"But this year, more than a quarter of the clients he saw in his Calgary office were under the age of 35. "They'll come in and sometimes they'll cry, sometimes they'll be angry, they'll be very, very frustrated because they don't know why their life's on hold," said Kalinowski. The Credit Counselling Society the debt management non-profit where Kalinowski works served more 18-to-34-year-olds in 2025 than at any other point in its history, its spokesperson told CBC News."
"Some are facing the daunting task of managing a credit card for the first time. Still others are navigating the high cost of living against slow-growing wages. As if that weren't enough, Kalinowski and other experts say the ubiquity of "buy now, pay later" plans are compounding the problem and fuelling a debt crisis among 20 and 30-somethings. "I won't say that they feel hopeless, but they do feel a little bit lost and they're not sure how to gain traction," said Kalinowski."
More than a quarter of clients in one Calgary credit counselling office were under age 35. The Credit Counselling Society served more 18-to-34-year-olds in 2025 than at any other point in its history. Many young adults carry large student loan balances. Some are managing a credit card for the first time. Others face high living costs while wages grow slowly. Ubiquity of buy-now-pay-later plans compounds debt burdens and fuels a crisis among people in their 20s and 30s. Young clients often arrive distressed, frustrated, and uncertain how to regain financial traction. Debt frequently stems from consumption smoothing to cover bills rather than discretionary spending.
Read at www.cbc.ca
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