Canadians continue to pile on debt, $1.5 trillion to be exact. How are your clients managing?
Canadians continue to pile on debt, $1.5 trillion to be exact. How are your clients managing?
Equifax reports that total debt increased by 7.4% in the past year with almost $1 billion in mortgages. Excluding mortgages, the average Canadian has just less than $21,000 in debt.
Interestingly, one-quarter of the respondents to Manulife Bank’s recent debt survey don’t consider mortgages and car loans to be debt. If you believe that, Canadians really have nothing to be worried about.
Is there reason for concern? Click here to take our poll.
Equifax reports that total debt increased by 7.4% in the past year with almost $1 billion in mortgages. Excluding mortgages, the average Canadian has just less than $21,000 in debt.
Interestingly, one-quarter of the respondents to Manulife Bank’s recent debt survey don’t consider mortgages and car loans to be debt. If you believe that, Canadians really have nothing to be worried about.
Is there reason for concern? Click here to take our poll.
