As Canadians grapple with rising costs, calls for credit counseling are increasing

Calls to credit counseling centers have increased by 40%

At the national level, requests for help with debt management are increasing – however the breakdown by province is much more telling:

• Ontario: 59.1%
• British Columbia: 58.1%
• Manitoba: 33.9%
• New Brunswick: 25.2%
• Alberta: 18.8%

Residents of Toronto and Vancouver probably won’t be surprised: the fee of living in Ontario and BC far exceeds that in provinces like Alberta, and the variety of credit counseling calls reflects that reality.

In fact, in September 2025, Credit Canada recorded an all-time high, receiving more calls in a single month than at any time in its 60-year history.

Rising costs are putting a strain on Canadians’ funds

Credit Canada and Equifax highlight several pressures that make it difficult for Canadians to feel financially secure. The Consumer Price Index (CPI) shows the fee of living rose 2.2% year-on-year, with food prices rising 3.5% and accommodation costs rising 2.5%.

Canadians are also paying about 7% more for home and automotive insurance, while cellular phone bills have increased by the identical amount. As spending increases, delinquencies on bank cards and private loans are increasing, particularly amongst those under 35.

“We are living in really difficult times with inflation, housing affordability and mortgage rates,” says Bruce Sellery. Many people know that it’s best to have a budget and contribute to savings, but when affordability exceeds income, it will possibly be difficult to know what to do along with your money. This is one among the the reason why Credit Canada is seeing such a rise in calls.

Related Reading: This is what a cushty income in Canada looks like

Take control of your funds step-by-step

Feeling overwhelmed is normal, but Sellery emphasizes: “At the same time, we have a lot of room for maneuver. We sometimes forget that.” Calling credit counseling is one step, but before you’re taking motion, ask yourself: “Why are my finances the way they are?”

Understanding your spending habits, values ​​and budget weaknesses can aid you change your mindset. Once you will have this insight, you may begin to embrace change—whether it’s taking up a part-time job to save lots of for a giant purchase or finding creative ways to live in an expensive city, comparable to renting out a room or selling your automotive to depend on public transportation.

The article continues below promoting

Try a structured approach Credit Canada Money Purpose Quizthat helps you work out what you wish your money to do and suggests easy steps to start.

Read more about debt:

About Jessica Gibson

Jessica Gibson is a private finance author with over a decade of experience in online publishing. She enjoys helping readers make informed decisions about bank cards, insurance, and debt management.