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Albertans have the highest debt in the country: BDO Canada

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CALGARY (660 NEWS) – A lot of Albertans are carrying a heavy burden.

According to a report released on Wednesday by BDO Canada, people in this province have the highest average amount of non-mortgage debt in the country at $24,705.40.

BDO Senior Vice-President Craig Fryzuk has some insight into why some Albertans are struggling.

“One of them is this lifestyle creep, you know you start making more money and then you order a little more expensive bottle of wine when you go for dinner, you go for dinner more. There’s a lot of that happens, it’s just a human nature, natural progression,” Fryzuk said.

The report also found that of the 78 per cent of Albertans with debt, a quarter are so overwhelmed they don’t know what to do about it.