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Equifax Canada’s consumer survey out today found that the average credit card balance has now reached a record high of $2,121. Gains in household wealth over the past year have been erased, the agency said, with average net worth sinking by $65,400 or 6.5 per cent, in the second quarter from the quarter before.
The Equifax survey shows that Canadians’ anxiety over their finances is growing. Fifty-three per cent said they had a lot of anxiety over their level of debt and only half said they felt comfortable with their personal economic outlook, down from 61 per cent last year.Article content
Like how does 1 that is living pay check to pay check catch back up from where the Federal Govt policy has put Canadians? How? Write out the formula how how to do it. Where does the extra $$ come from where there isn't any? Only thing is if Feds & CC companies take some ownership
Something should be done to help people that were put under this credit card burden by govt. covid policy. It is not like now u can catch up. Probably the majority of Canadians r pay check to PC how does 1 recover? Need CC debt forgiveness/credits/govt reimbursements.
Canadian credit card debt is up because of Govt policy on Covid. Canadians had to live on credit when they could not go to work, to feed themselves & stay alive. Now Govt wants $$ back Credit C companies want $$ so no break for the citzen that got PUT in this position not good!
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