Yukon
Debt Management Canada - Expert Advice & Solutions
Facing debt challenges in the Yukon? Debt Insiders can guide you through the unique options available in your territory to help you manage your finances and reduce your debt.
Financial Challenges
Navigating the financial landscape can be a bit tricky up north. One of the standout issues in the territory is the high cost of living, driven largely by the increased expenses related to transport and goods supply. Since everything from groceries to building materials often travels long distances to get there, residents face higher prices at the checkout. Add in the harsh climate, and heating bills during the extended winter months can make quite a dent in anyone’s budget. Imagine footing those bills while also trying to save up for something fun—it’s like winter never ends!
Employment opportunities here can be another puzzle. While there’s a vibrant community of small businesses and tourism operations, it’s also true that the job market isn’t as diverse or large as in more southerly urban areas. Seasonal work is common, but for those seeking long-term or specialized employment, options can be limited outside of government positions. This can lead to financial instability for many families who might find themselves juggling multiple part-time jobs to make ends meet. So, while you’re packing thermal socks and preparing for adventure, keeping an eye on the job market is just as crucial!
Annual Debt Comparison
This table provides comparison of annual debt data in Yukon, Canada to help understand how debt and debt solutions are changing in the province.
| Debt or Debt Solution Item | 2022 | 2023 | % Change |
|---|---|---|---|
| Estimated population | 44,113 | 45,148 | 2% |
| Number of bankruptcies | 6 | 7 | 17% |
| Number of consumer proposals | 43 | 36 | -16% |
| Total number of insolvencies | 49 | 43 | -12% |
| Average bankruptcy asset amount | $10,667 | $21,597 | 102% |
| Average bankruptcy debt amount | $216,519 | $113,052 | -48% |
| Average consumer proposal asset amount | $69,201 | $158,363 | 129% |
| Average consumer proposal debt amount | $101,199 | $258,291 | 155% |
| Median after-tax income | $88,600 | $89,100 | 1% |
| Average debt amount | Not available | Not available | Not available |
Data sources include ised-isde.canada.ca, statcan.gc.ca and consumer.equifax.ca. areas.
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