Albertans carry highest debt in Canada, survey reveals
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.