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Amanda Lang (again) re. how much Canadians worry....

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Jan 14, 2020 - 3:59:40 PM

Owen

Canada

4661 posts since 6/5/2011

..about their finances.  https://www.facebook.com/watch/?v=711914959658452     Off the top of my head the actual times sound higher than I would have guessed... other than the Kweebeckers.  But.....what do I know?   I haven't tried to find any comparable surveys from any other countries, but it might be interesting.   I wonder if this "problem" is more prevalent in first world (?) countries.

Jan 14, 2020 - 4:43:13 PM
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Brian T

Canada

15981 posts since 6/5/2008

The per capita debt load in Canada never fails to amaze me.
Discounting motgages, it's crept up to or has passed $30,000.
That's the average. The average.

I'm beginning to wonder if StatsCanada and/or the Bank of Canada have their facts straight.

I'd be scared spitless with that kind of a burden in my pocket.
My debt load is zero. Very useful and interesting POV now.

Jan 15, 2020 - 10:47:28 AM

Paul R

Canada

12053 posts since 1/28/2010

We were able to clear our Toronto home's mortgage in eight years - and that was at the then-cheap rate of about 13%. This house was paid for by the Toronto house ($459,000 from a house that was $95,000 when we bought, on a 25 foot frontage lot, $335,000 for a house twice the size on 3/4 acre here). Our big debt now is the car, the only one we've needed to finance - two years left out of three.

We live in a society where we're conditioned to spend, spend, spend. Gotta keep up with the latest fads, er, trends. Who lines up overnight for the latest tech gadget that will be "obsolete" in a few months?

Jan 15, 2020 - 5:51:36 PM

Owen

Canada

4661 posts since 6/5/2011

.... I gather she's talking only about private finances.   When you add in the time we all spend worrying about the public debt.... I'm relieved I'm  retired, as when you add the two together It wouldn't leave much time for work.

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