Manage episode 193571460 series 1243822
According to statistics, Canadians are deeper in the hole than ever before. Stats Can recently revealed that household credit market debt as a proportion of household disposable income increased to 171.1 per cent in the third quarter. That's up from 170.1 per cent in the second quarter. That means there was $1.71 in credit market debt, which includes consumer credit and mortgage and non-mortgage loans, for every dollar of household disposable income.
So, if the research shows that we are not handling our money correctly, then how can we communicate the proper way to handle our finances to our children? CKNW’s Tim Dickert had the opportunity to discuss this topic with Kim Thompson at Credential Financial.
In studio: Tim Dickert
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