Projected Debt in Canada Have Exceeded Forecasts
Based on a study led by Harris-Decima for the CIBC revealed that Canadians who are now carrying heavy load of debt believe that they will be free from debt upon reaching the age of 55. The poll also exposed that around 35% of Canadians who are at age 55 to 65, in reality, do not carry debt. Having the belief that anybody can be free from debt is not really enough. Forecasters say that paying off debts as timely as possible, provides better chances of attaining the goals. It is better if every individual has an efficient financial forecasting and debt supervision scheme to control and limit household expenditures.
Excerpt:
“But the poll also found that only about 35 per cent of Canadians currently in the 55-to-64 age group — or just over a third — are actually debt-free.”
Original article can be found at:
http://money.cnn.com/2011/08/26/pf/expert/family_money.moneymag/index.htm
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