The Debt Crisis is rising daily due to salary's lowering day by day.

14 May 2015 - Which Way To Pay

Email Article Print Article

As the nations salary's are declining across many households , Debt is becoming a big worry.

As most people will have been noticing personally and in general , Debt is becoming a big worry for millions of people all across our nation. Due to recent results and reports the average household salary are going to as low as $100,000 .

This is now starting to affect the everyday living for most people within this situation . Studies stated recently that this is due to people over spending on things such as New Kitchens , New Cars and overly expensive holidays .

According to newly released statistics 71 per cent of Canadian family's have carried over unpaid Debt from 2012. This is now becoming a big problem for Canada , as this is trapping middle aged family's into a crisis that can take a long time to recover.

This has come as a shock to lots of other nations and back in the 1980's Canada was know as a nation of savers with nearly 20 per sent of our incomes being stockpiled. Lots of people are running up large amounts of Debt on things such as credit cards , loans . As we all know these things don't go away and in most cases just get worse.

The most shocking result is that at the end of 2014 , the debt had rose to a huge $182 trillion . This amount is actually greater than the amount of gods and services we produced as a country. Not all of the Debt is caused by people who are living beyond there means , but also by small businesses who have got themselves in a situation that is hard to get out of.

As we all know the Americans have always been known to be big spenders , well recently Canada as a nation is running in second place behind Greece for its household Debt Crisis .

The worrying thing as a nation is that most students when leaving school to graduate are already taking on a student loan Debt and in most cases in recent studies they are carrying Debt with them for their entire life cycle.

Short term lending such as personal loans has also fell as people are becoming more scared to actually try and face up to the Debt that they owe.

Always remember one thing Debt doesn't go away.



Compare Foreign Exchange and Currency >>

Compare Loan and Debt Products >>

Compare Cards Products >>

Compare Money Products >>

Pet Insurance. Most family's have that loved pet in there life , lets make sure they are insured .
31 August 2018
Which Way To Pay
Pet Insurance is something that not everyone is aware of and how it can save you thousands of Dollars.
Avoid the middle man when wanting to lend some extra funds.
04 April 2017
Which Way To Pay
Peer to peer lending is one of the best ways to lend money as your are basically cutting out the middle man.
More and More Canadians on a daily basis are purchasing the incorrect Travel Insurance policy's they need for the trip they have planned.
30 August 2016
Which Way To Pay
Studies have n recently more and more Canadians are purchasing the incorrect Travel Insurance covers which is then causing problems when the claims are to be made.