A recent poll finds that Canadians are lowering their personal debt through less spending – but they continue to be anxious about their remaining debt levels.
Thanksgiving offers the chance to catch up with loved ones – and money is a subject sure to crop up at the dinner table. Whether you’re fielding questions about your income, or discussing matters such as inheritance or parent care, read our tips for a productive – and peaceful – money discussion.
A new poll finds 92 per cent of Canadians would willingly take out debt – even when it’s not absolutely necessary. Canadians may be more comfortable living with their debt – and as a result, we’re maxing out faster.
Daily deal sites are full of discounts so great, you can’t help but snap them up. Before you rush to buy the next spa or trip package to come your way, though, ask yourself: are you overestimating the deal – and is it feeding your overspending habits?
Carrying debt = bad, right? Seems like it, according to personal finance 101. But did you know that not all types of debt are created equal – and that certain types can actually increase your wealth? Understand the difference between constructive and deconstructive debt – and how to avoid the latter.
According to the Canadian Bankers Association, Canadians collectively held 74.5 million Visa and MasterCard credit cards in 2011. That works out to nearly three cards per adult. And that’s just Visa and MasterCard cards. With millions of retail cards issued by stores like the Hudson’s Bay Company and The Brick and it’s no wonder our wallets are bulging, even if there’s no cash in them. But how does this compare to others countries? And what are the implications of our addiction to credit?