By Rob Carrick
The Canadian economy is finally starting to build some momentum – that’s why interest rates are starting to move higher. Do you feel like you’re getting ahead financially? If not, here are some fresh insights about personal finance habits that may help. They come in the form of five misconceptions about money that touch on some important themes, notably that being in debt is the new normal.
There’s no doubt that low interest rates have made us more comfortable holding debt, be it a mortgage, line of credit or car loan. But rates have edged higher in the past few weeks and could do so again. As rates rise, I’d like to see debt reduction become the new normal.
There’s reason for optimism about Canadians finally curbing their appetite for debt. In the first quarter of this year, household income rose more than debt levels.
Read the Full Article at www.theglobeandmail.com >>>>
ATTENTION READERS
We See The World From All Sides and Want YOU To Be Fully InformedIn fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.
About VT - Policies & Disclosures - Comment Policy
