More Canadians owe more money than ever before and use debt to survive, with millions of people having “no margin for error” if a financial crisis strikes, a new document suggests.
“Many Canadians are under financial strain … over half of Canadians (53%) report that they struggle to keep up with financial commitments,” the Financial Consumer Agency of Canada (FCAC) said in a recently released memo, which was first covered by Blacklock’s Reporter.
