Highlights / credit

Economy, Society

Canadians owe $1.77 for every dollar they have to spend: Statistics Canada

Even as Canadians became more frugal with their borrowing amid the economic slowdown due to the COVID-19 pandemic, the decline in household disposable income in the first quarter led to an increase in the overall household debt ratio, according to »

Society

Canadians’ average debt increases, prompts warning

While 46 per cent of Canadians decreased their personal debt, those who did not added an average 3.3 per cent to what they owe, according to the consumer credit reporting agency, Equifax. Excluding the mortgage debt on their houses, the »

Society

Canadians plan less holiday spending this year, but…

Christmas is a time when Canadians exchange gifts and this year they are planning to spend eight per cent less than they did last year. A survey by the major Canadian bank, CIBC, found people plan to spend an average »