iN NUMBERS: Consumer debt in B.C. is stressing everybody out
If you’re struggling with debt, you are certainly not alone. If you’re debating whether to call a financial expert or a therapist, you’re also not alone. Across the country, British Columbians are most likely to say that rising interest rates could drive them bankrupt.
Here are some recent numbers on consumer debt in B.C.:
67: Per cent of British Columbians desperately need interest rates to go down.
31: Per cent of British Columbians said they had to put their lives on hold to deal with debt.
55: Per cent of British Columbians said rising interest rates could send them into bankruptcy.
22,583: Dollars was the average consumer debt of British Columbians at the end of 2024, excluding mortgages.
40,000: A year was the median total income for folks in Thompson-Okanagan, according to the most recent census data.
890: Dollars is the average amount BCers have left at the end of the month, up $90 from last quarter. It’s not all bad news.
3,394: Dollars is the average outstanding credit card debt for folks in Kelowna, fifth highest in the country, according to Money.ca.
2.2: Million British Columbians are on the edge of not being able to repay their debts.
200: Dollars a month in extra expenses would send almost half of British Columbian into insolvency.
1.74: In debt for every dollar of disposable household income in Canada at the end of 2024.
25: Per cent of British Columbians said they feel like they are constantly putting out financial fires.
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