Coast Capital Savings has some advice when it comes to debt.
Statistics Canada recently reported for every dollar of disposable income Canadians have, they owed nearly a dollar 79.
That’s an all-time high.
Daryl Hosein, Coast Capital Savings spokesperson has some advice when it comes to debt.
He said some debt, like student loans and mortgages, are productive debt
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Hosein said the kind of debt you want to avoid includes high-interest credit card debt that you might rack up buying consumer goods, like clothing.
He said there is no magic number for consumer debt because each person is in a different place, but if you are comfortable with the money you owe, it’s probably okay.
