As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses.
Credit can be a great solution for managing short-term necessities, but long-term credit dependency could lead to significant financial distress - especially if you're deep in the red when interest rates inevitably begin to rise.
The original article was posted online at Vancouver Sun on May 3, 2016.
CIRP, LIT
Senior Vice-President
Servicing: Abbotsford, Chilliwack, Maple Ridge, Surrey, Langley
2024-07-22
MNP Consumer Debt Index
Atlantic Canadians are feeling pessimistic about their personal finances, despite the recent interest rate cut by the Bank of Canada.
2024-07-22
MNP Consumer Debt Index
Atlantic Canadians are feeling pessimistic about their personal finances, despite the recent interest rate cut by the Bank of Canada.
2024-07-22
MNP Consumer Debt Index
Atlantic Canadians are feeling pessimistic about their personal finances, despite the recent interest rate cut by the Bank of Canada.
