Consumers In B.C. And The Burdens of Debt

2016-05-20

schedule minute read

Author: Linda Paul

MNP Consumer Debt Index

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.

Student in a library studying

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.

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