Are you saving enough for retirement?

[Reggie28]

Originally Posted by Brupal

The average Canadian credit card debt for Q3 2025 is $22,321, with the average debt per customer at $4,652. Debt levels vary significantly by age, with the 46-55 age group having the highest average debt at $34,987 and the 18-25 age group at $8,635.
Overall Average (Q3 2025): The average credit card balance per Canadian is reported as $4,652. Another source gives a figure of $22,321 for the average debt across all Canadians in Q3 2025.
Average by Age Group (Q3 2025):
18-25: $8,635
26-35: $17,603
36-45: $27,263
46-55: $34,987
56-65: $29,772
65+: $15,121

Looks like a LOT of people could use that first $30k to slap down on the good old Visa

I think the $22,321 number is consumer debt, which is basically all debt excluding mortgages.

I also believe the $4652 credit card number is just the current balance on your cards, when I look at my credit report, my credit card balance is listed as debt (which it is), however it is automatically paid every month.

Like anything, the devil is in the details, personally I have a home loan that is structured as a line of credit and an investment loan that is classified as a personal loan. My contribution to “consumer” debt may be (home loan+investment loan+current credit card balance), when each of those debts are being used to my advantage and are not truly what I would consider consumer debt.

AI overview

Consumer debt in Canada refers to all money owed by individuals, including credit cards, auto loans, and personal loans, but typically excluding mortgages. As of late 2025, total consumer debt was around $2.6 trillion, with significant portions including mortgages and non-mortgage debts like credit cards and car loans. The recent increases are partly due to high inflation and the need for financing for essential goods and services.

In the third quarter of 2025, Canadian consumer debt reached a record $2.6 trillion, a 4.1% increase from the previous year, primarily driven by a rise in mortgage balances. Average non-mortgage debt per consumer was around $22,147 in Q2 2025, while household credit market debt approached $3.1 trillion. Canadians' top financial priority for 2025 was paying down debt, though some subgroups saw increased credit card spending.

[Fuzz]

Ya, it would make sense something like an auto loan would make a big chunk of that for a lot of people. I assume those values aren't taking into account the asset value (not that vehicles are usually great assets).

[malcolmk14]

We bought a $73k car in April and put about $17k of it on a personal line of credit. Paid the rest cash. So I guess on paper we have $17k of consumer debt but it doesn't feel like it.

[Locke]

Originally Posted by malcolmk14

We bought a $73k car in April and put about $17k of it on a personal line of credit. Paid the rest cash. So I guess on paper we have $17k of consumer debt but it doesn't feel like it.

$73K car? And here I thought you said that Teachers dont make enough money??

[malcolmk14]

Originally Posted by Locke

$73K car? And here I thought you said that Teachers dont make enough money??

Haha, I'm not the money maker in my house. Also teachers make way too much.

[kevman]

Originally Posted by Locke

$73K car? And here I thought you said that Teachers dont make enough money??

I mean $73k is probably just a base Civic these days.