Canada Debt

Financial Literacy In Canada Is A Farce

Justin Thouin | Posted 05.08.2017 | Canada Business
Justin Thouin

There have been government committees, discussions with the private sector and even a national strategy to teach Canadians basic personal finance. But when Statistics Canada data showed late last year that Canada's household debt is now larger than its GDP, it became painfully apparent that we're failing.

Will Basic Income Increase Or Decrease Bankruptcies?

Douglas Hoyes | Posted 04.25.2017 | Canada Business
Douglas Hoyes

The Ontario government just announced a pilot project to test a basic income for low-income earners in Hamilton, Brantford, Lindsay and Thunder Bay. Will the program be successful? I have no idea. The answer will, in large part, depend on what will be measured.

Housing Speculation An Addiction Canada's Economy Can't Kick

Wolf Richter | Posted 04.17.2017 | Canada Business
Wolf Richter

The entire economy - including government revenues and thereby the services offered by these governments - depends on wild property speculation. And everyone is praying that it can somehow be maintained.

Kid Off To University? Give A Lesson In Money Management

Jeffrey Schwartz | Posted 04.06.2017 | Canada Parents
Jeffrey Schwartz

Parents, I know you may be a little anxious leading up to your child's big day in September. But if you take the necessary steps now to prepare your child for school, the whole transition will be less taxing on everyone.

Start Questioning Everything About How And Why You Bank

Emily Cornelius | Posted 03.18.2017 | Canada Business
Emily Cornelius

Why is it that very few of us actually take the time to sit down and actually assess our savings, spending and banking options until we want to buy a home or we begin to think about our retirement savings? Are companies profiting from our ignorance? Are they "banking" on it?

How To Protect Yourself From Becoming A Victim Of Identity Theft

Jeffrey Schwartz | Posted 03.15.2017 | Canada Business
Jeffrey Schwartz

I know no one wants to think they could ever be a victim of fraud however the reality is thousands of Canadians lost more than 10 million dollars to identity fraud in 2014 and authorities say this figure is on the rise year after year. The sad thing is some Canadians do not even know they are the victim of fraud until something extreme happens.

Canadians' Household Debt Hits Yet Another All-Time High

CP | The Canadian Press | Posted 03.15.2017 | Canada Business

We have $1.67 in debt for every dollar of disposable income in this country.

Highs And Lows Of The 2017 B.C. Budget

Dermod Travis | Posted 03.02.2017 | Canada British Columbia
Dermod Travis

If last year's provincial budget could be described as "petty" after Finance Minister Mike de Jong doled out an increase in assistance rates for those living with disabilities -- only to claw most of it back by ending the subsidized bus pass program -- this year's budget could best be described as "petulant."

It's Time For Ontario To Cap All Classrooms At 20 Students

Ingrid Bergman | Posted 02.22.2017 | Canada Politics
Ingrid Bergman

I don't want a four per cent raise. I want better learning conditions for our students and better working conditions for us. Most of all, I want to work on regaining the trust of the public again. Ontario has the greatest sub sovereign debt in the world. I don't want to leave that legacy for my own children or for my students.

Minor Tweaks Won't Solve The Payday Loan Crisis

Douglas Hoyes | Posted 02.22.2017 | Canada Business
Douglas Hoyes

Payday loans are a problem, because as all astute readers will have already surmised, "$18 on a hundred" isn't as good as it sounds. If you borrow and repay every two weeks, it is the equivalent of an annual interest rate of 468%. How does that impact borrowers?

Your Guide To An Affordable Valentine's Day

Jeffrey Schwartz | Posted 02.03.2017 | Canada Living
Jeffrey Schwartz

Let's be real -- Valentine's Day used to be about showing love and affection to the love of your life, now it has grown to a billion dollar holiday.

The Snowball Method Can Help You Put Your Debt On Ice

Avraham Byers | Posted 01.11.2017 | Canada Business
Avraham Byers

If I gave you $500 a month to put towards your debt, what's the best way to use it? Should you chisel away at the debts with highest interest rate? Or knock off the smaller ones first? The answer might surprise you.

Are We In Too Much Debt?

Salman Sakir | Posted 01.10.2017 | Canada
Salman Sakir

Debt is necessary for households to build assets and improve human capital while for the government, it facilitates government investment in the society. Debt helps companies to grow and develop. However, excessive debt held by households, companies or the government may create potential financial or economic instability.

Paying Down Debt Is The Top Financial Resolution, Again

Douglas Hoyes | Posted 01.03.2017 | Canada Business
Douglas Hoyes

As we start a new year, we have yet another new poll about how Canadians are once again listing paying down debt as their top financial priority for 2017. This survey, from the CIBC, says that for the seventh straight year concerns about debt were a top concern for most Canadians.

Nearly Half Of Canadians Not On Top Of Bills, Debt: CIBC

CP | The Canadian Press | Posted 12.29.2016 | Canada Business

Overspending is becoming a major problem.

Cut Down Your Holiday List Without Looking Cheap

Jeffrey Schwartz | Posted 12.06.2016 | Canada
Jeffrey Schwartz

Holiday gift giving can be really stressful, so now it's time to take a different approach. Let's take a step back this year and take a frugal approa...

Even With Low Interest Rates, Federal Deficits Are A Concern

Jasmin Guénette | Posted 11.04.2016 | Canada Business
Jasmin Guénette

The federal deficit is rising, far beyond the $10 billion projected in the Liberal's election platform. The stated purpose of running $130 billion of deficits over five years is to stimulate the Canadian economy, whose prospects for growth are deteriorating.

Canada Won't Ride Out Another Financial Crisis Like Last Time: HSBC

The Huffington Post Canada | Jesse Ferreras | Posted 10.14.2016 | Canada Business

For a number of reasons.

Federal Government Totally Misses The Point On New Mortgage Rules

Douglas Hoyes | Posted 10.04.2016 | Canada Business
Douglas Hoyes

Under new mortgage rules just announced by Finance Minister Bill Morneau, all insured mortgage borrowers must now pass a "stress test" proving that they can carry a mortgage at a realistic rate (the Bank of Canada's conventional five-year fixed posted rate), and not simply the "teaser" rate offered for a short period by the mortgage lender.

Stay In The Black This Holiday Season

Jeffrey Schwartz | Posted 09.27.2016 | Canada Living
Jeffrey Schwartz

Instead of drawing a forgone conclusion that you'll spend hundreds to thousands of dollars just because it's the holidays -- let's find another way. No one likes the impending debt emergency in the new year. To avoid spending beyond your means, now is the perfect time to get your financial house in order and save for the holidays.

Reining In Payday Lending Should Be Top Of Mind For Ottawa

Jerry Buckland | Posted 09.19.2016 | Canada Politics
Jerry Buckland

Sherry's financial needs were not met through payday loans, but made worse by them -- and, as a result, she and her family were caught in a long-term cycle of debt from which they could not escape. Unfortunately, Sherry's form of repeat payday loan borrowing is common and it can sink families into poverty.

Canadians' Household Debt Is Bigger Than The Whole Economy Now

CP | Craig Wong | Posted 09.18.2016 | Canada Business

Households owe about $1.68 for every dollar of disposable income.

Even A Small Rate Hike Could Be Trouble For 1 Million Canadians

CP | The Canadian Press | Posted 09.13.2016 | Canada Business

How long can super-low interest rates last?

B.C. Government Throws The Dice In India With Taxpayer Money

Jordan Bateman | Posted 09.12.2016 | Canada British Columbia
Jordan Bateman

B.C. has become the first foreign government to issue a Masala bond in India. Essentially, B.C. took on $97.5 million in debt and immediately reinvested that money not in B.C. infrastructure or something that would help B.C. taxpayers, but in the Housing Development Finance Corporation (HDFC) Limited of India.

Half Of Working Canadians Live Paycheque To Paycheque

CP | The Canadian Press | Posted 09.07.2016 | Canada Business

And 39 per cent are "overwhelmed" by debt.