financial health News and Articles | My Blog
The hidden cost of rising debt: why checking your credit report matters more than ever
7/14/2024 | Posted in Financial Health by Paul DeAdder
With interest rates and borrowing costs at elevated levels, it’s more important than ever to ensure your credit report is in good standing.
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More Canadians only making minimum payment on credit cards: TransUnion
5/29/2024 | Posted in Financial Health by Paul DeAdder
A new report suggests an increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household ... More
Renters have harder time accumulating wealth than homeowners: RBC economist
3/14/2024 | Posted in Financial Health by Paul DeAdder
Renters face daunting barriers in their attempts to build wealth as they’re forced to devote an increasing share of their income to keeping a roof over their head.
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B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says
3/5/2024 | Posted in Financial Health by Paul DeAdder
Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023.
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There's a common theme among Canadians overwhelmed by debt
2/6/2024 | Posted in Financial Health by Paul DeAdder
Further analysis of the latest Canadian insolvency stats reveal some revealing elements that typically connect those whose finances have got too much for them.
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Household debt levels set new record high in Q2
9/4/2023 | Posted in Financial Health by Paul DeAdder
Higher living costs are pushing more and more Canadians into debt, according to a new report.
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Businesses' changing credit usage a worrying trend: Equifax
6/20/2023 | Posted in Financial Health by Paul DeAdder
Equifax Canada says new data suggests a significant shift in credit usage among businesses in the first quarter of 2023.
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Canadians' mortgage borrowing hits lowest level since 2003
6/15/2023 | Posted in Financial Health by Paul DeAdder
Canadians' mortgage borrowing has reached its lowest level since 2003, primarily due to the impact of higher interest rates, according to recent data released by Statistics ... More
Canadian consumer debt hits all-time high, reaching $2.32 trillion in Q1 2023: TransUnion
6/1/2023 | Posted in Financial Health by Paul DeAdder
Amid interest rate hikes and high inflation, more Canadians are turning to credit for relief, with consumer debt hitting a new record in the first quarter of 2023.
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Canada's residential mortgage debt now $2.08trn, says CMHC
5/25/2023 | Posted in Financial Health by Paul DeAdder
The federal housing agency has revealed the latest industry trends
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Millions of Canadians already missing payments due to COVID-19
3/27/2020 | Posted in Financial Health by Paul DeAdder
The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.
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Canadian reverse mortgage debt reaches nearly $4 billion
1/28/2020 | Posted in Financial Health by Paul DeAdder
Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More
Canadian Household Borrowing Jumps By 31%, StatCan Says
12/16/2019 | Posted in Financial Health by Paul DeAdder
Canadians' borrowing habits are back to where they were before policymakers cooled off the housing market. Lower interest rates are convincing some to borrow more.
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Stats Can releases Q2 household debt data
9/14/2019 | Posted in Financial Health by Paul DeAdder
Household income grew slightly faster than debt in the second quarter as the amount Canadians owe relative to their income edged down for the third quarter in a row.
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Average Canadian household spent more on taxes than living costs in 2018, report finds
8/2/2019 | Posted in Financial Health by Paul DeAdder
The average Canadian household paid nearly $40,000 in taxes last year, more than the combined cost of clothing, food and shelter, according to a new report.
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CRA issues warning about real estate investment schemes
6/11/2019 | Posted in Financial Health by Paul DeAdder
A warning has been issued regarding investment schemes that promise tax write-offs by investing in real estate through limited partnerships.
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Household debt at a record high, senior mortgages increase
5/23/2019 | Posted in Financial Health by Paul DeAdder
Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC.
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Delinquency rates hold steady even as credit market grows
5/23/2019 | Posted in Financial Health by Paul DeAdder
The Canadian credit market has grown but it appears that consumers are generally managing their debt well.
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Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis
5/14/2019 | Posted in Financial Health by Paul DeAdder
Higher interest rates and a record-large debt burden are taking their toll on Canadians, with the number of households filing for insolvency hitting an eight-year high in the ... More
48% of Canadians on brink of insolvency: Survey
4/22/2019 | Posted in Financial Health by Paul DeAdder
Sign of deteriorating financial stability for many people in the country.
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