Canadians Equally as Likely to Be `Anxious' (38%) or `Comfortable' (38%) with Their Current Debt Level,
While One Quarter (24%) Have no Debt

Toronto, ON - According to the results of a new study conducted by Ipsos Reid on behalf of RBC's and its 3rd Annual Debt Poll, Canadians finding themselves in debt have been turning to old-fashioned remedies, such as cutting back on spending and postponing spending on big items, to help them reduce debt levels - and they're equally as likely to be anxious as comfortable with their current debt level.

One-quarter (24%) of Canadians indicate not having any personal debt, down 2 points from 2012. Three in four (76%) Canadians have debt, however, with equal proportions (38% vs. 38%) being `anxious' (12% great deal of anxiety/27% some anxiety, up 4 points from last year) and `comfortable' (17% very comfortable/21% somewhat comfortable, down 2 points from last year) with their current level of debt.

Focusing specifically on Canadians who have actually been able to decrease their debt level over the past 2 years, going back to basics appears to have worked best. The majority (62%) of Canadians who've lowered their debt in the past 2 years say they've done so by `spending less', while one in three (32%) have `postponed spending on big items and saved up instead'. Other ways Canadians have been able to decrease their debt load include...

• Work more hours - 16%
• Had a `stay-cation' instead of going away for a vacation - 16%
• Consolidated their personal debt for easier payments - 11%
• Started making automatic payments - 11%
• Cut up their credit card - 10%
• Received a gift of money - 8%
• Liquidated some of their assets - 8%
• Got a higher paying job - 8%
• Got advice from their bank or credit counselor - 7%
• Took on a second job - 5%
• Borrowed from their family or friends - 5%
• Contacted a trustee for assistance with their debt - 3%
• Other - 16%

Current Debt Levels...

The average Canadian indicates having approximately $15,920 in carried debt (which doesn't include a mortgage), up $2,779 from 2012 ($13,141) with this increase appearing largely driven by debt levels carried in Western Canada rather than Eastern Canada.

Faced with regional floods this year, Albertans saw the largest debt increase from 2012, going from approximately $14,881 last year to $24,271 (an increase of $9,390). Following Albertans are British Columbians ($11,262 in 2012 to $15,549 in 2013, an increase of $4,287) and residents of Saskatchewan and Manitoba ($11,503 in 2012 to $15,165 in 2013, an increase of $3,662).

Ontarians saw the largest increase in debt within Eastern Canada (increasing $2,055 to $17,416 this year), followed by Atlantic Canadians (increasing $1,591 to $15,243 in 2013), while Quebecers saw only a small increase in carried debt (up $287 to $10,458).

These are some of the findings of an Ipsos Reid poll conducted between August 22nd to 27th, 2013 on behalf of the 3rd Annual RBC Debt Poll. For this survey, a sample of 2,108 Canadians from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/- 2.4 percentage points had all Canadians adults been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Sean Simpson
Vice President
Ipsos Reid Public Affairs
416.572.4474
[email protected]

About Ipsos Reid

Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

To learn more, please visit www.ipsos.ca.

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of Synovate. The combination forms the world's third largest market research company.

With offices in 85 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of e1,789 billion (2.300 billion USD) in 2012.