Advertisement
Here's a roadmap with information on what typical life milestones cost and how much you should save per paycheque for each.
A new poll by TD Canada Trust shows Canadians are struggling to finance some of life’s biggest milestones on their own. To fill the gap, young people are turning to family and friends, credit cards and loans to cover the costs.
According to the bank, the majority of Canadians are comfortable taking on debt when it comes to financing a down payment on a home (61%), buying their first car (57%), starting a family (46%) and paying for their wedding/honeymoon (38%).
In an effort to help Canadians avoid taking on too much debt (as a general rule, monthly debt payments should equal no more than 40% of gross monthly income) the bank came up with a roadmap with information on what typical milestones cost and how much you should save per paycheque.
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Here’s how to get your free ticket to attend the MoneyShow virtual expo.
A new Desjardins report predicts rent inflation will slow in the next few years.
The federal government’s capital gains inclusion rate increase has yet to become law. There’s a slight chance it may...
Experts say Donald Trump’s promised policies risk higher inflation and could weigh on the Canadian dollar.
Sponsored By
Coast Capital
Inflation is down, wages are up. But the economic recovery has been uneven, with “two contradictory trends” shaping Canadians’...
While not guaranteed like an annuity, MyRetirementIncome is a flexible and simple financial product for those needing to convert...
