Haves & have-nots
What portion of Canadians are indebted and how much do they owe?
Why are mortgages so expensive in Canada?
Created By
Ratehub.ca
- Talk about a mixed headline. More Canadians are debt-free this year (26%) than last year (22%) but those who do owe money are carrying slightly heavier loads, according to RBC’s annual debt poll. Indebted Canadians on average owe $13,141 in non-mortgage debt, up $84 from 2011. Four-in-ten say they’re comfortable with their debt load while 34% say it causes them anxiety. Here’s a snapshot of consumer debt loads by province.
- A new U.S. survey suggests 22% of Americans could not make ends meet without access to credit. A full third of respondents said they don’t pay their bills on time, the National Foundation for Credit Counseling said. If you fall into this group, it’s time re-evaluate your spending and perhaps consider a low-rate credit card.
- Buy cheap? Buy twice, the Canadian Finance blog reminds us about consumer goods. We couldn’t agree more which is why we started The Perfect Price series a few months back. Take the guess work out of buying suits, sunglasses, shoes and more.
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
How to plan for retirement when you have no pension
Practical advice on how to build your retirement savings for employees at mid-career, the self-employed, single parents and more.
Canada’s inflation rate increased to 2% in October
Canada’s inflation rate rose to 2% last month, up from 1.6% in September, but a December interest-rate cut is...
Inflation is on target in Canada, so why is food (and other stuff) still so expensive?
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
Estate planning for singles—is a trust company the answer?
Canadians with no children or siblings must consider estate planning alternatives. Here’s why trust companies can be a good...
The best high-interest savings accounts in Canada for 2024
Whether you want the highest interest rate or no service fees, these savings accounts will meet your needs.
The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Buying ETFs in Canada Tool: The MoneySense ETF Screener
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
Making sense of the markets this week: November 17, 2024
The Trump effect and Trumponomics, Shopify’s huge earnings beat, it’s sunny days for Suncor shareholders and more.
MoneySense at the MoneyShow: Capital gains and ETF sessions
Here’s how to get your free ticket to attend two MoneyShow virtual expos.