The latest Consumer Debt Index has revealed that Ontarians are bracing for more financial challenges this year.
According to MNP LTD's latest quarterly index, released this week, the vast majority of Ontario residents are expecting to feel the pinch in their wallets in 2026.
Among those who responded to the index, compiled by Ipsos, 72 per cent expected the cost of living to get worse this year.
"There is an expectation across Ontario that household finances will face added pressure, contributing to ongoing concern about economic security over the year ahead," said MNP's Caryl Newbery-Mitchell. "Many Ontarians expect more financial strain across daily expenses in 2026 rather than improvement."
Fifty-eight per cent of respondents believed that the economy would decline, and 59 per cent expected housing availability to decrease.
The current trade relationship with the United States was also considered in the latest index, with 52 per cent of respondents anticipating pressure. Concerns were also raised by respondents about higher taxes, rising poverty and equality, and worsening government deficits.
"Prolonged financial pressure is leading to both action and hesitation among Ontarians," said Newbery-Mitchell. "How Ontarians respond to financial stress often depends on whether they feel they have any flexibility to work with. Additional room allows some to make budget adjustments and explore options to manage their debt. Ongoing economic uncertainty continues to reinforce debt avoidance for others."
The index reported that Ontarians continue to respond to financial issues differently. Some 58 per cent have adopted a "fight" approach, shown by adjusting spending, trying to consolidate debt, and getting help from a debt counsellor or a financial advisor.
Another 28 per cent have adopted a "flight" response, by failing to think about financial issues or relying too much on credit. Thirteen per cent say they are "frozen", not knowing what to do one way or another.
The poll was conducted between November 28 and December 1, 2025, with Ipsos interviewing 2,001 Canadians 18 and older, with a 2.7 per cent margin of error.
