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Debt research

Debts, dollars and decisions: Three generations of homeowners talk about debt and money management

Debt Research Survey

In the latest Manulife Bank Homeowner Debt Survey, three generations of homeowners – Millennials, Generation X and Boomers – offered insights into their money management.

Key findings include:

  • Nearly half of Canadian homeowners aren’t prepared for emergency expenses
  • More than one in three Millennials feel mortgage interest rates are too high
  • The largest source of stress for Generation X is their inability to save for retirement
  • Boomers want to remain in their homes during retirement, but four in 10 expect home equity to make up more than 60% of their household’s wealth when they retire.

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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.


The Manulife Bank of Canada poll surveyed 2,372 Canadian homeowners in all provinces between ages 20 to 69 with household income of $50,000 or more. The survey was conducted online by Environics Research between June 28 and July 8, 2016. National results were weighted by province, income and age.

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