‘Financial whiplash’ for Albertans during economic uncertainty: MNP

A new report says economic volatility is disrupting long-term financial planning as a quarter of respondents state they don't earn enough to cover bills.

Albertans are experiencing “financial whiplash” and are stretching their household budgets as volatile economic conditions disrupt long-term planning, according to the latest MNP Consumer Debt Index.

A new report released Monday from accounting firm MNP reveals 59 per cent of Albertans feel their financial plans are being derailed by global uncertainty.

Despite the Bank of Canada holding interest rates at 2.25 per cent, the sense of instability remains high, with 70 per cent of respondents saying they’re delaying major financial decisions.

“We’re looking at about 42 per cent of Albertans within $200 of not being able to meet their financial obligations,” said Sandra Landry, MNP senior vice-president and trustee.

“The debt situation here in Alberta has improved slightly for some, and for others, not so much.”

The survey also found Albertans are only seeing about $1,053 at the end of each month, down from $1,119 last quarter.

Twenty-six per cent of respondents say they don’t earn enough to cover bills and current debt.

The new report also keeps the overall index at 87 points, remaining unchanged.

“We didn’t expect to see a whole lot of change in the 2026 year,” said Landry.

“Whether or not all of the changes that are happening in the economy right now are going to change in such a manner that it gets better, I guess, is yet to be seen.”

Data shows 77 per cent of Albertans and 74 per cent of Canadians are feeling the strain from the rising cost of food and gas, with 84 per cent of people becoming more cautious about taking on new debt.

The MNP report also points to tax season, and that 12 per cent of respondents who are Albertan expect to owe taxes they cannot afford to pay.

The data was compiled by Ipsos on behalf of MNP between March 10 and 11.

Two thousand Canadians 18 and older were surveyed.

The margin of error is plus or minus 2.7 percentage points, 19 times out of 20.