Debt can make people desperate for financial change — some may even resort to using extreme measures to do so.
Popular social media account @morganresets brought this reality to light when she posted a TikTok video asking fellow users how they recommend she deal with her $80k in debt in “unhinged” ways. They took the callout seriously and responded with some wild stories.
It’s common for TikTok to be a sounding board for financial advice, but not all of it is practical or even helpful in some cases. Some of the responses to this video highlight the issue with going to social media for all your financial advice.
How TikTokkers responded
Some of the oddest anecdotes for dealing with four-, five- or even six-figure debts racked up hundreds or thousands of likes. One comment with over 32,000 likes stated a user hit a scratch ticket jackpot worth $50k and paid off their debt.
Another mentioned selling plasma “twice a week for over two years” making $12k in the process.
Another user who was allegedly 150k in debt “sold everything and lived out of my car for a year” to pay off creditors, he said.
While these responses aren’t realistic or attainable for the average person, they do bring out an important truth: debt is a common plight for numerous people across the world — Canada included.
The Canadian debt landscape
Unfortunately, recent data is suggesting that Canadians are continuing the struggle with consumer debt, some more than others.
TransUnion’s 2025 Q1 Credit Industry Insights Report found that outstanding Canadian credit balances reached $2.5 trillion, up 4.7% year-over-year. Gen Z consumers had their outstanding balances balloon by over 30% from last year, making up over 10% of the credit balance growth.
From a more “on the ground” view, many Canadians report struggling with debt on a frequent basis. “I see about six or more clients a day and about two out of the six would say things are tight and one pay cheque away from a disaster,” Doris Asiedu with Credit Canada told CTV News.
President of BDO Canada, Paul Ihnatiuk also shared concerning statistics with the news outlet. “Household debt is now at a rate of 173.9%. What that means is on average when Canadians earn a dollar of disposable income, they now owe a $1.74 in debt,” he said.
In short, Canadians are swimming in debt. What can they do about it?
How to manage your debts the non-TikTok way
Aside from a few mentions of Dave Ramsey’s famous [debt repayment strategies])(https://money.ca/managing-money/budgeting/dave-ramsey-gives-florida-man-reality-check?throw=MOCREV_mm), many TikTok commenters didn’t share prudent advice on paying off debt. But that doesn’t mean there aren’t some tried, tested and true strategies to help anyone struggling to get out of debt. To help, here are some of the better strategies:
- Contact your creditors. Some financial institutions may offer lower interest rates or extend repayment periods to struggling consumers.
- Find a credit counsellor agency. A credit counselling agency (CCA) can provide one-on-one counselling services, workshops and other advice to help you manage debts in difficult times. Another key feature of CCAs is their creation of debt management plans, which are informal prepayment plans that consolidate your debts into a single affordable payment.
- Restructure your spending. Instead of repaying your debts without changing your spending habits, adjust how you spend. A common model is the 50/30/20 approach: 50% of your income on essentials, 30% on your wants or unnecessary items and 20% to pay down your debts.
How to avoid falling into debt
Managing ongoing debts is one thing, but not getting to a place of financial security is another. Here are some tips to help you avoid bad debts (and the financial insecurity that goes hand-in-hand with this type of debt:
- Save for emergencies. Building an emergency fund of three-to-six months’ worth of expenses provides a cushion for when times get tough — instead of turning to a loan.
- Steer clear of pay later plans. If you can’t afford to buy something immediately, you probably shouldn’t purchase it. Don’t fall into the trap of “buy now pay later” plans for unnecessary or non-investment items.
- Create a budget. Not knowing where your money is going is a surefire way to hemorrhage any funds you have after paying for necessary expenses. Create a solid budget — maybe with a budgeting app — so you know exactly what you’re doing with your paycheck.
Don’t turn to TikTok comments for financial wisdom
TikTok is bursting with interesting narratives, amusing anecdotes and viral dances. But reasonable debt mitigation strategies are harder to sift out, especially in the comments section. Let’s use the TikTok comments section for what it was designed for: entertainment.
Sources
1. TikTok: What’s the most unhinged way you’ve paid off debt?? I’m talking selling furniture while sitting on it, cutting your own hair instead of therapy, canceling every subscription you can think of. Give me YOUR methods. I’ll try anything., by @morganresets (Jun 11, 2025)
2. TransUnion: Canadian Credit Market Reaches $2.5 Trillion in Outstanding Balances, with Gen Z Canadians Accounting for 10% of Credit Growth (May 28, 2025)
3. CTV News: Canadians are falling further into debt, data shows, by Emma Convey (Jun 25, 2025)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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