Consumer Debt On The Rise, Is There An Answer?

Over the course of the last several months, there have been numerous articles written on the continuation of rising consumer debt in Canada. Clearly, this is not a new message by any stretch of the imagination.

In fact, the Canadian Government has been warning Canadians to reduce their debt for some time now; albeit the message seemingly falling on deaf ears.

The warning signs are clear, but why aren’t Canadians getting the message?

Ignorance…

perhaps they don’t even know why there is a problem?

maybe they dont know where to start

could it be they arent sure what to do about it

Our —-> Money In Your Mortgage <—- series is our contribution to help educate Canadians with what is likely their largest financial debt …Their Mortgage!

In speaking with many people under the age of 40, it seems that we all have a sense of entitlement to a certain standard of living, or lifestyle if you will.

Wheter it be those new jeans, a sorely deserved all inclusive vacation, or trip to Europe. Even the interior decor of their home, or further still a brand new vehicle, people tend to feel this sense of entitlement. Even if it does not seem possible to acquire them given the person’s current circumstance, access to credit does in actuality make it real.

Perhaps it is this sense of entitlement that is a key factor in a consumer’s purchasing decisions?

The Money In Your Mortgage series is designed to educate people and help them take control of their finances. Check it out, and if you have any questions, feel free to drop me a line.