, a new survey has found that many Canadians are now turning to debt to keep up with their expenses.
It also found that roughly 7.3 million Canadians over the age of 18 used loans or other forms of debt to keep up with inflation.The survey’s respondents listed paying bills, consolidating debt, and covering living expenses after losing a job as the most common reasons for taking on debt. "Middle-income earners are really struggling," Romana King, senior finance editor at Finder, said in a release.
The survey also found that 27 per cent of Gen X respondents, aged 42 to 56, also took on debt to combat inflation.
Thanks Trudeau
'in order to offset what was essentially an economic collapse on a international scale, that the federal government was going to offer .. a total debt relief.. In exchange for acceptance of this .. the individual would forfeit ownership of any and all property and assets forever'
'It forces many to start prioritizing their expenses' Prioritizing is what everyone should be doing regardless of income or status. How do you think the rich got rich?
Canazuela TrudeauIsDestroyingCanada
It’s not like we can just print money whenever we see fit. We would most likely be arrested 🤔
Even better for the banks.
That's good. Debt is getting waved these days by woke govts.
Thanks to trudeau and the worst is yet to come !
Cue all the hot takes from the same pundits and other deep thinkers who shat all over the federal government for bringing in now-defunct programs to try to help Canadians avoid debt. 🔥🙄
Isn’t this exactly what the Liberal Government wanted?
Maybe do a story on how much money the Liberal Government has printed which drove up inflation and the carbon tax which is taxed with GST. Or how the Government funds insolvency to create a society of financial slaves.
The liberal majority in this country either doesn’t know there’s inflation or doesn’t care there’s inflation!
I believe this is actually a true reality, CC debt is at all times highs in the US and 1/6 aren't paying their Util's, so seems logical that similar occurrences are happening in Canada. Perhpas its the start of a deep recession? Keep up the good reporting Rhythm Sachdev.
Thank you Justin!
I remember when…
...and we get our facts front Facebook... CTV = useless
CTV needs to bring back Lisa LaFlamme and dump 19th century Melling. Everyone I know loves Lisa. Melling sounds like the worst of the old world. Stop censoring the topic and start reporting … CTV
A survey is how these lazy journalists conjure up these tales. A chat with the big banks is beyond their skill set.
Now tell us ALL about PRICE GOUGING and why it’s GOOD for us!
is complicit in this.
Your leader, Trudeau, was too busy with a vanity election to care about fiscal policies.
Soon guillotines
What are they crying about? Just go out and buy an electric car!!! No need to pay for gas!!😁👍
Not sure why people are complaining about inflation, it literally increases the value of your money.
Poll: Due to debt burden in a majority of Canadians is raising interest rates the right approach to fighting inflation?
Well ya