Accessibility/Mobile Features
Skip Navigation
Editorial News
Classified Sites


Manitobans reduce household debt

Manitoba/Saskatchewan residents have reduced their average household debt by more than $13,000 in the past year, according to a new Bank of Montreal survey.

The bank said the average household debt in the Prairie region dropped to $68,437 this year from $82,100 in 2013.

But despite the improvement, it was still the third highest level of household debt among the six regions covered in the survey. Alberta had the highest average at $124,838, while Quebec had the lowest at $59,805.

In terms of the type of debt, more than four in 10 (45 per cent) of Manitoba/Saskatchewan households are carrying credit card debt, less than four in 10 (38 per cent) are carrying mortgage debt, and only three per cent are carrying student loans, the survey found.

The percentages for credit card debt and student loans were the lowest of any region, while the percentage for mortgage debt was the second lowest.

Nationally, the average household debt has risen to $76,140 from $72,045 in 2013.

The survey found that more than half (52 per cent) of Canadian households have a credit card balance, more than four in 10 (43 per cent) have mortgage debt, and 15 per cent are carrying student loans.

The results of the BMO Household Debt 2014 survey are based on an online survey of 1,002 Canadians conducted between June 30 and July 3. The margin of error for a probability sample of that size is plus or minus 3.1 per cent, 19 times out of 20.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.


Make text: Larger | Smaller

2017 Brandon Sun Community Leader Awards
Brandon Sun - Readers Choice Results
Why Not Minot?

Social Media