iN NUMBERS: British Columbians’ paycheques spoken for before it hits

It’s payday, you’re excited and relieved. Maybe you want to go out to eat or see a show, then you realize it’s all going to have to go to rent, debt and other bills.

According to the latest MNP Debt Index, that’s a familiar scenario for a lot of British Columbians.

“Paycheque to paycheque no longer fully captures the pressure many British Columbians are under,” MNP licensed insolvency trustee Linda Paul said in a press release.

“The paycheque may not have arrived yet, but a large part of it is already needed for bills, debt payments and regular expenses.

“While that can keep households current for a while, it can also create a rolling shortfall, where each pay period is spent catching up from the last one.”

Here are the latest numbers from MNP:

• 58: Per cent of British Columbians surveyed said at least half of their income is already committed to bills, debt payments and regular expenses before it arrives.
• 32: Per cent of British Columbians said it’s decided that most of their paycheque is going to regular expenses like bills before it arrives.
• 14: Per cent of British Columbians said their whole paycheque pays for necessities.
• 43: Per cent of British Columbians surveyed said they are struggling to get ahead, the highest rate for any province.
• 38: Per cent of British Columbians surveyed said they are cutting back on family and personal enrichment like personal care, clothes and activities for kids.
• 61: Per cent of British Columbians are cutting back on travel and experiences.
• 51: Per cent of British Columbians surveyed are cutting back on restaurants, take-out and coffee shops.
• 34: Per cent of British Columbians surveyed expect their personal debt situation to improve over the next year.
• 52: Per cent of British Columbians surveyed said they’ll be in hot water if interest rates rise.
• 200: Dollars. That’s how close 43 per cent of British Columbians are from insolvency each month.