credit card debt
The younger generation has the digital tools to analyze their finances.
"It’s definitely an odd situation" unlikely to reoccur, a financial expert says.
Interest charges are part and parcel of using a credit card. For the privilege of fronting you cash, lenders tack on interest to the amount borrowed. Credit card interest is calculated daily, charged monthly, at a yearly rate -- typically 19.99% for most rewards credit cards in Canada.
Nearly as many regret the debt they've taken on.
Credit bureau TransUnion warned us this would happen.
Because who wants decades of personal debt?
November was Financial Literacy Month in Canada, a time for all Canadians to focus on better management of our individual financial goals. Credit plays an important role in living a focused and healthy financial life. Having good credit will help you qualify for a loan, mortgage, or credit card.
Wedding debt is an awful gift to receive after you say I do. It is also a stressful way to start your marriage especially when the number one reason for a marriage to fall apart is not because of infidelity -- it is because of money woes.
But a majority are actually reducing their debt.
There is "a gradual shift" to riskier borrowers in Canada.