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Credit Cards Aren’t Canadians’ Biggest Debt Problem

Credit-Cards-Arent-Canadians-Biggest-Debt-Problem_MoneyAccumulator.com_
I’ve been watching the situation of Canadian personal debt for a while, and it seems like it is getting bigger and bigger. This latest report shows a 3% increase in personal debt not including mortgages.

What most Canadians are failing to comprehend, is that all it takes for them to hit financial ruin is a loss of a job and a rise in interest rates. Most Canadians should think about trying to reduce their debt as much as possible as the next downturn in the economy is coming between 2014-2017.

http://www.theglobeandmail.com/globe-investor/inside-the-market/market-view-video/credit-cards-arent-canadians-biggest-debt-problem/article15583630/

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This entry was posted on Tuesday, December 3rd, 2013 at 1:32 pm and is filed under Debt Management, Economy, Personal Finance, Videos. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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