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March 23, 2017 | Canadians Drowning in Debt to Maintain Lifestyle

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

When people are using debt to maintain their lifestyle, they are also foregoing savings for the future. Spending on debt thus reduces funds for future spending and hence economic strength and stability for years to come.  A focus on short-term spending and lack of fiscal discipline has compound costs.

Scott Terrio, estate administrator at Cooper and Company, says Canadians are taking on too much mortgage debt. Here is a direct video link.

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March 23rd, 2017

Posted In: Juggling Dynamite

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