Many people spending savings, going into debt, says credit counsellor | CBC News

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A financial literacy and credit counsellor says many of her clients are going into debt or spending savings to make ends meet as prices for everything from gas to food to shelter continue to rise.

Posted: Apr 03, 2022 4:00 AM ET | Last Updated: April 3 Canada's inflation rate rose to a new multi-decade high of 5.7 per cent last month, the highest it's been since August 1991, according to Statistics Canada.

 

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Yet they vote for policies that don’t benefit them all the time. We will see them call for more tax cuts and they will get their 3$ a month saving while the rich get thousands. Then they’ll face increased fees for public services.

Corporate greed will do that to you

How surprising, with the liberals in charge, everything is tax to the max, driving up prices. And CBC? They are rubbing their hands together looking for more tax payer funds to continue their one sided approach to journalism.

Financial literacy / budgeting should be taught to kids in school.

If you have savings to spend, then you are actually not doing that badly. Times do not change that much really. Thirty years ago when interest rates were double digits, my young family had the same issues, as did our parents and theirs before them. We all survive.

The high inflation just started. People are not actually feeling it yet, you are just projecting. Worse is still to come

That's okay if prices rise, Jagmeet and Justin are rich and it will not affect them so calm down everyone.

Until Ontario Canada legislation protects the taxpayer ,money literacy won't matter.Need a lawyer on retainer.The largest consumer purchase,a home condo is (largely) self regulated.Leading to opportunistic biz,money laundering

Don't see you asking the question of the trudope govt. mediawhore

cbcnews - yes all while the Westons rake in record profits!

If people are going into debt and are worried about the cost of living, why are so many saying they’ll quit their jobs if they have to go back to the office..

Just boot out Foreign housing investors, raise rates to 8%. Prob solved

Yes, but please keep praising our great JustinTrudeau because he has our back. & his hands in our pockets to push Canadians into poverty. He & cafreeland don't give a sh*t about Canadians.

I’m ready to drop off all my brother on social assistance. So they can make a living. That’s what the government wants than we will do that.

The Liberal over-spending is triggering the inflation hike !!!

FFS READ THE ARTICLE BEFORE MAKING INANE COMMENTS PEOPLE!!!!

the disabled have been living like that for decades in canada , looks good on the rest of y'all.

Hey…, share this with your buddy Trudeau. Dare ya.

Also many trades associations, are negotiating new collective contracts with some increases in the hr to compensate for inflation, that we will never see with the current tax system!! This sucks!!!

And we have a government that do not care at all!!

Thank the environmentalists; the green agenda; zealots of climate change; and liberals who refuse to believe in savings choosing instead to find every idiot idea they think damn the consequences. And now that Herr Jagmeet has more power, ideological spending is only going up.

Meanwhile corporate profits soar. People are simply underpaid. Labour is getting ripped off.

Well, Trudeau and Freeland DID want to find ways to “unlock” our savings. Inflation does that. What did we expect? Luckily, now when k fill my car I know the fuel will pollute less at $50/t carbon tax. Great job, everyone! PositivityIsNigh

It’s ok. Its for the climate according to Trudeau.

If you spend 90% on housing you’re in trouble. Otherwise you don’t give a fuck on rising gas prices or grocery. Do you?

Thank you, Trudeau. At least Klaus Schwab is proud.

Everyone is overspending something needs to be done

I am certainly glad in this financially trying time that I was able to learn all about life's finances through different stages of life in Wood Shop class in high school.

But lets make a carbon tax. Idiots

I wonder if the desire for 5 bedroom homes, BMW’s and eating out, has any bearing on their bottom line?

GinettePT

You know thats their plan cbc CBC just admit it. You were paid in 2015 by the millions to keep their plan quiet. We know the globalization of power is what your being paid off to bury with other articles. We know about the WEF and their cult to control the worlds populus. Liar

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