Calls for credit counseling are increasing as Canadians struggle with rising costs – MoneySense

The number of calls to credit counseling agencies has increased by 40%

Nationally, requests for help with debt management are increasing, but the provincial breakdown is even more telling:

• Ontario: 59.1%
• British Columbia: 58.1%
• Manitoba: 33.9%
• New Brunswick: 25.2%
• Alberta: 18.8%

Residents of Toronto and Vancouver probably won’t be surprised: the cost of living in Ontario and BC is much higher than that in provinces like Alberta, and the number of credit counseling calls reflects this reality.

In fact, Credit Canada recorded an all-time high in September 2025, receiving more calls in one month than ever in its 60-year history.

Rising costs are putting pressure on Canadians’ finances

Credit Canada and Equifax highlight several pressures that make it harder for Canadians to feel financially secure. The Consumer Price Index (CPI) shows that the cost of living increased by 2.2% year-on-year, with food prices increasing by 3.5% and housing costs increasing by 2.5%.

Canadians are also paying roughly 7% more for home and car insurance, while cell phone bills have increased by the same amount. As expenses rise, delinquencies on credit cards and personal loans rise, especially among those under 35.

“We are living in very difficult times with inflation, housing affordability and mortgage rates,” says Bruce Sellery. Many people know that you should have a budget and contribute to savings, but when affordability outweighs income, it can be difficult to know what to do with your money, which is one of the reasons Credit Canada has seen such an increase in calls.

Related reading: This is what a comfortable income looks like in Canada

Take control of your finances, one step at a time

Feeling overwhelmed is normal, but as Sellery notes, “At the same time, we have a lot of agency. We sometimes forget that.” Seeking credit advice is one step, but before you take action, ask yourself the following: “Why are my finances the way they are?”

Understanding your spending habits, values, and weaknesses in your budget can help you change the way you think. Once you have that insight, you can start committing to change, whether it’s finding a side job to save for a big purchase or finding creative ways to live in an expensive city, like renting out a room or selling your car to rely on public transportation.

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Try it for a structured approach Credit Canada’s purpose of money quizthat will help you identify what you want to do with your money and suggest simple steps to get started.

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About Jessica Gibson

Jessica Gibson is a personal finance writer with more than a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.