Debt

(Metro Creative Services photo)

Kelowna 5th in Canada for credit card debt: Study

The average outstanding balance per capita is $3,394 according to Money.ca

 

FILE - President Joe Biden speaks about student loan debt relief at Delaware State University, Oct. 21, 2022, in Dover, Del. (AP Photo/Evan Vucci, File)

The US is forgiving more federal student loans in a bid to tackle ‘unsustainable debt’ for borrowers

President Joe Biden outlined a new round of federal student loan forgiveness…

 

Falling Canadian loonies are pictured in Vancouver on September 22, 2011. Canada’s housing agency says the country has the highest level of household debt in the G7, making its economy vulnerable to a global economic crisis. THE CANADIAN PRESS/Jonathan Hayward

Canada has highest household debt level in G7: CMHC deputy chief economist

It makes Canada’s economy vulnerable to a global economic crisis

 

A February 2023 Telus Health survey indicates people with debt or financial uncertainty experience worse mental health than those with security. (Credit: Pixabay)

Debt, financial fears impacting Canadians’ mental health, survey finds

Those with financial uncertainty rated significantly lower on Telus Health’s mental health index

A February 2023 Telus Health survey indicates people with debt or financial uncertainty experience worse mental health than those with security. (Credit: Pixabay)
Insolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater. THE CANADIAN PRESS/Ryan Remiorz

Millennials dominate insolvencies as credit card, student loan, CERB tax debts add up

Study finds millennials 1.4 to 1.7 times more likely to file for insolvency than older generations

Insolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater. THE CANADIAN PRESS/Ryan Remiorz
(pixabay photo)

Tips on how to tackle your holiday debt in January

Looking back and forward can help get your finances where you want them

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Houses are seen on Squamish Nation land in North Vancouver, B.C., Tuesday, Feb. 22, 2022. Canada Mortgage and Housing Corporation (CMHC) says residential mortgage debt grew by nine per cent last year compared with a year earlier for the fastest pace of growth since 2008. THE CANADIAN PRESS/Darryl Dyck

CMHC says residential mortgage debt grew last year by fastest pace since 2008

Mortgage debt grew by 9 per cent last year, topped 10 per cent in the early months of this year

Houses are seen on Squamish Nation land in North Vancouver, B.C., Tuesday, Feb. 22, 2022. Canada Mortgage and Housing Corporation (CMHC) says residential mortgage debt grew by nine per cent last year compared with a year earlier for the fastest pace of growth since 2008. THE CANADIAN PRESS/Darryl Dyck
The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang

Bank of Canada says household debt and home prices key risks for financial system

Households have seen net worth increase of about $230,000 over the first two years of the pandemic

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang