News that inflation dropped to a more than three-year low in September has not changed the financial picture for many Canadians who continue to struggle with a permanently higher cost of living.
Growing optimism about the improving economic outlook for some comes as others report the need for ongoing sacrifices and a continual stress about making ends meet, according to new polling released Wednesday.
The latest MNP Consumer Debt Index, based on Ipsos polling from September, reported that nearly a third of respondents (30 per cent) are turning to “bill-splitting” behaviours — spreading out costs with others — in the current cost-of-living crunch. That could refer to carpooling, buying in bulk with a group, sharing subscriptions and living with other people.
Those who are cohabitating or splitting bills were more likely to report being close to insolvency, according to MNP.
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Wes Cowan, licensed insolvency trustee with MNP, tells Global News that he’s seen …