Three out of five North Americans have failed to meet their financial goals this past year, but less than one quarter (24%) are remedying the problem by adjusting their spending and saving habits.
It seems Canadians have taken Ottawa’s warning on debt to heart. They are getting the message that their debt levels are unsustainable and are holding off making big financial commitments such as buying a car, a house and electronics, according to a survey by PwC.
Murphy’s Law says anything that can go wrong, will go wrong. Yet many Canadians aren’t heeding this warning when it comes to their finances.
The majority of Canadians (86%) expect mortgage rates to be higher over the next 12 months, while half (50%) would choose a fixed rate mortgage if deciding today, according to a CIBC Poll conducted by Harris/Decima.
Can governments fix a financial slump? Or does that drive nations deeper into debt?
Pressure to repay relatively small loans has driven over 200 borrowers in southern India to take their lives.
Canadian household indebtedness, as measured by the ratio of household debt to personal disposable income, currently stands at 153% and is expected to continue to rise.
Before popping the big question, Canadians may want to double-check their credit history and bank statements. According to a recent poll by TD Canada Trust, how you manage your finances may determine whether or not you land the love of your life.
The true cost of debt—to truly help clients understand, advisors need to factor in taxes
In 2012, giving your clients the advice they need can help them pay off more debt, and less debt is certainly smart way to gain more wealth!