With the Bank of Canada holding interest rates at record lows of just 0.5 per cent, many British Columbians are on a credit spending binge, using home equity as a means for taking on more debt.

With interest rates sitting at the bottom or the barrel, many British Columbians have felt free to spend as they please, dipping further and further into credit reliance in order to keep up spending habits.

As the real estate market in British Columbia continues to create demand and increase property value and interest rates sit at rock bottom prices, many home and investment property owners throughout the province have allowed themselves indulgent consumer spending based on the certainty of having value in real estate to fall back on.

According to the Office of the Superintendent of Bankruptcy Canada, bankruptcies in B.C. are in decline. While this may sound like hopeful news in a struggling economy, MNP’s Lana Gilbertson warns this could be a sign of trouble on the horizon for British Columbians.

Even while many Canadian consumers are struggling under a sluggish economy and increased unemployment, many were not deterred from sloshing into the snow to hit the stores for seemingly ‘once in a lifetime’ deals.

While credit can be helpful in a pinch, credit reliance can quickly become a dangerous cycle that's difficult to get out of when there's no longer a steady income coming into the household.

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...

The third Monday in January was coined ‘Blue Monday’ as it’s earned a reputation as being the most depressing day of the year. For many Canadians already low on Vitamin D after braving months of a Canadian winter, having bills roll in from holiday expenses can feel overwhelming to say the least.

The third Monday of January is coined “Blue Monday” because it is apparently the saddest day of the year. Pairing a Canadian winter with all the bills rolling in from the holidays, makes the term quite fitting.

Federal and provincial student loans have enjoyed a special status over the years. The answer to the question of what debt solutions are available to you in the case of student loan debt, is not a simple one depending on the length of time you have been out of school.