On this episode:
Host Elizabeth speaks with Laurie Campbell, CEO with Credit Canada Debt Solutions to help us understand women and debt, budgeting and living stress free.
Accumulating and paying off debt, is extremely different from what it was in August 1981, when the Bank of Canada rate was 21%.
Low interest rates have created a perception of cheap money causing Canadians to borrow more money with hopes of paying their debt later.
But what happens when interest rates go up? How do you service that debt?
Many Canadians will not have enough cash flow to cover their debt. And sadly, there is a lot of embarrassment and shame associated with debt especially with the pressures of Social Media.
The best way to reduce debt related stress is to talk about it with your partner or someone close to you. Efficiently pay off your loans, at more than just the minimum and ask for help if you need it.
Having an expert to help, will allow you to find a specialized solution to your debt problem.
And remember, don't spend more than you earn.
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