Tuesday, December 14

Drowing in Debt

This recent global recession, lack of steady jobs, poor economic situation, under-employment or whatever you want to call it had driven many people in Canada to bad financial situations. It was said by the CBC last night that the debt to income ratio for Canadians rose to 148.1 per cent ending last Sep. alone which will go up for sure by the end of the fiscal year because of the Christmas and New Year. No doubt about that. It mean for every one hundred dollar that a Canadian earn, 148.1 dollar will be spent by him or her!
I myself was almost debt free until mid 2008 and not doing too bad in 2009 but while we're ending 201o in almost 2 weeks I owe almost $4800 only on my credit cards! And if I add the finances and penalties then the number will go up so high that the reader probably gets a hurt attack. And I'm not a type a guy who goes to restaurants every other day, smokes, drink or gamble or take cruise vacations!
nevertheless my near future plan is pay all the debts as fast as I can while looking for the ways to make more and pay less. I'll report in 6 months!

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