British Columbians’ financial vulnerability remains persistent, as economic uncertainty, high living costs, and employment anxiety weigh on household confidence.
Despite signs of easing, financial strain continues to push residents into difficult trade-offs in their day-to-day lives.
According to the latest MNP Consumer Debt Index, more than half (51%,) say they are grocery shopping strategically — using meal plans, bulk buying, coupons and price matching — while two in five have stopped dining out or ordering takeout (40%) to save money.
At the same time, three in 10 (30%) report cutting back on their utility consumption.
In addition, nearly one in five (17%) are delaying or skipping medical, dental or prescription care, underscoring how financial strain is affecting households’ well-being.
Additionally, nearly three in 10 this quarter still say they are eating less to make ends meet.
“There are some households that are being stretched to their breaking point,” says Linda Paul, a Licensed Insolvency Trustee with MNP LTD. “When people start scaling back on food, health care, or other essentials, it’s not just about budgeting anymore — it’s about daily survival. That level of pressure can have a significant emotional impact as well.”
The average amount British Columbians have left over after monthly expenses has fallen by $75 to $816.
At the same time, more than two in five (44%) British Columbians report they are within $200 of being unable to pay their bills each month.
“When there’s so little left at the end of the month, even a small, unexpected cost can force people to rely on credit that comes with steep borrowing costs,” adds Paul. “At that point, debt can quickly snowball and become overwhelming. The longer people wait to get help, the more difficult it can feel to find a way forward.”
Job Insecurity and AI Concerns Add to Financial Strain
Furthermore, peoples confidence in their ability to cope with a job loss has rebounded this quarter, increasing a significant 13 points, however, the score remains net negative (-7), indicating persistent employment anxiety amid a softening job market.
Against this backdrop, nearly half (45%) worry that artificial intelligence could negatively affect their job or income.
Nearly half (48%) of British Columbians say they don’t have six months of emergency savings to withstand a disruption.
Debt Concerns Ease from Record Highs — But Optimism Remains Weak in B.C.
More British Columbians are viewing their debt situation positively this quarter, with one-third (37%) rating it as “excellent.” However, nearly one in five (18%) describe their situation as “terrible,” underscoring the divide in financial confidence across the province.
The portion of residents who worry about their ability to repay debt even if rates declined (39%), and those who fear future increases could push them toward bankruptcy (43%, -12pts) has fallen back to benchmark levels.
Meanwhile, one in 10 say they even plan on eating less (10%) to save money, while 12 percent plan to reduce utility consumption over the next year.
Something going on in the Prince George area you think people should know about?
Send us a news tip by emailing [email protected].
