv-boat-or-atv-loan-if-you-file-a-consumer-proposal-or-bankruptcy-in-canada) [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-an-rv-boat-or-atv-loan-if-you-file-a-consumer-proposal-or-bankruptcy-in-canada) [ ![](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbListSmall/63555/influencer-survey.webp) ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-influenced-into-debt-how-social-media-impacts-canadians-finances) [### Influenced into debt: How social media impacts Canadians' finances ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-influenced-into-debt-how-social-media-impacts-canadians-finances) [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-influenced-into-debt-how-social-media-impacts-canadians-finances) ## Subscribe to our newsletter Get tips and tools to help manage your finances and live debt free. \*I agree to receive communications from Doane Grant Thornton. I understand that I can unsubscribe at any time. ## **Take the first step** to debt freedom Speak to one of our debt solutions professionals during a free, no-obligation consultation. [ Book a free consultation ](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) ## Related articles ![](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/67684/assets-CP-square.webp) ### [What happens to your assets in a consumer proposal? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-your-assets-in-a-consumer-proposal) In most cases, a consumer proposal allows you to keep all of your assets while bankruptcy may require you to surrender certain non-exempt assets. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-your-assets-in-a-consumer-proposal) ![Marina filled with sailboats and recreational boats along the Charlottetown waterfront on a sunny day.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/65155/recreational-vehicle-square.webp) ### [ What happens to an RV, boat, or ATV loan if you file a consumer proposal or bankruptcy in Canada? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-an-rv-boat-or-atv-loan-if-you-file-a-consumer-proposal-or-bankruptcy-in-canada) For many Canadians, recreational vehicles offer freedom, adventure, and unforgettable family memories. But if you’ve financed an RV, travel trailer, boat, ATV, snowmobile, or side-by-side, those monthly payments can become difficult to manage if life takes an unexpected turn. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-to-an-rv-boat-or-atv-loan-if-you-file-a-consumer-proposal-or-bankruptcy-in-canada) ![A woman in scrubs sitting on a park bench looking at her phone, with imagery of social media likes and spending surrounding her.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/63555/influencer-survey.webp) ### [ Influenced into debt: How social media impacts Canadians' finances ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-influenced-into-debt-how-social-media-impacts-canadians-finances) While social media may be free to use, the things it influences us to buy often come at a cost. As influencer marketing continues to grow, more Canadians are making purchases based on what they see online. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-influenced-into-debt-how-social-media-impacts-canadians-finances) ![A woman sitting with papers and a calculator in front of her](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/63201/cp-annulment-square.webp) ### [ What happens if you miss a consumer proposal payment? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-if-you-miss-a-consumer-proposal-payment) Missing a payment during your consumer proposal can feel scary—but it’s not the end of the road. This article explains exactly what happens if you miss a consumer proposal payment, how to avoid annulment, and what to do if your consumer proposal is annulled. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-if-you-miss-a-consumer-proposal-payment) ![A young woman sits with and supports an older woman holding a cane.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/Web-image-square/_articleThumbMedium/58677/caregiver-article-square.webp) ### [ Tips to avoid debt as a family caregiver in Canada ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-tips-to-avoid-debt-as-a-family-caregiver-in-canada) With the rising cost of living and long waitlists for long-term care, more Canadians are becoming family caregivers, but it can come with an emotional and financial cost. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-tips-to-avoid-debt-as-a-family-caregiver-in-canada) ![Person packing a box for moving](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/57664/adult-child-moving-home-square.webp) ### [ How to budget when your adult child moves back home ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-how-to-budget-when-your-adult-child-moves-back-home) Adult children moving back home isn’t just a trend—it’s quickly becoming the norm. While the cost of living continues to climb across Canada, many Gen Z and millennial Canadians are packing up their apartments and returning to the nest as “boomerang kids.” [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-how-to-budget-when-your-adult-child-moves-back-home) ![Person looking down at bills with head in hand, surrounded by paperwork and an open laptop.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Article-imagery/_articleThumbMedium/56923/utilities-square.webp) ### [ What happens if you don’t pay your utility bills in Canada? ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-if-you-dont-pay-your-utility-bills-in-canada) If you’re worried about unpaid electricity, heating, or water bills, you’re not alone. But disconnection isn’t immediate, and you usually have options to protect your service while you get back on track. [ Read this article ](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-happens-if-you-dont-pay-your-utility-bills-in-canada)