When it comes to debt, Canadians are doing quite well. According to a report by Equifax, the average non-mortgage debt per consumer was $20,774 as of March 2022. There are some variations among different age groups.
For example, based on Canadian credit card statistics, the average debt for people aged 18-25 is $8,129, while the average debt for people aged 26-35 is more than doubled, at $16,832. The numbers also show that people between 46 and 55 years of age have the highest average debt, at $31,442.