If you are one of the nearly three-quarters of Canadians that have some type of outstanding debt – saving money might seem inconceivable. But financial advisers stress the importance of having emergency savings – even a small amount.
The rising cost of homeownership in Canada is affecting the rental market. The cost of rent is heavily influenced by housing affordability and the amount of rental units available. This is the making of a perfect storm that can lead to an increased debt load just to keep a roof over our heads. When your living expenses are increasing it’s important to know where your money is going. Now is the time to take a deep dive into your expenses to find out how much debt you are accruing.
Very few people could have predicted the pandemic housing boom in Canada over the last year and a half. Homeowners have found that the equity in their homes has increased substantially. This has led many to wonder if they should utilize that equity to pay down their debts. But where do you start and what are the different options available to you?
Debt Matters Podcast is a forum dedicated to discussing consumer and household debt and strategies and ways of dealing with uncontrolled or problematic debt. We are launching our first episode soon. Stay tuned for updates!
