OttawaIn Depth

Debt becomes us

CBC Ottawa takes a look at the mounting consumer debt, how residents get into deep debt, how to deal with that debt and success stories about those who have escaped debt.

CBC News Posted: Aug 31, 2012 12:01 PM EDT | Last Updated: September 7, 2012

The lost art of frugality

12 years ago

3:14

Former Ottawa high-tech worker Mr. Money Mustache has attracted a following preaching the benefits of fiscal responsibility.

Visit here tocheck outour series, Debt Becomes Us.

We featured stories on why Ottawa residents carry too much consumer debt, the dilemma for impending retirees and their debt, and introduce you to two Ottawans whoare escapingdebt by bucking the trend and who plan on retiring by age 40.

Tuesday, Sept. 4:Canadians with big debts worry about interest rate

Wednesday, Sept. 5:Ottawa woman's debt delays retirement

Thursday, Sept. 6:Former Ottawa worker embraces lost art of frugality

You can alsocheck out a transcript of our web chat from Sept. 6 with financial blogger Mr. Money Mustache,by clicking this link.

We also want to hear your stories about defeating debt. Please email them to cbcnewsottawa@cbc.caand we might share them onlinehere.

Canadians are carrying, on average, $26,221 of consumer debt. That's the highest amount since 2004.

See below for the numbers across the provinces.

Average consumer debt, by province
	Q2 2011	Q2 2012	Change
British Columbia	$36,820	$37,879	2.9%
Alberta	$34,081	$33,564	-1.5%
Saskatchewan	$26,902	$27,699	3.0%
Manitoba	$19,456	$19,945	2.5%
Ontario	$24,721	$25,447	2.9%
Quebec	$18,269	$18,580	1.7%
New Brunswick	$21,547	$23,045	6.9%
Nova Scotia	$23,161	$24,255	4.7%
Prince Edward Island	$22,807	$23,931	2.4%
Newfoundland and Labrador	$23,353	$24,495	4.9%
(Source: TransUnion)

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Debt becomes us

The lost art of frugality

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