MNP Debt Blog

According to Statistics Canada, the annual inflation rate in Canada jumped 1.6% in December. Much of this increase can be attributed to the rising costs of groceries.

As we begin the month of February and bills from the holiday season have arrived, it's probably difficult to make planning and budgeting for the future a priority.

While it’s perfectly natural to want to go ‘all out’ during the holiday season, it’s important to recognize the true cost of splurge spending.

It’s that time of year. The bills from the holiday season are starting to roll in and given the tough economic climate and significant job losses, many Canadians are going to find they are in debt beyond their means.

Low interest rates and readily available credit have caught a lot of consumers in the trap of the ‘have now pay later’ trend. In fact, Canadian consumers are already spending 163% of their income.

The third Monday of January is coined “Blue Monday” because it is apparently the saddest day of the year. Pairing a Canadian winter with all the bills rolling in from the holidays, makes the term quite fitting.

It’s that time of year again. It’s cold, and dark and wintertime. Nothing saws ‘reward me’ like a little shopping and getting yourself that special something to perk up your day.

January 18, 2016, CANADA – The third Monday in January has been dubbed Blue Monday; what can be for some the most depressing day of the year as the holiday bills arrive around this time.

With thousands of Albertans laid off due to the downturn in the oil and gas industry, it’s no surprise to learn that Alberta is experiencing an all-time high in delinquent loans.

To keep yourself on track for a good financial start to 2016, try creating a detailed budget before you leave your house. Having a plan in hand will help you check things off your list – rather than adding to it!