The truth is in the numbers.
This fall, Manulife Bank surveyed1 Canadian homeowners and renters to uncover the truth about debt. We learned that both groups feel like they’re in the dark when it comes to strong debt management knowledge.
- 55% said they seldom discuss their debt situation with friends or family
- Nearly 1/3rd of debt holders are embarrassed or don’t know who to talk to about debt management
- Nearly half of Canadians feel they do not have very good knowledge of debt management
- 71% would like to be more confident about financial decisions
- 62% of Canadians are not satisfied with their overall financial health or access to money for emergencies
Don’t just let the numbers do the talking. Start talking about debt today.
About Manulife Bank's Debt Research
Manulife Bank believes many Canadians could save money, become debt-free sooner and achieve more of their financial goals by managing debt more effectively.
Effective debt management is a key contributor to financial health. By conducting surveys and research into debt management, we’d like to:
- Inform and encourage public discussion of consumer debt in a way that helps people understand the role that debt plays in their financial health.
- Educate Canadian consumers on effective debt management by providing information and insights.
- Encourage Canadians to discuss debt management with their families and financial advisors, and look for ways to manage their debt more effectively.
1The Manulife Bank of Canada poll surveyed 2,409 Canadian homeowners and renters in all provinces between ages 20 and 69 with household income of more than $40,000. The survey was conducted online by The Nielsen Company between October 11th - 23rd, 2017. National results were weighted by province and age. Manulife, Manulife Bank and the Block Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.