Al­ber­tans carry high­est debt in Canada, sur­vey re­veals

Calgary Herald - - CITY + REGION - NI­COLE BERGOT

ED­MON­TON Al­ber­tans fuss more over debt than the in­ter­est on it, a new poll shows. But as they age, in­ter­est be­comes more of a con­cern, says the debt aware­ness sur­vey, a Leger poll of 1,517 Cana­di­ans spon­sored by Credit Canada.

Half of Al­ber­tans polled said debt prin­ci­pal is more wor­ri­some than the in­ter­est. Al­ber­tans con­tinue to carry the high­est av­er­age con­sumer debt in the coun­try — ex­clud­ing mort­gage debt — at $28,155, the sur­vey found. Other high­lights from Al­berta:

71 per cent of Al­ber­tans are aware of their to­tal debt (ver­sus 65 per cent na­tion­ally);

46 per cent know the in­ter­est rate on their debt;

39 per cent know the amount they are pay­ing in monthly in­ter­est;

46 per cent of Al­ber­tans know how long it will take to pay off their debts with fixed pay­ments (ver­sus 34 per cent na­tion­ally);

28 per cent know how long it will take to pay off their debts with min­i­mum pay­ments.

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