Timmins

Credit Counselling and Debt Solutions for Relief

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Timmins, Ontario, is known for its mining history and outdoor activities, yet residents face financial challenges due to rising housing costs and high interest rates. Despite an increased minimum wage, many struggle with everyday expenses. As job stability varies, effective budgeting and debt management are crucial for those seeking debt relief in this community.

City: Timmins
Province/Territory: Ontario (ON), Canada
Est. Population: 41,145

Financial Challenges

Living in Timmins can be tough if you’re struggling with money. The cost of renting a home has gone up, so it takes more of your paycheck to pay for a place to live. Even though the minimum wage increased to $20.30 per hour in 2024, many people still find it hard to cover everyday expenses like food, transportation, and utilities. High interest rates also make borrowing money more expensive, which can lead to more debt and stress.

Working in Timmins might not always help ease these financial pressures. While there are new jobs being created and the government is investing in the community, not everyone can find a stable job with a good salary. This means that budgeting carefully becomes very important. People often have to manage their money tightly, cutting back on things they want to buy and finding ways to save wherever they can. Managing debt and planning finances carefully are essential steps to help get through tough times in Timmins.

Debt Relief Solutions Available

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Debt Data

This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.

_{The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.}

Areas / Neighbourhoods

• Timmins Junction: A significant area known for its connectivity and ease of access to various amenities, including shopping and dining options. It’s a bustling hub for both residents and visitors.

• Porcupine: A residential suburb of Timmins that features a mix of families and retirees. This neighborhood offers a serene environment close to nature, with numerous trails and parks.

• South Porcupine: This area is recognized for its community spirit and features a variety of local shops, schools, and recreational facilities. It is a great place for families and those looking for a close-knit community vibe.

• Gillies Lake: A picturesque neighborhood centered around Gillies Lake, famous for its walking trails and green spaces. It’s ideal for outdoor enthusiasts and those looking for leisure activities.

• Cochrane Avenue: A lively area characterized by a mix of residential and commercial properties, providing convenience to residents. The proximity to various services makes it a popular choice for newcomers.

• Mountjoy: Known for its residential neighborhoods, Mountjoy is home to many parks and schools and is ideal for families. Its close proximity to downtown Timmins adds to its appeal.

• Schumacher: A historic neighborhood with a unique charm, Schumacher provides a range of housing options and recreational facilities. It has a vibrant community atmosphere and rich mining history.

• Timmins Downtown: The heart of the city, this area showcases local businesses, cultural attractions, and dining options. It’s a bustling space that hosts events and is pivotal for the city’s growth.

• Broadway Avenue: A main thoroughfare in Timmins, it’s known for its variety of shops, restaurants, and entertainment options. This area attracts both locals and visitors looking for a lively atmosphere.

• Golden Avenue: This residential area offers a family-friendly environment with parks and recreational facilities nearby. The community is known for its welcoming spirit and tight-knit feel.

_{Illustration of Timmins, Ontario, Canada}

Cost of Living

This table provides a breakdown of various average cost-of-living expenses in Timmins, Canada to help understand the financial requirements for different living situations.

_{The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.}

Top Questions

1. What is the average cost of living in Timmins, Ontario?
2. How has the economic outlook for Timmins changed in recent years?
3. What are the primary sources of employment and economic activity in Timmins?
4. What financial assistance programs are available for residents of Timmins facing hardship?
5. How do housing prices in Timmins compare to other cities in Ontario?
6. What are the average income levels for residents in Timmins?
7. What are the key financial challenges faced by residents in Timmins?
   

If you have a question about debt see our debt related question or ask your own debt related question.

Overview

Located in northeastern Ontario, this city is known for its rich mining history and vast natural beauty, surrounded by forests and lakes. It serves as a hub for various outdoor activities like hiking, fishing, and snowmobiling, making the region popular for nature lovers. The area has a strong sense of community and offers various cultural events, reflecting its diverse population. Additionally, the local economy is supported by mining and related industries, while the city continues to develop its infrastructure to accommodate future growth.