The Calgary Herald reported that more than half of Albertans are bracing for financial difficulties as insolvencies continue to rise in the province according to the MNP Consumer Debt Index.
Meaghon Reid said 28% of Calgarians could not weather a financial shock for at least three months, while 30% of Calgarians making less than $30,000 are unable to put any money into savings. She commented about rising interest rates and explained, “rent is shooting through the roof, food is still expensive,” she said pointing to a 77% increase in demand at the Calgary Food Bank from 2019 to 2022.
