The holiday season brings with it significant financial demands on many Canadians, as they try to avoid adding to their personal debt loads, while also funding family gift and travel expectations. In addition to the spending stress, the holidays also bring a litany of predictable media stories around budgeting, savings tips and the impact of the holiday season in creating a ‘debt hang over’ felt by many in January. What many don’t stop to reflect upon in all of this festivity, however, are the social implications of rising personal debt loads on our communities. Heading into this holiday season, Canadians […]
Life is busy, people want to move fast and shop fast. Consumers move through stores in a blur, grabbing their purchases, checking their phones and watches, tapping their feet and shuffling in impatience waiting for the line to move. They want to cash out and get on to the next task. Digital wallets and cashless buying is becoming more popular as a payment method and the biggest reasons are speed and convenience and can have a major impact on your debt load if not monitored properly. Retailers like that cashless payment is faster at the register so they can move […]
With average Canadian consumer debt load at an all-time high of close to $29,000, debt stress is becoming a contributing factor in lost productivity and lowered morale found in workplaces across Canada. Many households are earning less after taxes and ending up with more debt problems trying to juggle home, life and work responsibilities. For those in financial trouble, constant worry and frustration can lead to feelings of sadness, depression or anger. Stress has also been repeatedly linked to poor health, fatigue, anger, depression, heart attacks. Dealing with financial pressure can affect us profoundly in many ways. Learn more about […]
November celebrated Financial Literacy month in Canada, a time when various organizations and businesses come together with events geared towards increasing financial education for all Canadians. The initial strategy this year focused specifically on the financial strain and rising bankruptcy rates facing seniors in our country. To see evidence of the debt Canadian seniors are struggling with, you only have to look at your closest Walmart. More and more seniors are finding themselves having to seek part-time work after they’ve retired. This is a new trend that has not been seen in previous generations. So what has changed? Why are […]
Financial Literacy is having knowledge and skills needed to make responsible financial decisions. Have you tested your financial literacy?