Manulife Bank Debt Survey Results
This summer, Manulife Bank surveyed1 Canadian homeowners and renters to uncover money confessions about debt. The survey revealed that money issues have an impact on Canadians’ relationships and mental health.
- Half of Canadians in debt are stressed about their level of debt and worrying about debt keeps one in three up at night
- 30% of married/common law couples in Canada confess to relationship issues caused by debt
- 40% of Canadians with debt confess it’s negatively impacting their mental health
- Of those who say they have a lot of debt, 85% feel it causes stress and 75% find it difficult to deal with unexpected financial changes
Debt shouldn’t impact relationships and mental health. Start talking about debt management 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 2,003 Canadians in all provinces between ages 20 and 69 with household income of more than $40,000. The survey was conducted online by Ipsos between May 11-14, 2018. National results were weighted by gender, age, region and education. This survey has a credibility interval of +/- 2.5%.